Curaleaf Cannabis Dispensary | 5420 Urbana Pike
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Curaleaf Cannabis Dispensary 5420 Urbana Pike
3,699 SF Retail Building Frederick, MD 21704 £4,237,557 (£1,146/SF) 6.80% Net Initial Yield
INVESTMENT HIGHLIGHTS
- LEADING CANNABIS OPERATOR: Curaleaf operates in 17 different states with over 140 retail locations nationwide.
- LEASE FUNDAMENTALS: Owner will benefit from 14-years of initial term remaining and 3% rental escalations as a hedge against inflation.
- NATIONAL CORNER: Subject shares a hard corner, lighted intersection with Chick-Fil-A, Starbucks, Wawa, Target & The Home Depot.
EXECUTIVE SUMMARY
STNL.com is pleased to present this 100% fee simple single-tenant Curaleaf dispensary in Frederick, MD. This 3,699/SF triple net property is conveniently located along the Urbana Pike connecting you to the nation’s largest retailers in Target, Home Depot, and
many more. Furthermore, with multiple points of egress and ingress, customers will enjoy easy access entering and leaving the premises. Additionally, Curaleaf is widely regarded as the leading cannabis operator in the nation with a footprint spanning over 145 retail stores, 17 states, and 18 cultivation sites. Curaleaf’s site in Frederick is also set to benefit from new legislation passed in 2023 legalizing the recreational use of cannabis products throughout the state of Maryland. This legislation was responsible for nearly $700M in total sales in the first year of legal recreational use of cannabis products. Furthermore, the Maryland Cannabis Landscape is set to become a Billion Dollar Industry by 2025.
The remaining term on this single tenant offering is 14-years in length and runs through September of 2037. The lease also calls for three percent (3%) annual rent increases. Through the balance of the lease the owner will enjoy an 8.05% blended CAP rate. This property can be acquired for $5,340,000.00.
many more. Furthermore, with multiple points of egress and ingress, customers will enjoy easy access entering and leaving the premises. Additionally, Curaleaf is widely regarded as the leading cannabis operator in the nation with a footprint spanning over 145 retail stores, 17 states, and 18 cultivation sites. Curaleaf’s site in Frederick is also set to benefit from new legislation passed in 2023 legalizing the recreational use of cannabis products throughout the state of Maryland. This legislation was responsible for nearly $700M in total sales in the first year of legal recreational use of cannabis products. Furthermore, the Maryland Cannabis Landscape is set to become a Billion Dollar Industry by 2025.
The remaining term on this single tenant offering is 14-years in length and runs through September of 2037. The lease also calls for three percent (3%) annual rent increases. Through the balance of the lease the owner will enjoy an 8.05% blended CAP rate. This property can be acquired for $5,340,000.00.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,699 SF
Building Class
B
Year Built/Renovated
1979/2022
Price
£4,237,557
Price Per SF
£1,146
Net Initial Yield
6.80%
NOI
£288,013
Tenancy
Single
Number of Floors
1
Building FAR
0.12
Lot Size
0.69 AC
Opportunity Zone
Yes
Zoning
GC - General Commercial
AMENITIES
- Air Conditioning
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 28-539576 | Improvements Assessment | £511,919 |
| Land Assessment | £435,500 | Total Assessment | £947,419 |
PROPERTY TAXES
Parcel Number
28-539576
Land Assessment
£435,500
Improvements Assessment
£511,919
Total Assessment
£947,419
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Curaleaf Cannabis Dispensary | 5420 Urbana Pike
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