Off the Charts Dispensary Dayton, OH

Highlights:

• UPSIDE THROUGH ADDITIONAL RENT | There is a billboard generating $1,500/YR which has not been taken into consideration in our pricing.
• HIGH-YIELDING INVESTMENT | The property is being offered at a Year-1 in-place cap rate of 8.75%.
• LONG-TERM LEASE | There are over 7.5 years remaining on the base term of the lease, providing stability and security for investors.
• LIMITED COMPETITION | The nearest competing dispensary is approximately 4 miles away.
• STRONG CANNABIS MARKET | Ohio stands out as one of the most attractive cannabis markets in the nation, with medical marijuana sales exceeding $2 billion and recreational sales surpassing $155 million. The state recently approved recreational cannabis, with recreational sales beginning on August 6th, 2024.
• MULTI-STATE OPERATOR The tenant, Off The Charts, is a multi-state cannabis operator with +28 operations across +4 different states and is still in a phase of growth.
• STICKY TENANT | It is challenging for cannabis operators to relocate due to the stringent zoning regulations they encounter when seeking a retail location. If a cannabis tenant ever wishes to move a dispensary in Ohio, they must be approved to do so by the state board of pharmacy and follow a series of procedures to be granted the right (contact broker for these steps). The current cannabis tenant has recently invested over $1.2 million into the property.
• RAPID GROWING MARKET | According to the Dayton Daily News, Dayton is experiencing a citywide investment of over $1 billion in new construction projects. These projects include housing developments, the Handa/LG Venture Plant, AFMC headquarters renovation, The Greater Dayton School, Dayton Children’s Hospital, Dayton Convention Center, etc. These developments are expected to generate thousands of new jobs in and around Dayton. For updates on active developments, you can track them on the Dayton Business Journal Crane Dayton Business Journal Crane.

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