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Trulieve 3945 A1A 6,428 SF Retail Building Saint Augustine, FL 32080 $4,564,132 ($710.04/SF) 7.25% Cap Rate

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Investment Highlights

Corporate-guaranteed NNN lease with ±10.8 years remaining and four renewal options.
Long Term Lease – 15-year initial base term with over 10 years remaining, coupled with four (4) additional five-year renewal options featuring 3.00% a
New Roof – The property benefits from a new roof installed in 2026.

Fixed 3% annual rent escalations provide reliable income growth.
Significant Tenant Capital Investment – Trulieve has demonstrated a strong long-term commitment to this location through substantial capital investmen
Large Parcel Size – Situated on ±1.06 acres, the property offers strong residual land value and future redevelopment potential.

Executive Summary

This offering represents a rare opportunity to acquire a fee-simple, single-tenant retail investment leased to Trulieve, one of the largest and most established cannabis operators in the United States. The property is strategically located along A1A in St. Augustine Beach, a high-traffic coastal corridor with ±27,500 vehicles per day and strong synergy with national retailers such as Walgreens, Publix, Dunkin’, and Bank of America.
The asset features a long-term, corporate-guaranteed NNN lease with approximately 10.8 years remaining and four additional five-year renewal options, providing stable cash flow and predictable rent escalations of 3% annually. Trulieve has invested over $1.45 million in leasehold improvements and equipment, underscoring its commitment to this location. The property benefits from a new roof installed in 2026, excellent ingress/egress, and a large ±1.09-acre parcel offering residual land value and future redevelopment potential.
Situated in St. Johns County—one of Florida’s fastest-growing and most affluent markets—the site combines strong demographics, high household incomes, and robust retail demand. This investment delivers a secure income stream backed by a leading multi-state operator with a proven track record of growth and profitability.

Trulieve - Augustine Beach, FL - OM (1)

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Restaurant

Building Size

6,428 SF

Building Class

Year Built/Renovated

1988/2022

Price

$4,564,132

Price Per SF

$710.04

Cap Rate

7.25%

NOI

$330,899

Tenancy

Single

Building Height

1 Story

Building FAR

0.22

Lot Size

0.66 AC

Zoning

CG-B

Parking

60 Spaces (9.33 Spaces per 1,000 SF Leased)

Frontage

100’ on A1A South

Pylon Sign

Restaurant

Storage Space

Air Conditioning

Major Tenants

Manufacturing
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Trulieve is an industry leading, vertically integrated cannabis company and multi-state operator in the U.S., with established hubs in the Northeast, Southeast, and Southwest, anchored by leading market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing innovative, high-quality products across its brand portfolio, Trulieve delivers optimal customer experiences and increases access to cannabis, helping patients and customers to live without limits. Trulieve is listed on the CSE under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.