Contacts
Eric Szczepkowski
Tri Town Retail Advisors
Property Details
- Property Type Retail
- Property Size 1,251 SF
- Lot Size 0.14 Acre
- Additional Rent Contact for pricing
- Year Built 1989
- Date Updated Nov 13, 2024
Tri Town Commercial Advisors is pleased to present a single-tenant, net-leased cannabis dispensary in the highly sought-after market of Martha’s Vineyard, located in the bustling State Road commercial district, anchored by Cronig’s grocery store. This flagship location features a thriving dispensary tenant who signed a 10-year lease in 2021, with 2.5% annual rent escalations throughout the primary term and option periods, providing steady income growth.
The property boasts a prime location in one of New England’s most iconic coastal destinations, drawing in a diverse customer base of both locals and tourists. It’s also within walking distance from the ferry terminal and is situated outside of the flood plain, further enhancing its desirability.
The Town of Tisbury is currently installing a sewer line along this stretch of State Road and is in the process of re-writing its zoning by-laws, creating more options for future redevelopment of this property. The dispensary operates under a NN lease structure, where the landlord is only responsible for roof and structural maintenance, ensuring minimal obligations.
Investment Highlights:
6+ Years Remaining: The tenant signed an 10 Year lease with 2 Five Year Options.
Scheduled Rent Increase: The lease features a 2.5% rental increase each year, and throughout the option years.
Landmark Location: Located in the heart of Martha’s Vineyard, this commercial property offers prime visibility and access in one of New England’s most sought-after destinations, attracting a steady flow of both locals and tourists.
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Reach out to the broker for more info on lease terms and amenities
Getting around
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61/100
Walk Score ®
-
45/100
Bike Score ®
Location
- City Vineyard Haven, MA
- Neighborhood Tisbury
- Zip Code 02568
- Market Boston
Points of Interest
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Shell
2.50 miles
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Phillips 66
2.97 miles
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Blink
6.30 miles
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AeroVironment
6.98 miles
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Stop & Shop
7.62 miles
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Mobil
7.84 miles
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Cumberland Farms
8.25 miles
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Catholic Church Tot Lot
0.66 miles
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Trade Winds Preserve Parking
2.21 miles
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Cedar Tree Neck Parking
4.44 miles
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USCG Parking
5.79 miles
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Steamship Employee Parking
5.88 miles
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Steamship Stand-by Lot
5.93 miles
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WHOI Challenger Lot
5.94 miles
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WHOI Parking
6.01 miles
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La Choza
0.69 miles
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Bobby B's Restaurant and Delivery
0.71 miles
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Nine
0.72 miles
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Mikado
0.80 miles
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Fish MV
0.80 miles
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The Attic
0.81 miles
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Waterside Market
0.81 miles
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Primo Pizza
0.82 miles
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El Barco | Tacos x Tequilas
0.82 miles
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ArtCliff Diner
0.83 miles
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Cronig's
0.10 miles
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Stop & Shop
0.80 miles
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Reliable
2.95 miles
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Alley's General Store
5.52 miles
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Trader Fred's
5.61 miles
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Walmart
7.88 miles
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Shaw's
7.99 miles
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TJ Maxx
8.04 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Contact Listing Broker
Eric Szczepkowski
Tri Town Retail Advisors
