Company: IIPR
Filing Date: 2025-02-21
Form Type: S-3ASR
Source: 0001104659-25-016184
Chunk: 106

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-02-21
Form: S-3ASR
Chunk 106
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 of the effectiveness of internal control over financial reporting as of December 31,
2024, incorporated by reference in this prospectus and in the registration statement, have been so incorporated in reliance on the reports
of BDO USA, P.C., an independent registered public accounting firm, given on the authority of said firm as experts in auditing and accounting.

<div align='center'>WHERE YOU CAN FIND ADDITIONAL INFORMATION</div>

We file annual, quarterly and current reports,
proxy statements and other information with the SEC under the Exchange Act. Our Operating Partnership do not currently file separate
reports, proxy statements or other information with the SEC.

We will provide to each person, including any
beneficial owner, to whom our prospectus is delivered, upon request, a copy of any or all of the information that we have incorporated
by reference into our prospectus but not delivered with our prospectus. To receive a free copy of any of the documents incorporated by
reference in our prospectus, other than exhibits, unless they are specifically incorporated by reference in those documents, call or
write us at:

<div align='center'>Innovative Industrial Properties, Inc.
1389 Center Drive, Suite 200
Park City, UT 84098
Attn: Secretary
(858) 997-3332</div>

We maintain a website at www.innovativeindustrialproperties.com.Information
contained on, or accessible through our website is not incorporated by reference into and does not constitute a part of this prospectus
or any other report or documents we file with or furnish to the SEC.

This prospectus is part of a registration statement
on Form S-3 that we filed with the SEC. This prospectus does not contain all of the information set forth in the registration statement
and exhibits and schedules to the registration statement. For further information with respect to our company and our securities, reference
is made to the registration statement, including the exhibits and schedules thereto. Statements contained in this prospectus as to the
contents of any contract or other document referred to in this prospectus are not necessarily complete and, where that contract or other
document has been filed as an exhibit to the registration statement, each statement in this prospectus is qualified in all respects by
the exhibit to which the reference relates. Copies of the registration statement, including the exhibits and schedules to the registration
statement, may be examined without charge at the public reference room of the SEC, 100 F Street, N.E., Washington, D.C.