Trulieve 3119 N Davis St 6,566 SF 100% Leased Retail Building Pensacola, FL 32503 $2,391,120 ($364.17/SF) 7.75% Cap Rate

The property features a Triple Net (NNN) lease structure, with the tenant responsible for all expenses, including taxes, insurance, utilities, repairs, and maintenance. The lease commenced on September 1, 2021, and includes an initial 12-year term with two additional five-year extension options, providing long-term stability. The rent schedule begins at $179,334 annually and includes 2% yearly increases, ensuring consistent income growth. The premises are equipped with advanced security systems, including cameras, card readers, and alarm pads, offering enhanced protection. Zoned for retail use, the property is ideally suited for a medical cannabis dispensary, aligning with current tenant operations and market demand.
This freestanding retail property offers a prime location on a hard corner at North Davis Highway and East Texar Drive in Pensacola, FL. The building was renovated in 2021 and is fully leased to Trulieve under an absolute NNN lease, ensuring zero landlord responsibilities. Trulieve is a publicly traded company (TCNNF) with a strong financial profile, including $1.2 billion in revenue and $420 million EBITDA in 2024. The site benefits from excellent visibility, high traffic counts, and proximity to major highways, making it an irreplaceable location for retail operations.