Surterra Wellness Cannabis Dispensary
3,819 SF | Retail Building | Merritt Island, FL 32952 | $1,995,000 ($522/SF) | 7.06% Cap Rate
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $1,995,000
- Property Type
-
Retail
- Square Feet
- 3,819 SF
- Price / Square Foot
- $522
Listing Contacts
Mark Thompson
Verified Profile
Nash Williams
Verified Profile
- Property Info
Property Overview
STNL.com is pleased to present this 100% fee simple single-tenant Surterra Cannabis dispensary in Merritt Island, FL, which is in the heart of Florida’s Space Coast. This 3,819/SF property sits on 0.92 acres and is just a short drive from world-renowned landmarks, Cocoa Beach & Kennedy Space Center. Merritt Island is home to several of the nation’s leading retailers that find themselves within a ½ mile of the subject property such as BJ’s Wholesale Club, Publix Super Market & The Home Depot. To go along with the neighboring aforementioned retailers, this Merritt Island corridor is growing even more as it is adding a new 120-bed, 7-story hospital just 0.2 miles from Surterra’s location. The Health First hospital will ensure the need for retail & medical adjacent tenants like Surterra for years to come.
The initial term on this single tenant offering is 10-years in length and runs through July of 2029. The lease also calls for ten percent (10%) rental increases every five years including through the option periods. This property can be acquired for $1,995,000.00
The initial term on this single tenant offering is 10-years in length and runs through July of 2029. The lease also calls for ten percent (10%) rental increases every five years including through the option periods. This property can be acquired for $1,995,000.00
Property Details
- Class
- B
- Year Built/Renovated
- 2006/2019
- Stories
- 1
- Property Subtype
- Bank, Drug Store
- Lot Size (sq. ft)
- 40,075 SF
Highlights
- Just minutes from Cocoa Beach & Kennedy Space Center
- 0.2 miles from future 7-story, 120-bed hospital
- BJ's Wholesale, Publix & The Home Depot are all within 0.5 miles of the subjcet property
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