Listed by Matthews
$3,437,359
Elevated Growth Dispensary (10.30% CAP RATE)
Details
Property Type Retail
Sub Type Pharmacy/Drug, Restaurant
Square Footage 6,800
Cap Rate 10.3%
NOI $354,048
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 09/22/2032
Remaining Term 6.3
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $505
Broker Co-Op Yes
Year Built 1998
Year Renovated 2022
Buildings 1
Stories 1
Acreage 1.800
Investment Type Net Lease
Lease Commencement 10/18/2022
Ground Lease No
Ownership Fee Simple
Retail | 10.30% Cap Rate | Abs NNN Lease
Investment highlights
- High-Yielding Investment – The property is being offered at a Year-1 in-place cap rate of 10.30%.
- Absolute NNN Lease – There are zero landlord responsibilities, making it a great investment opportunity for a passive investor.
- Attractive Rental Increase – 3.00% annual rent escalations offer a built-in hedge against inflation and long-term income growth.
- Large Lot – Situated on a 1.8-acre parcel, offering strong long-term real estate value and future redevelopment potential.
- Sticky Tenant – Due to stringent zoning restrictions, cannabis operators face significant challenges relocating. In Ohio, dispensary relocations require state Board of Pharmacy approval and compliance with a detailed regulatory process (contact broker for details). Additionally, per the construction budget, the current tenant has invested over $900,000 in improvements to the property.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$354,048.00
$29,504.00/mo
Valuation Metrics
0
DSCR
10.3%
Cap Rate
10.3%
ROI
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Zoning
CPD-H-60 PlannedCommercial Planned Development 60 Foot Height District
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View all 239 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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