Green Dragon Cannabis — Sale in Madison, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Madison, FL 32340

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Green Dragon Cannabis — Sale in Madison, FL, photo 1 of 2
Green Dragon Cannabis — Sale in Madison, FL, photo 2 of 2

Investment Figures

Cap rate
7.26%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the opportunity to acquire the Green Dragon cannabis dispensary located at 855 W Base Street in Madison, Florida. The offering consists of a 2,816-square-foot standalone retail building situated on approximately 0.79 acres, offered at $1,350,000, representing a 7.26% cap rate based on current NOI of $98,000. Green Dragon occupies the property under an absolute NNN lease with approximately 11.5 years remaining on the initial term, which extends through January 31, 2038. The lease provides investors with a long-term income stream and contractual growth, including 10% rent increases every five years throughout the initial term and four five-year renewal options. Annual rent is scheduled to increase from $98,000 to $107,800 in February 2028 and to $118,580 in February 2033, resulting in an 8.78% yield on the current asking price during lease years 11–15. The absolute NNN structure is designed to provide a passive ownership arrangement with limited landlord responsibilities. Green Dragon was founded in Colorado in 2009 and is now operated by Vireo Growth Inc., a multi-state cannabis operator. According to the OM, Vireo operates more than 170 locations, while Green Dragon has more than 40 dispensary locations nationwide. The Madison location opened in April 2023 as part of the company’s Florida expansion and has occupied the full building as the property’s sole tenant since January 2023. The property is positioned along West Base Street/US Highway 90, Madison’s principal commercial corridor, near the intersection with College Loop and directly across from North Florida College. The surrounding trade area includes an estimated 8,393 residents within five miles and 13,561 within ten miles, while average household income within five miles is projected to increase from $58,952 in 2025 to $69,383 by 2030. The corridor serves as Madison County’s primary retail and service hub and provides regional connectivity to Interstate 10. Investme

Market Context

This retail in Madison, FL is listed for sale. It is offered at an approximate 7.3% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Madison, FL — view the full market.

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