910 International Speedway BlvdDaytona Beach, FL 32114

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 properties

Property subtype

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

• 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

Property Tax & Assessments

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