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3119 N Davis St
Pensacola, FL 32503
Trulieve · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Security: Equipped with advanced security systems including cameras, card readers, and alarm pads
- Ample on-site parking with 30 dedicated spaces and high traffic counts exceeding 38,000 VPD on nearby corridors
- Strong demographics with a daytime population of approximately 78,000 within a 3-mile radius and average household income nearing $98,000
- Positioned in a growing Pensacola market supported by major employers, military presence, and ongoing downtown redevelopment projects
EXECUTIVE SUMMARY
The property features a Triple Net (NNN) lease structure, with the tenant responsible for all expenses, including taxes, insurance, utilities, repairs, and maintenance. The lease commenced on September 1, 2021, and includes an initial 12-year term with two additional five-year extension options, providing long-term stability. The rent schedule begins at $179,334 annually and includes 2% yearly increases, ensuring consistent income growth. The premises are equipped with advanced security systems, including cameras, card readers, and alarm pads, offering enhanced protection. Zoned for retail use, the property is ideally suited for a medical cannabis dispensary, aligning with current tenant operations and market demand.
This freestanding retail property offers a prime location on a hard corner at North Davis Highway and East Texar Drive in Pensacola, FL. The building was renovated in 2021 and is fully leased to Trulieve under an absolute NNN lease, ensuring zero landlord responsibilities. Trulieve is a publicly traded company (TCNNF) with a strong financial profile, including $1.2 billion in revenue and $420 million EBITDA in 2024. The site benefits from excellent visibility, high traffic counts, and proximity to major highways, making it an irreplaceable location for retail operations.
This freestanding retail property offers a prime location on a hard corner at North Davis Highway and East Texar Drive in Pensacola, FL. The building was renovated in 2021 and is fully leased to Trulieve under an absolute NNN lease, ensuring zero landlord responsibilities. Trulieve is a publicly traded company (TCNNF) with a strong financial profile, including $1.2 billion in revenue and $420 million EBITDA in 2024. The site benefits from excellent visibility, high traffic counts, and proximity to major highways, making it an irreplaceable location for retail operations.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,566 SF
Building Class
C
Year Built/Renovated
1972/2004
Price
$3,294,485 CAD
Price Per SF
$501.75 CAD
Cap Rate
7.75%
NOI
$255,323 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
1.26 AC
Zoning
M-1 Light Industrial, C-3 - Zoning: Retail use suitable for medical cannabis dispensary
Parking
29 Spaces (4.42 Spaces per 1,000 SF Leased)
Frontage
180’ on Davis Hwy
AMENITIES
- 24 Hour Access
- Bus Line
- Fenced Lot
PROPERTY TAXES
| Parcel Number | 04-2S-30-6001-008-023 | Improvements Assessment | $863,376 CAD |
| Land Assessment | $138,882 CAD | Total Assessment | $1,002,259 CAD |
PROPERTY TAXES
Parcel Number
04-2S-30-6001-008-023
Land Assessment
$138,882 CAD
Improvements Assessment
$863,376 CAD
Total Assessment
$1,002,259 CAD
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