Fully Leased Cannabis-Zoned NNN Investment | Dual Tenants | 9% Cap Rate | $595,000

5602 State Route 270, Pullman, WA 99163

Executive Summary

Located along the highly visible Moscow–Pullman Highway in Pullman, Washington, this property represents a rare chance to own a fully leased, cannabis-zoned NNN investment in one of the region’s most tightly regulated commercial corridors. Strategically positioned between Washington State University and the University of Idaho, this location benefits from a steady flow of student, commuter, and local traffic.

Set on 3.13 acres, the property features two stabilized tenants—a dispensary operating under a new 5-year lease with 5% annual rent increases, and a cannabis grow operation that has occupied the property since 2016. Cannabis-zoned properties in this corridor are extremely limited, making this a secure, high-yield investment with excellent long-term potential. With minimal landlord responsibilities, strong rent growth, and reliable tenants, this is a hands-off, income-producing asset in a high-demand market connecting two major universities.

Opportunity Details

• Asking Price: $595,000

• Cap Rate: 8.93%

• NOI: $53,148

• Property Type: Retail

• Sub Type: Storefront

• Tenancy: Multi-Tenant (Dispensary + Grow Operation)

• Lease Type: Absolute NNN – Fully passive investment

• Lease Term: Through December 31, 2030

• Renewal Options: One 5-Year Option

• Annual Rent Increases: 5%

• Building Size: 3,138 SF

• Lot Size: 3.13 Acres

• Zoning: Cannabis-Approved Commercial

• Condition: Well-maintained with newer roof and infrastructure

• Additional Upside: Includes an unused structure ready for redevelopment or additional income

• Occupancy: 100%