- For Sale $2,500,000
- Property Type Retail
- Property Size 15,000 SF
- Lot Size 1 Acre
- Cap Rate % 8
- Date Updated Mar 13, 2024
HIGH-YIELDING INVESTMENT: The property is being offered at a Year-1 in-place cap rate of 8.00%.
LONG-TERM LEASE: There are 10 Years remaining on the base term of the lease, providing stability and
security for investors.
ATTRACTIVE RENTAL INCREASE: 2.00% Annual rental increases, providing investors with a hedge against inflation. Note: There is an opportunity for an immediate 7.68% rental increase if the tenant decides to replace the roof. This potential for the 7.68% rental increase does not interfere with the scheduled annual rental increases. (Please refer to the Lease Abstract for details on how roof replacement can lead to a rental increase.)
CORPORATE GUARANTEE: Green Thumb Industries Inc currently has +8 product brands, +90 dispensaries and +20 manufacturing facilities across 15 different states.
NEW HVAC & PARKING LOT: As part of the renovations, the Tenant is responsible for replacing the HVAC units and resurfacing the parking lot.
BELOW MARKET RENTS: The tenant is paying ±$13.33/SF in rent annually, significantly below market rates compared to other cannabis dispensaries.
GROWING CANNABIS MARKET: As of August 1st, 2023, recreational cannabis use and possession by individuals aged 21 and older became legal in Minnesota. Retail sales for recreational cannabis in Minnesota are expected to commence in the first quarter of 2025.
LIMITED COMPETITION: Green Thumb Industries Inc., DBA Rise, is one of only two cannabis operators licensed in the State of Minnesota. The nearest competitor’s store is ±60 miles away.
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Attachments
False
Contacts
Location
Getting Around
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Walk Score ®
65/100 Somewhat Walkable -
Bike Score ®
54/100 Bikeable
- City St. Cloud, MN
- Neighborhood West End St. Cloud
- Zip Code 56303
- Market Minneapolis St Paul
Points of Interest
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Saint Cloud
2.80 miles
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Kwik Trip
1.04 miles
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Speedway
1.04 miles
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Kwik Trip
1.16 miles
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Kwik Trip
1.26 miles
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SpeedStop
1.52 miles
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First Fuel Banks
1.56 miles
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First Fuel Banks
1.65 miles
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Go For It Gas
2.28 miles
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Sam's Club
2.28 miles
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Fleet Farm Gas
2.41 miles
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Gilleland Chevrolet
0.60 miles
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Bus Parking
1.94 miles
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St. Cloud Hospital Parking lot (building E)
2.08 miles
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O Lot
2.49 miles
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C Lot
2.50 miles
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AA Lot
2.51 miles
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V Lot
2.51 miles
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W Lot
2.52 miles
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Stateview Lot
2.54 miles
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Miller Pay Lot
2.55 miles
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Shortstop
0.09 miles
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Famous Dave's
0.14 miles
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Red Robin
0.30 miles
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Panda Express
0.32 miles
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Noodles & Company
0.33 miles
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Chinese Phoenix Express
0.37 miles
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Perkins
0.39 miles
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Duck's Sports Bar & Grill
0.40 miles
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Freddy's
0.40 miles
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Bonanza Steakhouse
0.42 miles
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Target
0.19 miles
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Macy's
0.26 miles
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Crossroads Center
0.28 miles
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Scheel's
0.36 miles
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JCPenney
0.40 miles
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Walmart Supercenter
0.53 miles
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Save-A-Lot
0.55 miles
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Cash Wise Foods
0.71 miles
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TJ Maxx
0.74 miles
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Kohl's
0.78 miles
Frequently Asked Questions
What is the lease rate for Rise Dispensary?
Rental asking rate at Rise Dispensary is $1,250,000.00/YR.
What is the total square footage of Rise Dispensary?
Rise Dispensary totals 15,000 square feet.
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