Listed by Matthews
$1,180,150
Off The Charts Dispensary (10% CAP)
Details
Property Type Retail
Sub Type Pharmacy/Drug, Cannabis Dispensary
Square Footage 3,000
Cap Rate 10%
NOI $118,015
Tenancy Single
Brand/Tenant Off The Charts
Lease Type NN
Lease Term 10
Lease Expiration 05/11/2033
Remaining Term 6.9
Rent Bumps Yes
Lease Options Two, 5-Year Options
Price per SqFt $393
Year Built 1928
Year Renovated 2023
Acreage 0.360
Investment Type Net Lease
Lease Commencement 05/11/2023
Ground Lease No
Ownership Fee Simple
High-Yielding Retail Investment | 3% Annual Rental Increases
Investment highlights
- High-Yielding Investment - Offered at an attractive 10.00% Year 1 in-place cap rate, the property provides investors with strong current cash flow and a yield premium compared to many traditional net lease investments.
- Built-In Rental Growth - The lease features 3.00% annual rent escalations, providing predictable income growth, increasing NOI over the lease term, and helping offset inflationary pressures.
- Limited Landlord Responsibilities - Structured as a NN lease, the tenant is responsible for real estate taxes, insurance, utilities, maintenance, HVAC, and day-to-day operations. The property has also benefited from recent capital improvements, including a new TPO roof, reducing near-term ownership costs.
- Established Multi-State Cannabis Operator - The property is leased to Off The Charts, an experienced cannabis retailer with 38+ locations across California, New Jersey, and Ohio. The company continues to expand its footprint in key regulated markets.
- Excellent Visibility & Accessibility - The property features dual frontage along New Jersey Avenue and W. Absecon Boulevard (U.S. Route 30), a major transportation corridor connecting Atlantic City with Philadelphia and the surrounding Mid-Atlantic region, providing strong visibility and convenient access.
- Strong New Jersey Cannabis Fundamentals - New Jersey remains one of the strongest cannabis markets on the East Coast, with more than $3.6 billion in cumulative sales since adult-use legalization. Continued year-over-year sales growth highlights strong consumer demand and market maturity.
- Significant Barriers to Entry - Strict zoning regulations, licensing requirements, setback restrictions, and local approval processes create meaningful barriers to entry, making compliant cannabis retail locations increasingly difficult to secure.
- Strategic South Jersey Location - Located within Absecon's primary commercial corridor and approximately 10 minutes from Atlantic City, the property benefits from access to a large regional population base, major employment centers, and one of the East Coast's premier tourism destinations.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$118,015.00
$9,834.58/mo
Valuation Metrics
0
DSCR
10%
Cap Rate
10%
ROI
Map
Zoning
C1 CommercialCore CommercialCentral Business District
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View all 32 uses
View all 32 uses Last updated Feb 3, 2026 For deeper zoning details, reports are available at Zoneomics
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Property History
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