602 N Dale Mabry Hwy - Restaurant FOR SALE


Tampa, FL 33609- North Bon Air
$5,173,000 USD
954-245-3416
602 N Dale Mabry Hwy, Tampa, FL for Sale
$5,173,000 USD
Restaurant - FOR SALE
1/9
null | 7.39% Cap Rate

602 N Dale Mabry Hwy
Tampa, FL 33609
North Bon Air


HIGHLIGHTS

  • Long-Term, Triple Net (NNN) Lease With 3, 5-Year Tenant Renewal Options
  • 2% Annual Rent Increases Throughout Base Term and Option Periods
  • Recently Renovated by Tenant and Now Open for Business
  • Prime Location in the Heart of Tampa Along Heavily Traveled Retail Corridor With Significant New Development in Immediate Area
  • Located on Dale Mabry Highway With a Traffic Count of More Than 57,500 Vehicles Daily
  • Average Annual Household Income is $105,545 in One Mile of the Property, and $131,205 in Three Miles

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a Jungle Boys Medical Cannabis Dispensary in Tampa, FL. The property features a long-term triple-net (NNN) lease with three, five-year tenant renewal options. There are two percent annual rent increases in the base term and option periods. The building was recently renovated by the Tenant and is now open for business. This property benefits from having a population of nearly 250,000 residents within five miles along with very strong annual household incomes of $105,545 in one mile and $131,205 within three miles of the property. Jungle Boys is a group of medical and recreational cannabis growers based out of Los Angeles, California. Jungle Boys Operates Locations in California – Los Angeles, Pomona, San Diego and Santa Ana; and in Florida – Bonita Springs, Daytona Beach, Deerfield Beach, Gainesville, Miami, Miami Beach, Ocala, Orlando, Palm Harbor, Tallahassee and Tampa. The company has new locations that are under construction in Jacksonville, St. Petersburg, and West Palm Beach. In addition, Jungle Boys has a strong fan base with customers who travel long distances to shop at their locations. This Jungle Boys is located at a prime location in the heart of Tampa, FL, along a heavily traveled retail corridor on Dale Mabry Highway, with a traffic count of more than 57,500 vehicles daily. There is a significant new development in the immediate area called Midtown Tampa, within walking distance from the Property. Midtown Tampa is a new social center, and the first mixed-use project of its kind in Tampa featuring 40+ retail shops and restaurants, entertainment, office and living spaces as well as a dual-branded, Element & Aloft Hotel, featuring 226 rooms. The Property is less than two miles from Raymond James Stadium, home to the NFL’s 2021 Super Bowl Champions, the Tampa Bay Buccaneers. The property is within close proximity to major shopping destinations such as International Plaza, which is also in close proximity to Tampa International Airport, and Walter's Crossing which is a major shopping destination anchored by Target, The Home Depot and Ulta. Surrounding national brands include Walmart Supercenter, The Home Depot, Publix Supermarket, Trader Joe’s, Whole Foods Market, Target, Burlington, Home Goods, Best Buy, Staples, DSW, Ulta Beauty, PetSmart, Mattress Firm, Ashley Furniture, Floor & Décor, Pet Supermarket, Rooms To Go, West Marine, Total Wine & More, Chili’s Grill & Bar, Outback Steakhouse, McDonald’s, Chipotle, Chick-fil-A, Wawa, Mercedes-Benz, Jeep, Dodge, Volkswagen, Chrysler and many more.

FOR SALE DETAILS

PRICE

$5,173,000 USD

PRICE/SF

$1,156 USD /SF

CAP RATE

7.39%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Jungle Boys Dispensary (Prime Tampa Location)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Drug Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,790 SF

ZONING

CG

APN/PARCEL ID

A-21-29-18-3LG-000013-00013.0

ASK ABOUT THIS PROPERTY

Barry WolfeWolfe-Lipsky Retail Group of Marcus & MillichapMore Info
954-245-3416

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Barry WolfeWolfe-Lipsky Retail Group of Marcus & MillichapMore Info
954-245-3416

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