Property Details
for 910 International Speedway Blvd
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.47 AC
Property size (Sq ft)
5,493 SF
Zone code
BA
Property type
Retail space
APN
5238-36-15-0110
APU
523836150110
Description
This exceptional investment opportunity presents a portfolio of four properties totaling 71,272 square feet, strategically located across Florida and New Jersey. The portfolio comprises three retail locations and one industrial facility, all leased to Curaleaf, a leading national cannabis operator with over 145 dispensaries and 18 cultivation facilities across 17 states. The properties benefit from absolute NNN leases, eliminating landlord responsibilities and offering a passive income stream. Each property's lease features a 10-year term, commencing August 28, 2019, and expiring August 30, 2029, with 4.8 years remaining. The leases include attractive 3% annual rent bumps, providing a hedge against inflation, and two 5-year renewal options. The portfolio boasts a strong 8.86% cap rate and a substantial net operating income (NOI) of $2,119,809. The asking price is $23,922,808, translating to a price per square foot of $335.66. The properties are situated on a combined 3.34 acres of land. The portfolio's master leases include a unique provision: renewal options for all four properties are exercised simultaneously. This ensures a cohesive and stable investment. Curaleaf's corporate guarantee provides significant financial backing, given their substantial 2023 net revenue of $1.35 billion. This portfolio offers a compelling combination of strong tenant credit, attractive lease terms, and significant upside potential. The properties are located at: 910 W International Speedway Blvd, Daytona Beach, FL 32114
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$1,694,573
6.5%
$1,564,221
7%
$1,452,491
Comparable approach
Method
Valuation
Relative Method
$2,041,565
Geo Method
$1,545,223
Alternative Use
Use
Valuation
Residential
$1,319,479
Hospitality
$1,208,636
Educational
$1,005,571
Medical
$1,040,154
Retail
$1,564,221
Location Insight
City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2051
Longitude
-81.0365
CBSA code
19660
CBSA name
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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