For Sale
$1,609,200

91 Us Highway 19Crystal River, FL 34429

High-yield, net-lease retail property.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple, single-tenant retail property located at 91 NE US Hwy 19, Crystal River, FL 34429. The 4,163 square foot building, fully renovated in 2023, sits on a 0.44-acre lot and is currently 100% occupied by Green Dragon Cannabis under a net lease. The lease, initiated July 7th, 2023, features a 10-year initial term with a favorable 3% annual rent increase, minimizing landlord responsibilities for operating and capital expenditures. The property boasts a strong 7.00% cap rate and a substantial NOI of $112,644, with an asking price of $1,609,200 ($386.55/sq ft). The strategic location at the southeast corner of Suncoast Blvd (US Hwy 19) and NE 1st Street benefits from high visibility and significant traffic, with a combined AADT of 27,500. Green Dragon Cannabis, a well-established operator with 31 Florida locations, ensures a stable and reliable income stream. This is a prime retail investment in a thriving Florida market. The property is a single-story building.

Highlights

  • Net lease with minimal landlord responsibilities.
  • Fully renovated 4,163 SF building opened in 2023.
  • Ten-year initial lease term with 3% annual rent increases.
  • Prime Crystal River retail location at US Hwy 19 & NE 1st Street, high traffic area (27,500 AADT).
  • 100% occupied by Green Dragon Cannabis, a multi-state operator with 31 Florida locations.

Property Details for 91 Us Highway 19

Property type
Retail properties, Retail space
Square Feet
4,163 SF
Year Renovated
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
19,166 SF

Location Insight

City
Crystal River
County
Citrus
State
Florida
Latitude
28.89556388642
Longitude
-82.584564829358
91 Us Highway 19, Crystal River, Florida

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91 Us Highway 19
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