8123 4th St N - Storefront FOR SALE


Saint Petersburg, FL 33702- Gandy
$2,999,000 USD
813-434-8278
8123 4th St N, Saint Petersburg, FL for Sale
$2,999,000 USD
Storefront - FOR SALE
1/9
null | 7.04% Cap Rate

8123 4th St N
Saint Petersburg, FL 33702
Gandy


HIGHLIGHTS

  • 6 Years Remaining | Options To Extend | Corporate Guaranteed |2% Annual Rental Increases | Growing Cannabis Operator
  • Absolute NNN | Fee Simple Ownership | No State Income Tax | No Landlord Responsibilities
  • Fronting 4th Street | Off Signalized, Hard Corner Intersection |Surrounding Retailers | Proximity to Downtown
  • St. Petersburg - Several New Developments
  • Dense Demographics In 5-Mile Trade Area | St. Pete MSA | Annual Population Growth | Six-Figure Incomes

OVERVIEW

• 6 years remaining with 2 (5-year) options to extend, generating NOI and hedging against inflation • The lease features 2% annual rental increases throughout the initial term and at the beginning of each option • Corporate guaranteed by Cresco Labs, one of the largest vertically integrated multistate cannabis operators in the United States, with a mission to normalize and professionalize the cannabis industry • Cresco Labs now has 73 operating stores in 8 states and does nearly $655.8M in annual revenue • This location has received excellent reviews on Google, with a 4.9/5.0 average rating after 1,000+ reviews • Trump’s recent proposal to move cannabis from Schedule I to Schedule III has major implications on the industry which would offer companies tax benefits, more financing availability, and increase operating margins

FOR SALE DETAILS

PRICE

$2,999,000 USD

PRICE/SF

$721 USD /SF

CAP RATE

7.04%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunnyside - St Petersburg FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

43

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

Commercial Stores

APN/PARCEL ID

30-30-17-75528-004-0040

ASK ABOUT THIS PROPERTY

William WambleSRS Real Estate PartnersMore Info
813-434-8278

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William WambleSRS Real Estate PartnersMore Info
813-434-8278

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.