910 International Speedway Blvd Daytona Beach, FL 32114
- Retail space
- 5,493 SF
- 0.47 lot acres
Current Use by Public Records
- Demon Choppers / Motorcycle Dealer
- Curaleaf Dispensary Daytona / Holistic Medicine Practitioner / Cannabis Store
Property Details for 910 International Speedway Blvd
- Year built
- 1972
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.47 lot acres
- Property size
- 5,493 SF
- Zone code
- BA
- Property type
- Retail space
- APN
- 5238-36-15-0110
- APU
- 523836150110
Description
This exceptional investment opportunity presents a portfolio of four properties totaling 71,272 square feet, strategically located across Florida and New Jersey. The portfolio comprises three retail locations and one industrial facility, all leased to Curaleaf, a leading national cannabis operator with over 145 dispensaries and 18 cultivation facilities across 17 states. The properties benefit from absolute NNN leases, eliminating landlord responsibilities and offering a passive income stream. Each property's lease features a 10-year term, commencing August 28, 2019, and expiring August 30, 2029, with 4.8 years remaining. The leases include attractive 3% annual rent bumps, providing a hedge against inflation, and two 5-year renewal options. The portfolio boasts a strong 8.86% cap rate and a substantial net operating income (NOI) of $2,119,809. The asking price is $23,922,808, translating to a price per square foot of $335.66. The properties are situated on a combined 3.34 acres of land. The portfolio's master leases include a unique provision: renewal options for all four properties are exercised simultaneously. This ensures a cohesive and stable investment. Curaleaf's corporate guarantee provides significant financial backing, given their substantial 2023 net revenue of $1.35 billion. This portfolio offers a compelling combination of strong tenant credit, attractive lease terms, and significant upside potential. The properties are located at: 910 W International Speedway Blvd, Daytona Beach, FL 32114
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0365
- Latitude
- 29.2051
- CBSA code
- 19660
- CBSA name
- DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA
