698 NE 167th St, Miami, FL 33162

High Traffic Area | 57K+ VPD | 1 Mi Golden Glades Interchange – 550K+ VPD, $908M Expansion

• The Property sits on the corner of NE 167th St and NE 7th Ave with direct exposure to over 57,500 vehicles per day.

• Situated roughly one mile away, the Golden Glades Interchange serves as one of South Florida’s primary transportation hubs, accommodating more than 550,000 vehicles daily across four major corridors – I-95, the Florida Turnpike, the Palmetto Expressway, and US-441.

• This critical regional interchange is undergoing a $908 million expansion which is one of the biggest roadway projects in Florida’s history, aimed at easing congestion and enhancing mobility with completion expected in 2031.

Gateway to North Miami Beaches | One of Only Three Direct Access Thoroughfares

• NE 167th is a primary throughfare used by both residents and commuters who are traveling to and from the greater North Miami Beaches.

• Within a 40-block north–south corridor, NE 167th is one of only three routes providing direct connectivity between Interstate 95, US-1, and the beaches. Of these three routes, NE 167th experiences the highest traffic counts.

• The Property offers exceptional access in all directions through curb cuts on both NE 167th and NE 7th, a dedicated westbound turn lane, and additional exit access via NE 166th St.

Excellent Intrinsic Value | High Barrier to Entry Sub-Market

• NE 167th is a dense retail and mixed-use corridor which has a low vacancy rate and high barriers to entry, with little product ever coming to market.

• Recent re-development and land sales in the immediate area have traded at approximately $200 per square foot, reinforcing underlying land value.

• The Property also features BU-1 zoning which allows for retail and service convenience facilities which satisfy the needs of adjacent residential neighborhoods allowing for potential re-development opportunities, should the tenant not renew the lease.

Recent 10.75-Year Lease Extension | Absolute NNN Lease | Significant Tenant Investment

• The Property benefits from an absolute NNN lease with no landlord obligations, scheduled 10% rent escalations every five years, and a corporate guarantee from Acreage Holdings.

• The Tenant recently executed a 10.75-year lease extension. While the Tenant continues to pay rent during construction, the new 10.75-year lease extension does not commence until receipt of the certificate of occupancy, providing for additional base term.

• Since the original lease commenced in March 2019, the Tenant has remained current on rent and is undergoing a $750,000 build-out at their own expense, which is expected to be completed in spring 2026.

Infill Location | 199K+ Residents | $108K+ Avg HH Income | Strong Daytime Population

• The Property is located within a dense trade area of 27,636 residents within one mile and 199,941 residents within three miles and is supported by strong household income levels of $108,018 and $83,048 respectively, providing for greater disposable income.

• The trade area includes a daytime population of approximately 86,793 workers within a 3-mile radius, many of which pass the Property on their daily commutes.

Within 3 Mi of Three Major Mixed-Used Developments | $4.6B Currently in Development

• The Property is less than 3 miles from three of North Miami’s largest developments which are currently under construction.

  • Mall at 163rd Street, a $150 million mixed-use redevelopment, less than 1-mile east of the Property will include retail, residential, and medical office space.

  • North Town Center, a $440 million mixed-use development just 2 miles east of the Property. Once complete, the center will encompass 1,650+ residential units, a 175-key hotel, and 325,000+ square feet of retail and office space.

  • Solé Mia, a $4 billion master-planned community, less than 3-miles east, is currently under construction. Notable features include 6,000+ residential units, 1.5+ million square feet of retail space, and a new UHealth Miami Medical Center.

Near Traffic Drivers | Successful National Retailers | Industrial Parks | Major Area Hospital

• Retail

  • The Property is located within the most active retail stretch of NE 167th Street, between 6th and 15th Avenues, alongside a dense lineup of national retailers.

  • These nearby anchors generate significant consumer traffic, with Publix and Home Depot each exceeding 1.2 million annual visits and Walmart attracting more than 2.9 million visits annually.

  • Additional national retailers in the immediate area include Lowe’s, ALDI, Home Depot, Wawa, Chick-fil-A, CVS, Taco Bell, Starbucks, Chipotle, and many others, further enhancing traffic flow and customer capture.

  • Other national retailers in the immediate area include CVS, Taco Bell, Starbucks, Chipotle, Wells Fargo, and many others, all of which provide a greater likelihood of increased traffic flow and customer capture.

• Industrial Parks

  • Located just west and north of the Property is over20 million square feet of large industrial, office, and flex space, including the Sunshine State Industrial Park, which is home to major national companies such as Amazon, Publix, Floor & Décor, Ashley Furniture and Room-to-go, amongst others.

• Hospital

  • Less than 2 miles west is Jackson North Medical Center which holds 382 inpatient beds and employs over 1,900 staff. The hospital serves the North Miami-Dade and South Broward communities, treating over 55,000 patients annually.

  • Jackson North recently completed a $100+ million modernization adding patient rooms, a dining center, emergency rooms, surgical suites and much more.

  • The hospital is currently underway of a $90 million emergency room expansion that is expected to be completed in Q2 2026.