Listed by Cushman & Wakefield - Tampa, Florida
$3,760,000
Trulieve Bradenton
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 5,106
Cap Rate 6.25%
NOI $235,000
Occupancy 100%
Tenancy Single
Brand/Tenant trulieve
Lease Type NNN
Rent Bumps Yes
Tenant Credit Corporate Guarantee
Single-Tenant Corporate NNN | 6.25% CAP | 10 Years Remaining
Marketing description
1720 CORTEZ ROAD EWST, BRADENTON, FL 34207 - 5,106 SF
LEASE TYPE: NNN
ADDITIONAL TENANTS: NONE
PURCHASE PRICE: $3,760,000 (6.25% Cap Rate)
BASE RENT ESCALATIONS - Three Percent (3%) per annum
Investment highlights
LEASE
Triple net (NNN) lease to Trulieve with 10 years of term remaining. The initial lease term is estimated to expire in 2035. Tenant has two 5-year extension options, with 3% annual base rent escalations.
RENT COMMENCEMENT
Tenant is currently paying pre-rent. Pre-rent is $235,000 NNN annually. Pre-rent is paid until receipt of a certificate of occupancy, at which time initial lease term commences. The initial term is 10-years with two 5-year extension options. Tenant is responsible for all taxes, insurance, utilities, repairs, and maintenance.
Listing Contacts
Listed by Cushman & Wakefield - Tampa, Florida
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$235,000.00
$19,583.33/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
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