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Prominent, Multi State Cannabis Operator

$2,750,000

3111 Emmorton Road, Abingdon, MD 21009

Active
Last Updated: 12/20/2024

9.55

Cap Rate

262,776

NOI

Details:
Cap Rate:    9.55%
NOI:    $262,776
Building Size:    2,009 sqft
Lot Area:    1.05 acres
Lease Type:    Absolute Net
Year Built:    1977
Roof:    Tenant Responsible
Lease Expire Year:    10/10/2034
Highlights:
  • LONG LEASE TERM With over 9 years remaining on the base term of the lease, coupled with two additional five-year options, investors can capitalize on a sustained source of passive cash flow
  • ATTRACTIVE ANNUAL RENTAL INCREASES This opportunity presents annual rental escalations based on the higher of 2.5% or 75% of the Consumer Price Index (CPI), providing a safeguard against inflation.
  • ABSOLUTE NNN LEASE Zero Landlord Responsibilities
  • LIMITED COMPETITION There are only two competing dispensary locations within a 10-mile radius, with the nearest competitor over 5 miles away.
  • STICKY TENANT In addition to securing a property with appropriate zoning, cannabis dispensaries in Maryland must be located at least 1,000 feet from another dispensary and at least 500 feet from a school, recreation center, library, place of worship, or public park.
  • STRONG RETAIL SYNERGY The subject property is situated near some of the nation’s largest retailers, including Dunkin’, Wegmans, Hobby Lobby, HomeGoods, Wawa, Panera Bread, and more.
  • CLOSE PROXIMITY TO I-95 The subject property is located approximately 1.2 miles from I-95
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