1208 NE 5th StCrystal River, FL 34429
Rise Dispensary
Asset ClassRetail
Square Feet1,851
Investment Highlights
- LONG TERM LEASE There are over 8 years remaining on the base term of the lease, providing stability and security for investors.
- ATTRACTIVE RENTAL INCREASES 2.00% annual rental increases, providing investors with a hedge against inflation. CAP rate will increase roughly 15-20bps each year of ownership.
- PASSIVE CASH FLOW Limited Landlord responsibilities as the roof and HVAC were replaced before the Tenant began operations. Tenant pays for taxes, insurance, and operating expenses.
- CORPORATE GUARANTEE Green Thumb Industries Inc (GTI) currently has +8 product brands, +90 dispensaries and +20 manufacturing facilities across 15 different states.
- LARGE LOT AND AMPLE PARKING The property sits on ±1.03 Acres and houses 28 parking spots. Whether used for a cannabis dispensary or other ventures, this property provides substantial fundamentals for success.
- HARD SIGNALIZED CORNER WITH EXCELLENT ACCESS The subject property sits on the hard signalized intersection of W Gulf to Lake Hwy (+31,500 VPD) and N Joyner Terrace. The subject property has 3 points of full access surrounding the parcel, highlighting its strong ingress and egress.
- MARKET GROWTH Crystal River is experiencing a surge in both its residential community and tourist influx, indicative of its growing popularity and appeal. Crystal River is known for several unique features and attractions: Eco-Tourism, Three Sister Springs, Fishing, Scalloping, and Manatees. These features attract retirement communities who happen to be large consumers of cannabis (Medium age in a 5-mile radius in 58).
- STRONG RETAIL SYNERGY Surrounded by some of the nation’s largest retailers (O’Reilly Auto Parts, AutoZone, Publix, Jersey Mikes, Dollar General, Regions Bank, more.)
Executive Summary
Property Information
List Price
$1,722,041
Address
1208 NE 5th St
City, State, Zip Code
Crystal River, FL 34429
Cap Rate
7.25%
NOI
$124,848
SF GLA
±1,851 SF
AC Lot
±1.03 AC
Year Built /Renovated
2006/2023
Photo Gallery
1208 NE 5th StCrystal River, FL 34429
Listing provided by Revere CRE