Log In/Sign Up
Your email has been sent.
702 Us 27 S
Lake Placid, FL 33852
Retail Property For Sale
Investment Highlights
- 10 Year NNN Lease - 6 Years Remaining | Zero landlord responsibilities
- 2% Annual Rental Increases
- Corporate Guarantee
- Located on US-27 a major highway that runs through Lake Placid, FL
Executive Summary
The Good Group is pleased to offer for sale the fee simple interest in an Insa medical cannabis dispensary in Lake Placid, FL. Insa is a Massachusetts-based medical cannabis company that has retail stores in Florida, Massachusetts, Ohio and Pennsylvania. Unlock the potential of this STNL property with a national tenant boasting a corporate guaranty. Insa, a leading dispensary brand with established locations in Florida, Massachusetts, Ohio, and Pennsylvania.
The Insa medical cannabis dispensary has a 10-year lease with two percent (2%) annual increases with 6 years remaining. The tenant also has two additional 5-year options to extend the lease. The lease is guaranteed by GPM II, LLC, a Delaware limited liability company. The 2,814 SF building was renovated in 2022 for Insa and the rent commencement date was July 29, 2022.
The property is located on US Highway 27 South, the primary thoroughfare in Lake Placid. Lake Placid is approximately the same distance from Orlando, Tampa, Fort Myers, and West Palm Beach, four of the most populous cities in the state. The Insa property has excellent access and exposure to US Highway 27 South with an average of 21,500 vehicles per day passing by.
The Insa medical cannabis dispensary has a 10-year lease with two percent (2%) annual increases with 6 years remaining. The tenant also has two additional 5-year options to extend the lease. The lease is guaranteed by GPM II, LLC, a Delaware limited liability company. The 2,814 SF building was renovated in 2022 for Insa and the rent commencement date was July 29, 2022.
The property is located on US Highway 27 South, the primary thoroughfare in Lake Placid. Lake Placid is approximately the same distance from Orlando, Tampa, Fort Myers, and West Palm Beach, four of the most populous cities in the state. The Insa property has excellent access and exposure to US Highway 27 South with an average of 21,500 vehicles per day passing by.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
2,814 SF
Building Class
B
Year Built
1978
Price
$1,250,000
Price Per SF
$444.21
Cap Rate
7.47%
NOI
$93,386
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.65 AC
Zoning
C1 - Commercial Service District
Parking
47 Spaces (16.7 Spaces per 1,000 SF Leased)
Frontage
100’ on Us 27
Amenities
- Freeway Visibility
- Pylon Sign
Property Taxes
| Parcel Number | P-06-37-30-020-0020-0000 | Improvements Assessment | $308,130 |
| Land Assessment | $108,000 | Total Assessment | $416,130 |
Property Taxes
Parcel Number
P-06-37-30-020-0020-0000
Land Assessment
$108,000
Improvements Assessment
$308,130
Total Assessment
$416,130
1 of 7
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
