Abs. NNN, New 10-year lease | 413 US Hwy 27
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Abs. NNN, New 10-year lease 413 US Hwy 27
5,758 SF Retail Building Lake Placid, FL 33852 £1,401,476 (£243/SF) 6.50% Net Initial Yield
Investment Highlights
- Total renovation underway; Tenant signed a new 10-year abs. NNN lease
- Located on US Hwy 27, the primary thoroughfare in Lake Placid (18,700 AADT)
- Trulieve is #1 cannabis operator in Florida
- 3% annual increases and 2-5-Year options to renew
- Located across from a 94,000 SF Publix-anchored center
- 3-mile demos: 10,755 residents with $66,697 average HH income
Executive Summary
RIPCO REAL ESTATE is pleased to present for sale 413 US HIGHWAY 27 NORTH, a 5,758 SF, single-tenant asset. The property is occupied by Trulieve, a publicly traded cannabis operator ranked #1 in Florida, who recently signed a new 10-year, absolute NNN lease, relieving the landlord of any property-related expenses. *Representative photo. Property is under renovation.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
5,758 SF
Building Class
C
Year Built/Renovated
1978/2024
Price
£1,401,476
Price Per SF
£243
Net Initial Yield
6.50%
NOI
£91,096
Tenancy
Single
Number of Floors
1
Building FAR
0.31
Lot Size
0.42 AC
Zoning
C1 - Neighborhood Commercial
Frontage
120 ft on Eastside Drive
Amenities
- Freeway Visibility
- Drive Thru
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Trulieve
- -
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Trulieve | - | 99,999 SF | - | Lorem Ipsum | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | P-31-36-30-080-00B2-0000 | Improvements Assessment | £356,687 |
| Land Assessment | £104,222 | Total Assessment | £460,909 |
PROPERTY TAXES
Parcel Number
P-31-36-30-080-00B2-0000
Land Assessment
£104,222
Improvements Assessment
£356,687
Total Assessment
£460,909
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Abs. NNN, New 10-year lease | 413 US Hwy 27
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