WireWorks Retail Center

CLOSED
WireWorks Retail Center

Newly Renovated Property in the Last Two Years
​100 Percent Occupancy | MUV Medical Cannabis Dispensary Anchor Tenant

New TPO Roof in 2019 | 20-Year Warranty
​Newly Paved Parking Lot
​New Exterior Façade in 2019
​All Tenant Suites are New Buildouts

224 North Florida Avenue, Lakeland, FL 3380

* Sale Price $3,220,000

* Sold at 96% of List

* Closed in 51 Days

224 North Florida Avenue -Lakeland, FL.JPG
2.JPG
3.JPG
4.JPG
5.JPG

Market Summary

Price                                    $3,348,000

Cap Rate                             6.50%

NOI                                      $217,626

Rentable SF                        10,028 SF

Price per SF                        $333.87

Year Built / Renovated       2002 / 2019

Lot Size                               0.56 Acres

Description

Marcus & Millichap is pleased to present Wireworks Retail Center in Lakeland, Florida.​ The property has recently been renovated with a new roof, facade, parking lot, and suite buildouts.​ MUV contributed over $100,000 to their buildout.​


Lakeland is the largest city on Interstate 4 between Orlando and Tampa.​ Large industries in the Lakeland area are citrus, cattle, and phosphate mining.​ In the past few decades, tourism, medicine, insurance, transportation, and music have grown in importance.​ Known for a lower cost of living and home to Florida Southern College, it is a family-friendly area with many lakes, parks, and other desirable attractions.​

The anchor tenant MUV is owned by Verano Holdings Incorporated.​ They are a leading, vertically integrated, multi-state cannabis operator in the U.​S.​ that is devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products.​ Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands with a mission to address vital health and wellness needs: Verano™, Avexia™, Encore™, and MÜV™.​ The company’s portfolio encompasses 14 U.​S.​ States, with active operations in 11, which includes nine production facilities comprising approximately 770,000 square feet of cultivation.​ Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV, delivering a superior cannabis shopping experience in both medical and adult-use markets.​