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1839 SW College Rd

10,933 SF Retail Building Ocala, FL 34471 $2,500,000 ($229/SF) 5.25% Cap Rate

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Executive Summary

Class A Retail Building with frontage on SR 200 (College Road) Ocala's #1 Corridor. The building is currently leased to a Curaleaf Florida, a Medical Cannabis Dispensary, who recently entered into their second 5 year term which is set to expire or renew in November 2028. Curaleaf Florida is leasing the property on a NNN basis with a current annual net income of $131,196 with 5% annual escalations. The property has substantial renovations to suit the tenant’s needs; the current interior buildout consists of reception, pharmacy, consultation rooms, warehouse, 4 roll up doors with varying levels of dock high loading, excellent exposure on SR 200, and ample parking. The property sits on .64 acres and is located on SR 200 close to I-75, US Hwy 441/301/27, Downtown Ocala, Local Hospitals, and the Marion County Courthouse.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

10,933 SF

Building Class

Year Built/Renovated

1984/2020

Price

$2,500,000

Price Per SF

$229

Cap Rate

5.25%

NOI

$131,196

Tenancy

Single

Building Height

1 Story

Loading Docks

4 Exterior

Building FAR

0.39

Lot Size

0.64 AC

Zoning

B-4

Parking

22 Spaces (2.07 Spaces per 1,000 SF Leased)

MAJOR TENANTS

Retailer
10,933 SF
$12.00
Triple Net
Nov 2028

Providing patients with quality cannabis for health and wellness has been the focus for Curaleaf for the last decade. Along the way, they've learned exactly how to cultivate the cleanest, purest cannabis strains from hand-grown, healthy and happy plants. While cannabis flower is a marvel, they believe that cannabis isn’t one-size-fits all. So, in addition to offering fresh cured flower, they also craft quality, lab-tested cannabis products, which are available in multiple product formats. Lots of dispensaries just focus on cannabis. At Curaleaf, they focus on your relationship with cannabis. They value your history with it—or lack thereof—and your feelings towards this ancient plant that’s brought us together. Set up a private consultation or just come in to learn more - you can ask them anything.