28 N Old Kings Rd
Palm Coast, FL 32137
Trulieve · Retail Property For Sale

This 6,434 SF building sits on a 0.82-acre lot and offers 55 parking spaces. The property is secured by an Absolute NNN lease with over nine years remaining, expiring August 31, 2033. Current rent begins at $210,731 annually with 2% annual escalations. The tenant, Trulieve, is a leading operator in the cannabis industry with $1.2 billion in revenue for 2024, $716 million in GAAP gross profit, and $420 million in EBITDA. The building operates as a medical cannabis dispensary and is strategically located in a dense retail corridor surrounded by major national brands, including Starbucks, Home Depot, Walgreens, CVS, Walmart, Lowe’s, Outback, and IHOP.
The site is strategically positioned in Palm Coast’s dense commercial corridor, providing excellent visibility and access from major arteries, including Palm Coast Parkway and Interstate 95. The building was fully renovated in 2021 and features modern finishes, efficient floor plans, and strong co-tenancy with national brands. The surrounding trade area benefits from above-average household incomes, strong employment bases, and consistent population inflow, making this a mission-critical retail location for Trulieve.