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Fluent Cannabis 971 Cassat Ave 3,598 SF Retail Building Jacksonville, FL 32205 $2,577,328 ($716.32/SF) 7.25% Cap Rate
Investment Highlights
- NNN Lease: Ideal investment for a passive investor.
- Long Term Lease: 11.5-year initial base term with +9 years remaining, coupled with two (2) additional five-year renewal options.
- 4-Lane Drive-Thru: The property offers a significant competitive advantage with its fully equipped four-lane drive-thru
- Annual Rent Increases: The lease features 3.00% annual rental increases throughout the base term and 2.00% annual increases during the option periods
- Former Bank Building: This investment opportunity features a former bank building that has been successfully repurposed into a medical cannabis
- Strong Corporate Guarantee/Multi-State Operator: This lease is backed by a strong corporate guarantee.
Executive Summary
Broker of Record
Kyle Matthews
License # License # CQ1066435, BK3554632 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # License # CQ1066435, BK3554632 (FL)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,598 SF
Building Class
C
Year Built/Renovated
2004/2023
Price
$2,577,328
Price Per SF
$716.32
Cap Rate
7.25%
NOI
$186,856
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
0.75 AC
Zoning
CCG-1
Parking
24 Spaces (6.21 Spaces per 1,000 SF Leased)
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (82)
Nearby Major Retailers
Property Taxes
| Parcel Number | 062624-0000 | Improvements Assessment | $342,168 |
| Land Assessment | $836,232 | Total Assessment | $1,178,400 |
Property Taxes
Parcel Number
062624-0000
Land Assessment
$836,232
Improvements Assessment
$342,168
Total Assessment
$1,178,400
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