Liberty Health Sciences | 10-Year NNN Lease with Annual Rent Increases

2356 Commercial Way, Brooksville, FL 34606, USA
$984,266

Description

Marcus & Millichap is pleased to present for sale this Net Leased Liberty Health Sciences medical cannabis dispensary located at 2356 Commercial Way in Spring Hill, Florida. The freestanding single-tenant property consists of a 4,652 Square Foot building and is situated on a .77 Acre parcel of land.
The property is located along US Highway 19 in the heart of Spring Hill’s retail corridor. Spring Hill is located in Hernando county and considered part of the Tampa, St. Petersburg and Clearwater metro areas with a population of more than 75,000. The property is strategically adjacent to a Winn Dixie, McDonalds, a Big Lots and Harbor Freight anchored center and well-positioned within a strong retail corridor with proximity to major national and local retailers. The property also benefits from great visibility, signage, and ample parking.
Liberty Health Sciences executed a 10 Year Net Lease with two five year options to extend and attractive 3 percent rental increases. This new location for Liberty Health Sciences recently opened for business in 2021. Liberty Health Sciences is under the umbrella of AYR Wellness, an expanding vertically integrated, U.S. multi-state cannabis operator, focused on delivering the highest quality cannabis products and customer experience throughout its footprint. As of Q4 2021, they operate 90+ dispensaries, over 557,000 sq.ft. of cultivation space, and employ more than 2,300 people.

  • 10-Year Net Lease
  • Attractive 3% Annual Rent Increases Throughout Base Term and Options
  • New Location | Opened 2021
  • Located Along Area’s Retail Corridor
  • Corporate Guarantee | Vertically Integrated, U.S. multi-state Cannabis Operator
  • High Traffic Counts | 42,000+ Vehicles Per Day
  • Below Market Rental Rate | $12.36 / SF
  • Superb Demographics | Over 75,000 Full Time Residents in the Immediate Trade Area
  • Part of Tampa Metro Area
  • Florida is a No Income Tax State

Property Documents

  • Liberty-Health-Spring-Hill-FL-om-ib
  • City: Spring Hill
  • State/county: Florida
  • Zip/Postal Code: 34606
  • Country: United States

Detail

  • Price: $984,266
  • Year Built: 1989

Additional details

  • CAP RATE: 6.00%
  • NOI: $59,056

Features