Leased Retail Cannabis
5580 Goods Ln Altoona, PA 16602
For Sale
Contact for pricing
Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Property Size10,606 SF
Price / SF$250.14
Days on Market441
Property Features for 5580 Goods Ln
General Information
Standard status
Active
Size
10,606 SF
Property subtype
RETAIL
Listing Agency:
SRS Real Estate Partners | McLean
(202) 286-1542
Listed By:
Andrew Fallon · License #RSR006585
(202) 286-1542
Source:
Moodyscre
Added: May 14, 2025
Changed: Jul 25
Last Checked: Jul 27 at 11:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | McLean
Investment Insights
Based on property information with market context.
This leased retail cannabis store is operated under the Zen Leaf name and features 7 years remaining on the current lease term. The lease includes four (5-year) extension options, supporting long-term site commitment. Rent is scheduled to increase by 2% annually throughout the initial term and during each extension option.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
The property is located at 5580 Goods Ln in Altoona, Pennsylvania (16602). The tenant, Verano Holdings Corp., is headquartered in Chicago and operates as a vertically integrated, multi-state cannabis company.
For investors and landlords, the current lease structure provides both a defined remaining term and multiple opportunities for continued occupancy, with contractual annual rent escalations included throughout the initial and extension periods.
Key Highlights
- Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf
- Includes four (4) additional five‑year extension options
- Lease calls for 2% annual rent increases throughout the term and during each option to extend
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.1k | $15.00 |
| − Vacancy | −$6.7k | −$0.63 |
| EGI | $152.4k | $14.37 |
| − OpEx | −$45.7k | −$4.31 |
| NOI | $106.7k | $10.06 |
10,606 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.78M
NOI $106,686 @ 7.0% cap · market cap 4.02%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$12.88M
$11.27M – $15.03M
NOI $901,747 @ 7.0% cap · market cap 33.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Net-leased retail asset with 7 years remaining on the current lease and four additional five-year extension options.
Where is this retail space located?
The property is located at 5580 Goods Ln Altoona, PA.
What is the asking price?
The asking price for this property is $2,653,000.
What are key features of this property?
This property features: Net‑leased retail asset with 7 years remaining on the current lease with Zen Leaf; Includes four (4) additional five‑year extension options; Lease calls for 2% annual rent increases throughout the term and during each option to extend
