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Trulieve 2420 Washington Ave 5,608 SF Vacant Retail Building Houston, TX 77007 $3,621,939 CAD ($645.85 CAD/SF) 7% Cap Rate
Investment Highlights
- Trulieve (NYSE: TRLV) — 240+ dispensaries nationwide, $1.2B revenue, 60% gross margin
- 2.00% annual rental escalations providing predictable NOI growth
- Premier Houston infill location in the Washington Corridor, ±1.4 miles from Downtown
- Brand new 5-year NNN lease with two 5-year renewal options (~15 years total)
- Tenant holds Texas Compassionate Use Program medical cannabis license
- Texas limited-license market — only 15 total licensed operators statewide
Executive Summary
Patrick Graham
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
5,608 SF
Building Class
B
Year Built
1957
Price
$3,621,939 CAD
Price Per SF
$645.85 CAD
Cap Rate
7%
NOI
$253,550 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.56
Lot Size
0.23 AC
Zoning
None - N/A
Parking
15 Spaces (2.67 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 5,608 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 5,608 SF | Retail | - | Now |
1st Floor
| Size |
| 5,608 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0071590000001 | Improvements Assessment | $562,193 CAD |
| Land Assessment | $1,349,789 CAD | Total Assessment | $1,911,981 CAD |
Property Taxes
Parcel Number
0071590000001
Land Assessment
$1,349,789 CAD
Improvements Assessment
$562,193 CAD
Total Assessment
$1,911,981 CAD
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Trulieve | 2420 Washington Ave
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