Single Tenant NNN Trulieve 7002 State Road 54 2,400 SF Retail Building New Port Richey, FL 34653 $1,414,733 CAD ($589.47 CAD/SF) 6.30% Cap Rate

This offering presents the opportunity to acquire a fully renovated single-tenant retail asset leased to Trulieve Cannabis Corp., one of the largest cannabis operators in the United States. The property is secured by a corporate guaranteed triple-net (NNN) lease with approximately 8.3 years of remaining term and 3.00% annual rent increases, providing investors with stable income and built-in rental growth.
The tenant operates under a NNN lease structure and is responsible for property taxes, insurance, and maintenance, resulting in minimal landlord obligations. The building recently underwent a comprehensive renovation including a new roof, new HVAC systems, upgraded façade, site improvements, and a full interior build-out, significantly reducing near-term capital expenditure risk.
Strategically located at the southeast corner of State Road 54 and Celine Avenue in New Port Richey, Florida, the property benefits from traffic counts exceeding 50,000 vehicles per day, more than 200 feet of frontage, and multiple points of ingress and egress including median break access.
The surrounding trade area is supported by the continued expansion of Pasco County, one of the fastest-growing counties in the United States, with population growth of approximately 30% over the past decade.
This combination of a nationally recognized tenant, long-term lease with annual rent increases, recent capital improvements, and strong population growth positions the asset as a compelling net-lease investment opportunity.