5420 Urbana Pike - Freestanding FOR SALE


Frederick, MD 21704
$5,340,000 USD
689-666-9560
5420 Urbana Pike, Frederick, MD for Sale
$5,340,000 USD
Freestanding - FOR SALE
1/4
null | 6.8% Cap Rate

5420 Urbana Pike
Frederick, MD 21704


HIGHLIGHTS

  • LEADING CANNABIS OPERATOR: Curaleaf operates in 17 different states with over 140 retail locations nationwide.
  • NATIONAL CORNER: Subject shares a hard corner, lighted intersection with Chick-Fil-A, Starbucks, Wawa, Target & The Home Depot.
  • LEASE FUNDAMENTALS: Owner will benefit from 14-years of initial term remaining and 3% rental escalations as a hedge against inflation.

OVERVIEW

STNL.com is pleased to present this 100% fee simple single-tenant Curaleaf dispensary in Frederick, MD. This 3,699/SF triple net property is conveniently located along the Urbana Pike connecting you to the nation’s largest retailers in Target, Home Depot, and many more. Furthermore, with multiple points of egress and ingress, customers will enjoy easy access entering and leaving the premises. Additionally, Curaleaf is widely regarded as the leading cannabis operator in the nation with a footprint spanning over 145 retail stores, 17 states, and 18 cultivation sites. Curaleaf’s site in Frederick is also set to benefit from new legislation passed in 2023 legalizing the recreational use of cannabis products throughout the state of Maryland. This legislation was responsible for nearly $700M in total sales in the first year of legal recreational use of cannabis products. Furthermore, the Maryland Cannabis Landscape is set to become a Billion Dollar Industry by 2025. The remaining term on this single tenant offering is 14-years in length and runs through September of 2037. The lease also calls for three percent (3%) annual rent increases. Through the balance of the lease the owner will enjoy an 8.05% blended CAP rate. This property can be acquired for $5,340,000.00.

FOR SALE DETAILS

PRICE

$5,340,000 USD

PRICE/SF

$1,444 USD /SF

CAP RATE

6.8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Curaleaf Cannabis Dispensary

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.69 AC

LAND SF

30,056 SF

ZONING

GC

APN/PARCEL ID

28-539576

ASK ABOUT THIS PROPERTY

Mark ThompsonSTNL.comMore Info
689-666-9560

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Mark ThompsonSTNL.comMore Info
689-666-9560

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.