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Silver Therapeutics Cannabis Dispensary 60 Route 236
2,689 SF Retail Building Berwick, ME 03901 $2,200,000 ($818/SF) 10% Cap Rate
Investment Highlights
- Absolute NNN 15-Year Lease With No Landlord Responsibilities
- Closest Adult-Use (Recreational) Cannabis Dispensary to New Hampshire in the Berwick Area
- Operated by Silver Therapeutics, a Northeast-Focused Multi-State Operator With Seven Dispensaries in New York, Massachusetts, Maine and Vermont
- Aggressive 3 Percent Annual Rent Increases
- Population of 44,972 With $90,315 Average Household Income Within 5-Mile Radius
- Within Commuting Distance of Dover, NH; Portsmouth, NH; Portland, ME; and Boston, MA - U.S. Route 4 and Interstate 95 Within 12 Miles
Executive Summary
Silver Therapeutics has operated at this location since 2021 and recently signed a lease amendment committing to a 15-year term with 3 percent annual rent escalations.
The Property features 1,464 square feet of rentable building area on approximately 0.94 acres of land along State Route 236. Strategically located along the border with New Hampshire, a medical-cannabis-only state, this adult-use (recreational) dispensary is within one mile of Somersworth, NH.
Founded in 2017, Silver Therapeutics is a Northeast-focused multi-state operator with seven dispensaries in New York, Massachusetts, Maine and Vermont. In addition to its current Saratoga Springs location, the company is on track to open three more New York stores in the next three to six months. Silver Therapeutics has an exclusive partnership with a women-owned cultivation facility in Brunswick, ME, to stock their Maine locations with unique strains.
Berwick is part of the 561,576-person Portland-South Portland-Biddeford metropolitan statistical area, and the town offers a blend of small-town charm and proximity to major cities. The Salmon Falls River separates Berwick from Somersworth, NH, and offers scenic views and outdoor activities.
Property Facts
Amenities
- Monument Signage
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
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- Retailer
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99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
They are a locally owned and operated business on a mission to help communities achieve their wellness and enjoyment goals through the use of high quality cannabis. They have a lot to offer on their current cannabis menu. If someone is unsure about a specific product or has any questions, they can call them during business hours and they will be happy to assist. Their menu changes depending on availability, so it could be the case that they have additional products not mentioned on the current menu.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
PROPERTY TAXES
| Parcel Number | BERW-000057R-000000-000055 | Improvements Assessment | $267,600 |
| Land Assessment | $146,000 | Total Assessment | $413,600 |
PROPERTY TAXES
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Silver Therapeutics Cannabis Dispensary | 60 Route 236
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