Cannabis Cultivation Facility Long Term Tenant 7.9% Cap San Diego, CA

Details

Listing #5133

Asking Price: $5,250,000

Strong Cannabis Tenant – State of the Art Facility

Located in the heart of one of San Diego’s industrial zones, this facility is strategically centered between I-805 and I-15. Miramar is home to 100’s of medium to large scale businesses, and  is right next door to Sorrento Valley. Property values have continued to increase due to strong tenants and interest in the area. This is an opportunity to own a building with a strong cannabis operator, who has committed substantial upgrades to the property. The solid lease rate puts the investment at an almost 8% cap rate which is rare in this current market for industrial properties.

HIGHLIGHTS:

Property ($5,250,000)

• 10 year Lease with one (10Y) Option (2029 Term Date)
• $33,500/m + $3,000 (NNN)
• Strong Cannabis Tenant
• Multi-million dollar improvements completed in 2020
• Centralized Location
• 3 Star Flex Light Manufacturing
• Low Inventory
• 1200 A (3P)
• 24 Parking
• 0.51 Acre Lot
• Built 1990 / 12,393 Sq Ft

Miklos Campuzano – License# 02072292 – WeCann