Lake Mary, FL - AYR Cannabis

3701 W Lake Mary Blvd, Lake Mary, FL

$3,842,000

Price

7.2%

Cap Rate

$276,639

NOI

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Street
Map
Overview
Cap Rate
7.2%
NOI
$276,639
Building Size
3,335 sqft
Lot Area
0.69 acres
Description

• 9+ years of remaining term on the original 10-years lease with 2 (5-Year) options to extend, demonstrating long term commitment to this site
• The lease features 10% rental increases every 5 years throughout the initial term and at each option to extend
• The lease is corporately guaranteed by AYR Wellness, Inc. (CSE: AYR.A), a major vertically integrated multi-state cannabis operation in the U.S. (85+ Units)
• This dispensary is open and operating with stellar Google reviews averaging a rating of 4.8 stars

• Lake Mary Blvd (63,800 VPD) intersects with Rinehart Blvd (28,000 VPD) and provides direct on and off ramp access to Interstate 4 (161,500 VPD)
• This asset is located in a dense retail corridor with surrounding national credit tenants such as Publix, Target, Staples, TJ Maxx, Home Goods, Chipotle, Starbucks, 7-Eleven, McDonald’s, Walgreens and many others
• The subject property is strategically positioned between two signalized intersections and is also drive-thru equipped
• More than 158,600 residents and 87,400 employees support the trade area
• The AHHI exceeds $120,600 within a 3-mile radius

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Listing ID: a288X000007VlA1QAK
Location
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