Listed by Matthews
$2,486,206
Mint Cannabis
Details
Property Type Retail
Sub Type Bank, Pharmacy/Drug
Square Footage 5,363
Cap Rate 7.25%
NOI $180,250
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 05/30/2035
Remaining Term 9
Rent Bumps Yes
Lease Options 2 x 5-Years
Price per SqFt $464
Class C
Year Built 2026
Year Renovated 2026
Acreage 2.530
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/25/2025
Ground Lease No
Absolute NNN Mint Dispensary – 9+ Years, 3% Increases, Drive-Thru, Florida
Marketing description
Mint Dispensary in Homosassa Springs, FL is offered at $2,486,206 with a 7.25% cap rate and 3% annual rent increases. The absolute NNN lease has ±9.2 years remaining, with Mint Cannabis as the tenant. The 5,363 SF building sits on a 2.53-acre lot with a five-lane drive-thru and US-19 frontage. Ideal passive investment with strong operator and long-term income.
Investment highlights
- Absolute NNN Lease: The property is secured by an absolute triple-net lease, offering a passive investment structure with no landlord responsibilities for operating expenses, maintenance, or capital expenditures.
- Annual Rent Increases: The lease features 3.00% annual rent escalations throughout the base term and option periods, providing consistent income growth and an effective hedge against inflation.
- Long-Term Lease Structure: The tenant recently executed a 10-year initial lease term with approximately nine (9) years remaining, along with two (2) five-year renewal options, providing long-term income visibility.
- Former Bank Building with Adaptive Reuse: The property is a repurposed former bank branch, benefiting from a secure and robust building design well-suited for dispensary operations, including enhanced security infrastructure and efficient customer flow.
- Five-Lane Drive-Thru Capability: The asset features a fully operational five-lane drive-thru, a rare amenity within the medical cannabis sector that supports higher throughput, operational efficiency, and increased revenue potential relative to traditional dispensary formats.
- Established Multi-State Operator Tenant: The property is leased to Mint Cannabis, an experienced operator with 35+ dispensary locations across six states. The company expanded into Florida in 2024 through the acquisition of The Cannabist Company’s Florida portfolio, which included 14 dispensaries and two cultivation and manufacturing facilities.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$180,250.00
$15,020.83/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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