324 Merritt Island CswyMerritt Island, FL 32952

This exceptional investment opportunity presents a 3,819-square-foot, single-tenant net-leased Surterra Wellness cannabis dispensary in Merritt Island, Florida. Located on a 0.92-acre parcel at 324 E Merritt Island Cswy, 32952, this property boasts a strong location near major retailers like BJ's Wholesale Club, Publix, and The Home Depot, and a new 120-bed hospital under construction nearby. The property, built in 2006 and renovated in 2019, enjoys 100% occupancy with a current lease term extending to July 31, 2029, offering 4.7 years of remaining lease term with two, 5-year options. The lease includes 10% rent increases every five years, ensuring consistent income growth. The asking price is $1,995,000, yielding a 7.05% cap rate and a net operating income (NOI) of $140,814. This prime retail location benefits from its proximity to Cocoa Beach and Kennedy Space Center, attracting significant tourism and local traffic. The property's strong tenant, Surterra Wellness, is backed by a corporate guarantee, minimizing risk. This is a compelling investment opportunity with significant upside potential in a thriving retail corridor.