Trulieve - Bradenton
For sale1720 Cortez Rd, Bradenton, FL 34207
Property type
Retail
Unit / Space count
1
Price
$3,587,000
Building size
3,975 sf
Rentable area
3,975 SF
Year built
1957
Year renovated
Occupancy
Zoning code
Lot size
0.60 Acres
Sold/status
On Market
Price per Unit
$3,587,000
Price per SF
$902.39
Property description
Address: 1720 Cortez Road West, Bradenton, FL 34207 Building Size: 5,106 SF (freestanding Trulieve dispensary) Lot Size: ±0.60 acres (26,136 SF) Year Renovated: 2024 Parking: 16 dedicated spaces Tenant: Trulieve (leading medical cannabis operator; 233 locations nationwide, 162 in Florida, ~48% market share) Lease Structure: Absolute NNN – tenant covers taxes, insurance, utilities, repairs, maintenance. Lease Term: Pre‑rent period currently active ($235,000 NNN annually) until certificate of occupancy is issued Initial term: 10 years Estimated term expiration: 2035 Two (2) 5‑year renewal options 3% annual rent escalations Annual Base Rent (Pre‑Rent & Year 1): $235,000 Tenant Financial Profile: 2024 Revenue: $1.2B GAAP Gross Profit: $716M EBITDA: $420M 700+ SKUs, vertically integrated Ownership: Fee simple; delivered free & clear of debt.
Property highlights
- Fee Simple ownership with favorable depreciation opportunities
- Brand‑new 2024 renovation of a freestanding retail building
- Absolute NNN lease – zero landlord obligations
- High‑visibility location on Cortez Road with 54,500 VPD
- Dense trade area: 121,000+ residents and 48,386 employees within 3 miles
- Proximity to national retailers and high‑traffic shopping centers (Publix, Lowe’s, Cortez Plaza)
- Strong tenant credit: Trulieve is publicly traded (“TCNNF”), $1.2B revenue, $420M EBITDA
- 3% annual rent bumps provide attractive, consistent cash‑flow growth
- Growing metropolitan area (North Port–Sarasota–Bradenton MSA) with long‑term economic diversification
- This asset presents a compelling opportunity to acquire a brand‑new, freestanding Trulieve location on one of Bradenton’s busiest commercial corridors. The property is positioned for long‑term stability and strong passive income, supported by a 10‑year NNN lease with 3% annual escalations, two extension options, and no landlord responsibilities.
- Bradenton’s booming population, strong household formation, and annual influx of tourists create an environment where medical cannabis retail enjoys high unit‑level performance. The site’s exceptional exposure on Cortez Road (54,500 VPD) along with proximity to major national retailers enhances daily customer flow and ensures tenant success.
- The surrounding North Port–Sarasota–Bradenton MSA continues to experience rapid growth, fueled by healthcare, advanced manufacturing, logistics, and a robust education sector. Multiple major developments—including downtown revitalization initiatives and master‑planned community expansions—further reinforce long‑term demand and future appreciation potential.
- With a high‑performing national tenant, newly completed renovation, and an irreplaceable location in a surging Gulf Coast market, this Trulieve property delivers a resilient, inflation‑protected, low‑maintenance investment ideal for 1031 buyers and long‑term holders.