Rec Retail & Cultivation License w/ Real Estate

Pricing Details

Full Buy Out Price:
$0
Buy In Price:
$0
Ownership Percentage:
100 %

Property Details

Property Attached:
No
Property Is Movable:
No
Property Is Included:
Yes
Has Buy-in Option:
No
Is Built Out:
Yes
Has Room For Expansion:
Yes
Operations Are Needed:
No

Offering. The opportunity to purchase a standalone building with an active Pre-ICO Recreation & Medicinal Cannabis Dispensary License. The CUP for the retail license includes approvals for 99 plant cultivation on site. Sale is contingent on Seller receiving a final Certificate of Occupancy prior to the close of Escrow which is in the final stages of completion, therefore the Buyer will take over a turn-key, permitted, operation. This would be the ideal opportunity for an operator looking for all in-place legal infrastructure to carry out their growing and retail vision!

 

Real Estate. The Real Estate is included in this sale. The building is 1,200 square feet and fully built out for the permitted retail and cultivation operation. The building sits on an 6,573 square foot parcel and includes the adjacent 6,970 square foot parcel. In total there is 13,146 square feet of land included which could be used for expansion of the existing license.

 

Future Expansion. The existing operation is permitted for retail and 99 plant cultivation. As per the City of Desert Hot Springs guidelines, this license can be expanded to include “ light manufacturing” and “delivery”.

 

Asking. Seller is asking $2,500,000 for the outright sale of the real estate and active retail license. Additionally, Seller is willing to Seller-Finance and/or partner with a well-qualified and experienced operator.

 

Proforma Calculations.

*These figures are based on a market study performed by the Seller. Seller and Agent make no representations or warranties about the future performance of this business. Buyer to satisfy themselves with their own financial projections.

 

Market Assumptions - Retail:

  • Annual Average 75 visitors / day

  • Average Consumption per visitor is $30

  • 20% NOI off Gross

Calculations - Retail:

  • Est. $820K gross sales

  • Est. $164K NOI

Market Assumptions - Cultivation:

  • 99 plant cultivation permit

  • 3 ounces per plan per cycle

  • 4 cycles per year

Calculations - Cultivation:

  • Est. $185K Gross

  • Est. $133K NOI

Total Operation Proforma:

  • Est. $197K NOI under existing licenses.

  • Potential for further uses should Buyer elect to add “light manufacturing” and “delivery” services.

Disclosure. The Seller is currently in contract to purchase the property and license. This sale is subject to the successful reassignment of the purchase contract to the new Buyer.

Price: $2,500,000

Listing Status: For Sale

Details

Date Listed For Sale: 4/12/2019
License Type:

Desert Hot Springs, California

Recreational: Yes
Medicinal: Yes

Listing Type

  • Grower/cultivator/producer
  • Dispensary
  • Real Estate