11909 Sr 52, Hudson, FL 34669

Marcus & Millichap is pleased to present the opportunity to acquire a Trulieve Cannabis Dispensary located in Hudson, Florida (Tampa Metro Area). This property features a brand-new, triple net (NNN) lease with two, five-year tenant renewal options and rent increases of ten percent every five years throughout the base term and option periods. The building is being renovated by the tenant at the tenant's expense.
Florida will include cannabis legalization for recreational sales on the November ballot. Additionally, the cannabis industry is undergoing a process to transition from Schedule I to Schedule III classification. This change is expected to offer several benefits to the sector, particularly in terms of improved tax treatment, which could significantly enhance the financial status of cannabis operators.
The lease is corporate guaranteed by Trulieve Inc., one of the largest and most profitable U.S. cannabis operators with nearly 200 dispensaries nationwide. Operating in nine states, the company expanded its reach by acquiring licenses in Connecticut, Pennsylvania, and West Virginia. Trulieve recently received a federal tax refund of approximately $113 million after challenging IRS guidelines for 280E.
The property is surrounded by a population of over 82,000 within a five-mile radius and nearly 260,000 within a ten-mile radius. Situated in a high-traffic area, it boasts excellent access and visibility, with more than 29,000 vehicles passing by daily on State Road 52. It is strategically located between three major thoroughfares: US Hwy 589 Suncoast Pkwy with 38,700 vehicles per day, US Hwy 41 with 46,500 vehicles per day, and US Highway 19 with 63,000 vehicles per day.
Surrounding national retailers include Publix Super Market, ALDI, MD Now Urgent Care, Family Dollar, Tractor Supply Co., Tire Kingdom, McDonald’s, Taco Bell, Dunkin’, O’Reilly Auto Parts, Dollar General, Advance Auto Parts, Burger King, Wawa, Checkers, Verizon, Popeyes Louisiana Kitchen, Subway, Wells Fargo Bank, Aaron’s Rent To Own, Five Below, Dollar Tree, Truist, UPS Store, Mavis Tires & Brakes, KFC, Big Lots, AutoZone Auto Parts, Wendy’s, Tires Plus, Ollie’s Bargain Outlet, Denny’s, Bealls, Planet Fitness and many more.