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12058462
12058463

9760 San Jose Blvd, Jacksonville, FL 32257

AW
FL 3160633
One Sotheby’s International Realty
Listed by One Sotheby’s International Realty
$1,900,000
1042 days on market
Updated 51 days ago

Curaleaf Corporate Guarantee NNN - Jacksonville

Details
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Square Footage 2,619
Net Rentable (SqFt) 2,619
Cap Rate 7.11%
NOI $135,139
Occupancy 100%
Tenancy Single
Brand/Tenant Curaleaf Holdings, Inc
Lease Type Absolute NNN
Lease Term 10.1
Lease Expiration 12/31/2030
Remaining Term 4.6
Rent Bumps Yes
Lease Options 2 5 Years
Price per SqFt $725
Year Built 1978
Year Renovated 2020
Acreage 0.660
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 12/01/2020
Occupancy Date 12/01/2020

Retail | 7.11% CAP | 2,619 SqFt

Marketing description

4.5 Years Remaining on the Lease | Corporate Guaranteed | Annual Rental Increases | Options to Extend

• The lease is corporate guaranteed by Curaleaf Holdings, Inc., the world’s largest cannabis company by revenue (Market Cap over $2Billion)

• 4.5 -years remaining on the lease with 2 (5-year) options to extend, demonstrating their longterm commitment to the site

• The lease features 2% annual rental increases, growing NOI and hedging against inflation

NNN Lease | Fee-Simple Ownership | Zero Landlord Responsibilities

• Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises

• No landlord responsibilities

• Investor benefits from fee-simple ownership of the building and land

• Ideal, low-management investment for a passive investor in a state with no state income tax

Fronting Primary Thoroughfare | Great New Location | Near Interstate 295 | Excellent Visibility & Access

• Subject property is strategically located on San Jose Boulevard, a primary retail and commuter thoroughfare averaging 62,000 passing by daily

• Great new location that was recently renovated in 2020

• Nearby national/credit tenants include Big Lots, Ace Hardware, Outback Steakhouse, Fifth Third Bank, CVS, McDonald’s and more

• Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for this site

• Less than 2 miles north of Interstate 295 (163,000 VPD)

Strong Demographics in 5-mile Trade Area | Population Growth

• More than 140,000 residents and 93,000 employees support the trade area

• Features an average household income of $76,363

• Jacksonville’s population grew by 10.9% to 911,507, with 89,757 new residents over the past decade

Investment highlights

• 7% CAP RATE - Corporate Guarantee

• Absolute NNN, No Landlord Responsibilities

• 4.5 Years Remaining on the Lease

• 2% Rent Increase annually

• Great Location

• Strong Demographics

• Concept Growing

Listing Contacts

AW
FL 3160633
One Sotheby’s International Realty
Listed by One Sotheby’s International Realty

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$135,139.00
$11,261.58/mo

Valuation Metrics

0
DSCR
7.11%
Cap Rate
7.11%
ROI

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Additional Information

Name
Alex Wolak
License
3160633
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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