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309 N Woodland Blvd 3,755 SF Retail Building Deland, FL 32720 $1,999,900 ($532.60/SF) 7.68% Cap Rate
INVESTMENT HIGHLIGHTS
- - Fresh 10-year NNN lease with 3.5% annual escalations
- - Limited area competition
- - Gut renovation completed in Spring 2025
- - 21,000 AADT
EXECUTIVE SUMMARY
Located steps away from Stetson University in vibrant downtown Deland, FL, this one-of-a-kind offering is the first and only dispensary in the downtown Deland area. The property owner completed an extensive gut renovation in Spring of 2025, including new roof, HVAC, electrical, plumbing, walls, facade, flooring, doors and windows. There are zero maintenance expenses for the buyer to contemplate.
Planet 13 Holdings ($PLNH) is a publicly-traded company and assumed a fresh 10-year triple net lease in August 2025, with 3.5% annual increases for each year during the term. Extension options are in place through 2045.
The tenant benefits from limited competition in the market, being one of only two medical cannabis dispensaries in the market.
Year 1 Cap: 7.68%
Year 2 Cap: 7.95%
Year 3 Cap: 8.23%
Ten-Year Blended Cap Rate: 9%
Contact broker for full rent schedule
Planet 13 Holdings ($PLNH) is a publicly-traded company and assumed a fresh 10-year triple net lease in August 2025, with 3.5% annual increases for each year during the term. Extension options are in place through 2045.
The tenant benefits from limited competition in the market, being one of only two medical cannabis dispensaries in the market.
Year 1 Cap: 7.68%
Year 2 Cap: 7.95%
Year 3 Cap: 8.23%
Ten-Year Blended Cap Rate: 9%
Contact broker for full rent schedule
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,755 SF
Building Class
C
Year Built
1955
Price
$1,999,900
Price Per SF
$532.60
Cap Rate
7.68%
NOI
$153,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.36
Lot Size
0.24 AC
Opportunity Zone
Yes
Zoning
C-2A - Community Commercial
Parking
5 Spaces (1.33 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Planet 13
- Retailer
- 3,755 SF
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Planet 13 | Retailer | 3,755 SF | - | Triple Net | - |
Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7009-01-11-0080 | Improvements Assessment | $119,218 |
| Land Assessment | $472,500 | Total Assessment | $591,718 |
PROPERTY TAXES
Parcel Number
7009-01-11-0080
Land Assessment
$472,500
Improvements Assessment
$119,218
Total Assessment
$591,718
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309 N Woodland Blvd
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