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MUV - Miami FL 9711 SW 77th Ave 3,481 SF Retail Building Miami, FL 33156 $4,427,602 CAD ($1,271.93 CAD/SF) 7.50% Cap Rate
Investment Highlights
- 6+ Years Remaining | 3% Annual Rental Increases |Award-Winning MÜV | Options to Extend | Growing Operator
- NNN Leased | Land and Building Ownership | No State Income Tax |Limited Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes |Proximity to Nearby Miami Trade Areas
- Dense, Infill Trade Area | Off Pinecrest Pkwy & Palmetto Expy | Top-Performing Retailers via Placer.ai | Kendall/Pinecrest Suburb
Executive Summary
• The tenant has 6+ years remaining on their lease with 2 (5-year) options to extend, demonstrating their long-term commitment to the site
• Headquartered in Chicago, Verano Holdings Corp. is a leading, vertically integrated, multi-state cannabis operator in the U.S. and publicly traded (CNSX: VRNO)
• U.S. Cannabis retail sales is one of the fastest growing industries in the country and are expected to surpass $50B annually within the next five years
• Trump’s recent proposal to move cannabis from Schedule I to Schedule III has major implications on the industry which would offer companies tax benefits, more financing availability, and increase operating margins
• Verano has grown to 15 cultivation/production facilities and 157 retail stores across 13 active states
• Verano is a top 4 cannabis MSO by revenue and their adjusted EBITDA margin of 35%is the highest of their peer group
• The lease features 3% annual rental increases throughout the initial term and option periods, boosting NOI and hedging against inflation
• Verano stock is up 40% over the past 6 months
• This location has received excellent reviews on Google, with a 4.9/5.0 average rating after 200+ reviews
• Headquartered in Chicago, Verano Holdings Corp. is a leading, vertically integrated, multi-state cannabis operator in the U.S. and publicly traded (CNSX: VRNO)
• U.S. Cannabis retail sales is one of the fastest growing industries in the country and are expected to surpass $50B annually within the next five years
• Trump’s recent proposal to move cannabis from Schedule I to Schedule III has major implications on the industry which would offer companies tax benefits, more financing availability, and increase operating margins
• Verano has grown to 15 cultivation/production facilities and 157 retail stores across 13 active states
• Verano is a top 4 cannabis MSO by revenue and their adjusted EBITDA margin of 35%is the highest of their peer group
• The lease features 3% annual rental increases throughout the initial term and option periods, boosting NOI and hedging against inflation
• Verano stock is up 40% over the past 6 months
• This location has received excellent reviews on Google, with a 4.9/5.0 average rating after 200+ reviews
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,481 SF
Building Class
B
Year Built/Renovated
1971/2022
Price
$4,427,602 CAD
Price Per SF
$1,271.93 CAD
Cap Rate
7.50%
NOI
$332,070 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.37
Lot Size
0.22 AC
Zoning
BU-1 - Community Business District
Parking
15 Spaces (4.31 Spaces per 1,000 SF Leased)
Frontage
63’ on SW 77th Ave
Amenities
- 24 Hour Access
- Fenced Lot
- Freeway Visibility
- Pylon Sign
- Security System
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | 30-5002-034-0020 | Improvements Assessment | $1,367 CAD |
| Land Assessment | $1,285,164 CAD | Total Assessment | $1,286,531 CAD |
Property Taxes
Parcel Number
30-5002-034-0020
Land Assessment
$1,285,164 CAD
Improvements Assessment
$1,367 CAD
Total Assessment
$1,286,531 CAD
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MUV - Miami FL | 9711 SW 77th Ave
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