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29881167
29881168

763 E 3rd Ave, New Smyrna Beach, FL 32169

MT
FL BK3217284
STNL
NW
FL SL3477920
STNL
Listed by STNL
$2,665,000
100 days on market
Updated 1 day ago

MUV Cannabis Dispensary

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 3,005
Net Rentable (SqFt) 3,005
Units 1
Cap Rate 7.00%
NOI $186,483
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15.1
Lease Expiration 09/30/2039
Remaining Term 13.3
Rent Bumps Yes
Lease Options 2, 5-year options
Broker Co-Op Yes
Year Built 1983
Year Renovated 2025
Buildings 1
Acreage 0.830
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/03/2024
Ground Lease No
Ownership Fee Simple

Publix Outparcel | 13+ yrs. Remaining | New Roof | 3% increases

Marketing description

STNL.com is pleased to present this 100% fee simple STNL MUV cannabis dispensary in New Smyrna Beach, FL, strategically located in a high-tourism coastal market with strong demand from both local residents and year-round visitors. Four reasons to own this property include:

1. Premier Destination: New Smyrna Beach is a popular coastal destination known for its accessible Atlantic beaches, relaxed surf culture, and vibrant waterfront atmosphere. Flagler Avenue anchors the local retail and dining scene, attracting consistent foot traffic from both residents and tourists and driving strong demand for nearby commercial properties.

2.Publix at Indian River Village: Publix-anchored shopping center providing daily-needs retail that generates consistent customer traffic for surrounding businesses. Publix corporate has owned the Indian River Shopping Center since 2016, underscoring long-term commitment to the center and supporting sustained customer volumes within a stable, wellestablished retail corridor.

3.Limited Competition: With zero dispensaries within a five-mile radius, the MÜV site is well positioned to capture unmet demand and establish a strong local market presence. The location benefits from strong exposure and steady foot traffic generated by nearby residential density and visitor activity, supporting consistent customer flow.

4.Lease Fundamentals: Newly renovated roof combined with a long-term lease featuring over 13 years of remaining term and 3% annual rent increases. Absolute net lease structure with zero landlord responsibilities, providing stable and predictable income.

Investment highlights

Coastal Appeal: Established destination with a balanced yearround population of full-time residents and repeat visitors, supporting consistent economic activity beyond peak seasons.

Corporate Owned Publix: Outparcel to a corporately owned Publix, reflecting long-term commitment to the site

Protected Market: No dispensaries within five miles of the property

Strong Lease Structure: Absolute NNN Leases with 13 years remaining, 3% annual increases, New Roof

Listing Contacts

MT
FL BK3217284
STNL
NW
FL SL3477920
STNL
Listed by STNL

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$186,483.00
$15,540.25/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Mark Thompson
License
BK3217284
Brokerage Phone
689.666.9560
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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