Monaca, Pennsylvania

🌿 Ascend Cannabis Dispensary — Absolute NNN Lease | 9.25% Cap | Corporate Guarantee

📊 Investment Highlights

• Absolute NNN lease — zero landlord responsibilities

• 13.1-year original term with 11.4 years remaining (commenced Feb 2024)

• 3% annual rent escalations provide steady income growth and inflation protection

• Corporate-guaranteed lease by Ascend Wellness Holdings (AWH), one of the nation’s largest publicly traded cannabis operators

• High-performing location within Pennsylvania’s medical-only market poised for adult-use expansion

• 7,876 SF freestanding retail building on 1.26-acre parcel

• Strategic visibility near Interstate 376 and 25 miles northwest of Pittsburgh

• Surrounded by national retailers — Arby’s, Burger King, Chick-fil-A, Dollar Tree, Shell

• 95 on-site parking spaces ensuring customer convenience and accessibility

🧾 Executive Summary

Marcus & Millichap is pleased to present the Ascend Cannabis Dispensary in Monaca, Pennsylvania—a fully passive, absolute NNN investment opportunity backed by a publicly traded corporate tenant.

Located just 25 miles northwest of downtown Pittsburgh and 16 miles from Pittsburgh International Airport, the property sits in a thriving retail corridor with national brand co-tenancy and consistent consumer traffic. Ascend operates as a top-performing dispensary within Pennsylvania’s medical-only program, with adult-use legalization expected to further strengthen performance and asset value.

The lease structure is fully net (zero landlord obligations) and provides 3% annual rent escalations throughout the term, offering investors reliable income growth and long-term security. With exceptional visibility, strong operator credit, and a corporate guarantee, this asset represents a premier opportunity for investors seeking stable, inflation-protected returns in the cannabis retail sector.

🏢 Property Overview

• Type: Retail / Net Lease

• Subtype: Storefront / Cannabis Dispensary

• Investment Type: Absolute NNN

• Tenant: Ascend Wellness Holdings (AWH) – Corporate Guarantee

• Lease Term: 13.1 years | Remaining Term: 11.4 years

• Lease Commencement: 02/10/2024 | Expiration: 02/28/2037

• Lease Options: Two (2) x 5-Year Options

• Square Footage: 7,876 SF (Net Rentable)

• Lot Size: 1.26 Acres

• Year Built: 1990 | Renovated: 2023

• Stories: 1 | Buildings: 1 | Units: 1

• Zoning: C-2 (Commercial)

• Parking: 95 spaces

• Occupancy: 100% (since 02/10/2024)

• NOI: $448,230

• Cap Rate: 9.25%

• Rent Bumps: 3% Annual

• Broker Co-Op: Yes

• APN: 56-011-0712.000

• Ownership: Corporate Fee-Simple

📍 Location Advantage

The property enjoys prime frontage and accessibility in Monaca, a strong retail submarket within the Pittsburgh metropolitan area. Its location along Interstate 376 ensures continuous exposure to commuter and regional traffic. Nearby retailers and hotel chains contribute to steady consumer draw, while proximity to Pittsburgh International Airport enhances logistics and visibility for the brand.

As Pennsylvania moves toward adult-use legalization, this asset stands to benefit from surging market demand and rising sales volumes—positioning it as a top-tier, stabilized cannabis investment with institutional-grade credit quality.

Offered Exclusively by Licensed Agents / Brokers

Listing #12130