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Shopping Strip

WireWorks

224 N Florida Ave, Lakeland, FL 33801

Listing Price: $3,348,000

Cap Rate
6.50%
Gross SF
10,028
Rentable SF
10,028
Price/Gross SF
$333.87
Lot Size
0.56 acres
Year Built
2002

Investment Overview

Marcus & Millichap is pleased to present Wireworks Retail Center in Lakeland, Florida. The property has recently been renovated with a new roof, facade, parking lot, and suite buildouts. MUV contributed over $100,000 to their buildout. Lakeland is the largest city on Interstate 4 between Orlando and Tampa. Large industries in the Lakeland area are citrus, cattle, and phosphate mining. In the past few decades, tourism, medicine, insurance, transportation, and music have grown in importance. Known for a lower cost of living and home to Florida Southern College, it is a family-friendly area with many lakes, parks, and other desirable attractions. The anchor tenant MUV is owned by Verano Holdings Incorporated. They are a leading, vertically integrated, multi-state cannabis operator in the U.S. that is devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands with a mission to address vital health and wellness needs: Verano™, Avexia™, Encore™, and MÜV™. The company’s portfolio encompasses 14 U.S. States, with active operations in 11, which includes nine production facilities comprising approximately 770,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV, delivering a superior cannabis shopping experience in both medical and adult-use markets.

Investment Highlights

  • Newly Renovated Property in the Last Two Years
  • 100 Percent Occupancy | MUV Medical Cannabis Dispensary Anchor Tenant
  • New TPO Roof in 2019 | 20-Year Warranty
  • Newly Paved Parking Lot
  • New Exterior Façade in 2019
  • All Tenant Suites are New Buildouts

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s) FL: BK3154667

    Florida

Shopping Strip

WireWorks

Listing Price: $3,348,000

Cap Rate
6.50%
Gross SF
10,028
Rentable SF
10,028
Price/Gross SF
$333.87
Lot Size
0.56 acres
Year Built
2002

Investment Highlights

  • Newly Renovated Property in the Last Two Years
  • 100 Percent Occupancy | MUV Medical Cannabis Dispensary Anchor Tenant
  • New TPO Roof in 2019 | 20-Year Warranty
  • Newly Paved Parking Lot
  • New Exterior Façade in 2019
  • All Tenant Suites are New Buildouts

Investment Overview

Marcus & Millichap is pleased to present Wireworks Retail Center in Lakeland, Florida. The property has recently been renovated with a new roof, facade, parking lot, and suite buildouts. MUV contributed over $100,000 to their buildout. Lakeland is the largest city on Interstate 4 between Orlando and Tampa. Large industries in the Lakeland area are citrus, cattle, and phosphate mining. In the past few decades, tourism, medicine, insurance, transportation, and music have grown in importance. Known for a lower cost of living and home to Florida Southern College, it is a family-friendly area with many lakes, parks, and other desirable attractions. The anchor tenant MUV is owned by Verano Holdings Incorporated. They are a leading, vertically integrated, multi-state cannabis operator in the U.S. that is devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands with a mission to address vital health and wellness needs: Verano™, Avexia™, Encore™, and MÜV™. The company’s portfolio encompasses 14 U.S. States, with active operations in 11, which includes nine production facilities comprising approximately 770,000 square feet of cultivation. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV, delivering a superior cannabis shopping experience in both medical and adult-use markets.

Exclusively Listed By

Broker of Record

  • Ryan Nee

    First Vice President / District Manager

    (954) 245-3400

    License(s): FL: BK3154667

    Florida

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