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Ascend Cannabis Dispensary 1451 Old Broadhead Rd 7,876 SF Retail Building Monaca, PA 15061 $4,845,000 ($615.16/SF) 9.25% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease With Annual Rent Increases
- One of the Largest Publicly Traded Cannabis Companies
- Proximity to Several National Hotel Chains - Close Proximity to Interstate 376 with Excellent Visibility - 25 Miles Northwest of Pittsburgh, PA
- Attractive 3 Percent Annual Rent Escalations Throughout the Base Term
- A Top-Performing Ascend Cannabis Dispensary in Pennsylvania’s Medical-Only Market, Set for Growth With Adult-Use Legalization on the Horizon
- Adjacent to Multiple National Retail Chains such as Arby’s, Burger King, Chick-Fil-A, Dollar Tree, Shell
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer for sale to qualified investors the opportunity to purchase a fee-simple interest in the Ascend Cannabis Dispensary asset located in Monaca, Pennsylvania (the “Property”). The Property is located 25 miles northwest of Pittsburgh and 16 miles from Pittsburgh International Airport and is part of the Pittsburgh metropolitan area.
It consists of a 7,876-square-foot freestanding retail building on a 1.26-acre parcel of land. Ascend is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease has over 11 years of term remaining, and features attractive 3 percent annual rent escalations throughout the base term, providing investors with a boost to overall cash flows and a significant hedge against inflation.
Broker of Record: Timothy Stephenson, Jr., Broker of Record, Marcus & Millichap Real Estate Investment Services, 2005 Market St., Ste. 1510, Philadelphia, PA 19103, P: (215) 531-7000, Lic #: RMR006104, Firm Lic #: RB062197C
It consists of a 7,876-square-foot freestanding retail building on a 1.26-acre parcel of land. Ascend is operating under an absolute NNN lease with zero landlord responsibilities whatsoever, offering a truly passive investment asset. The lease has over 11 years of term remaining, and features attractive 3 percent annual rent escalations throughout the base term, providing investors with a boost to overall cash flows and a significant hedge against inflation.
Broker of Record: Timothy Stephenson, Jr., Broker of Record, Marcus & Millichap Real Estate Investment Services, 2005 Market St., Ste. 1510, Philadelphia, PA 19103, P: (215) 531-7000, Lic #: RMR006104, Firm Lic #: RB062197C
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,876 SF
Building Class
C
Year Built/Renovated
1990/2023
Price
$4,845,000
Price Per SF
$615.16
Cap Rate
9.25%
NOI
$448,230
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.26 AC
Zoning
C-2 - General commercial district
Parking
95 Spaces (12.06 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Ascend Wellness Holdings
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Ascend Wellness Holdings | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 56-011-0712.000 | Improvements Assessment | $422,950 |
| Land Assessment | $84,150 | Total Assessment | $507,100 |
PROPERTY TAXES
Parcel Number
56-011-0712.000
Land Assessment
$84,150
Improvements Assessment
$422,950
Total Assessment
$507,100
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Ascend Cannabis Dispensary | 1451 Old Broadhead Rd
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