For Sale
$2,588,071

910 International Speedway BlvdDaytona Beach, FL 32114

High-yield, NNN-leased pharmacy; strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple, 5,734 square-foot retail pharmacy located at 910 W International Speedway Boulevard, Daytona Beach, Florida, 32114. The property, built in 1972 and situated on a 0.63-acre lot, is currently 100% occupied by Curaleaf, a major national operator with over 150 dispensaries. The absolute NNN lease, featuring a corporate guarantee, provides significant investor protection with zero landlord responsibilities. The lease commenced August 29, 2019, and has a remaining term of approximately 4.8 years, with two 5-year renewal options, exercisable concurrently with other properties in a five-unit portfolio. The current asking price is $2,588,071, representing a price per square foot of $451.36 and a 7.00% cap rate based on a net operating income (NOI) of $181,165. Annual rent bumps of 3% offer inflation protection. The property's APN is 5238-36-15-0110. This is a single-tenant property with a strong tenant and a secure lease structure, making it an attractive addition to any investment portfolio. The property is part of a larger portfolio of five Curaleaf properties, but can be purchased individually.

Highlights

  • $2,588,071 asking price for this 5,734 SF retail property.
  • Net lease investment with an absolute NNN lease structure.
  • Corporate guarantee from Curaleaf, a major national operator.
  • 10-year lease with 4.8 years remaining; 2 x 5-year renewal options.
  • 7.00% cap rate with a $181,165 NOI; 3% annual rent bumps.

Property Details for 910 International Speedway Blvd

Property type
Retail properties, Retail space
Square Feet
5,734 SF
Year Built
1972
Buildings
1
Lot Size (sq. ft)
27,443 SF

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2051027
Longitude
-81.0363466
910 International Speedway Blvd, Daytona Beach, Florida

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910 International Speedway Blvd
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