For Sale
$4,435,776

3009 Dogwood RdEl Centro, CA 92243

High-yield STIIIZY NNN lease.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest in a 12,000-square-foot STIIIZY cannabis dispensary in El Centro, CA. The property boasts a strong corporate guarantee and an absolute NNN lease with a remaining term of 9.1 years, featuring 2.75% annual rent escalations. The current NOI is $365,952, yielding an 8.25% cap rate. Situated on a 1.39-acre lot with 57 parking spaces, the property enjoys a prime location as an outparcel to the Imperial Valley Mall, benefiting from high visibility on South Dogwood Road (12,800+ vehicles per day) and proximity to Interstate 8 (35,000+ vehicles per day). The surrounding area includes numerous national retailers, hotels, and educational institutions such as Imperial Valley College and university extension campuses. Built in 2008, this single-story building offers a secure, passive investment with significant upside potential due to the built-in rent increases and the tenant's strong financial standing. The lease includes two 5-year renewal options, extending the investment horizon. The property's APN is 054-530-063. This is a rare opportunity to acquire a high-performing, low-maintenance retail asset in a thriving market. The asking price is $4,435,776, representing a price per square foot of $369.65.

Highlights

  • $4,435,776 asking price for a 12,000 square foot, single-tenant, absolute NNN leased retail property.
  • STIIIZY, a major California cannabis retailer, is the corporate-guaranteed tenant.
  • The 12-year lease (9.1 years remaining) commenced January 5, 2022, and includes two 5-year renewal options with 2.75% annual rent increases.
  • Located in El Centro, CA, on a high-traffic retail corridor, this property is an outparcel to the Imperial Valley Mall and benefits from proximity to major highways and educational institutions.
  • The property features 57 parking spaces and a 1.39-acre lot.
  • 8.25% cap rate with a current NOI of $365,952 and a price per square foot of $369.65.

Property Details for 3009 Dogwood Rd

Property type
Retail properties, Cannabis farms
Square Feet
12,000 SF
Year Built
2008
Buildings
1
Stories
1
Lot Size (sq. ft)
60,548 SF
Units
1

Location Insight

City
El Centro
County
Imperial
State
California
Latitude
32.7658888
Longitude
-115.5330441
3009 Dogwood Rd, El Centro, California

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3009 Dogwood Rd
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