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Green Dragon Cannabis & DocMJ - Daytona Beach 915 Ridgewood Ave 4,702 SF 100% Leased Retail Building Daytona Beach, FL 32117 $2,727,116 CAD ($579.99 CAD/SF) 8.08% Cap Rate
Investment Highlights
- Two-Tenant Offering | Scheduled Rent Bumps | Options To Extend |Seller Financing Options Available
- Daytona International Speedway & Daytona International Airport |LPGA International (36-Holes) | Desirable Place To Live Via US News
- NNN Leased | Fee Simple Ownership | No State Income Tax | Limited Landlord Responsibilities
- Demographics 5-Mile Trade Area | Significant Population Growth
- Fronting Ridgewood Avenue/US Highway 1 | Primary Thoroughfare |Surrounding Retailers
Executive Summary
• Opportunity to acquire the 100% occupied two-tenant Green Dragon and Marijuana Doctor asset in Daytona Beach, FL
• Green Dragon is operating under a 10-year lease with 2 (5-year) options and Marijuana Doctor is operating under a 5-year lease with 2 (2-year) options, demonstrating their commitments to this location
• Green Dragon was recently acquired by Eaze Inc. (whose founder is billionaire Netscape co-founder Jim Clark) with plans to ramp up production and add new locations
• Green Dragon now has 40 locations throughout Florida and Colorado and has some of the highest dispensing units for cannabis companies
• Both tenants’ leases feature rental increases throughout the initial term and each option to extend, generating NOI and hedging against inflation
• Seller financing options are available for this opportunity – contact brokers for details
• Green Dragon is operating under a 10-year lease with 2 (5-year) options and Marijuana Doctor is operating under a 5-year lease with 2 (2-year) options, demonstrating their commitments to this location
• Green Dragon was recently acquired by Eaze Inc. (whose founder is billionaire Netscape co-founder Jim Clark) with plans to ramp up production and add new locations
• Green Dragon now has 40 locations throughout Florida and Colorado and has some of the highest dispensing units for cannabis companies
• Both tenants’ leases feature rental increases throughout the initial term and each option to extend, generating NOI and hedging against inflation
• Seller financing options are available for this opportunity – contact brokers for details
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,702 SF
Building Class
C
Year Built/Renovated
2002/2023
Price
$2,727,116 CAD
Price Per SF
$579.99 CAD
Cap Rate
8.08%
NOI
$220,311 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.37 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
27 Spaces (5.74 Spaces per 1,000 SF Leased)
Frontage
164’ on Ridgewood Ave
Amenities
- Corner Lot
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 4242-58-03-0140 | Improvements Assessment | $734,424 CAD |
| Land Assessment | $95,344 CAD | Total Assessment | $829,768 CAD |
Property Taxes
Parcel Number
4242-58-03-0140
Land Assessment
$95,344 CAD
Improvements Assessment
$734,424 CAD
Total Assessment
$829,768 CAD
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Green Dragon Cannabis & DocMJ - Daytona Beach | 915 Ridgewood Ave
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