Cannabis Cultivation Facility for sale in Watsonville, CA 95076

Jade Coast Organic Farms, Inc (Jade) operates at 94 Hangar Way, Watsonville, California 95076.  It has been operating since 2016, producing high-quality indoor flower, and expects >$2MM revenue in the coming year. Jade was valued at $5,460,000 by Center Point Business Valuations, however, the company and all of its assets are available for $4.2 MM. 

Jade is currently flowering 3,700 sf. of the available 5,000 sf. of canopy and intends to get the remaining 1,300 sf. into production by Q3 2021.  They have successfully lobbied for an expansion allotment and are now approved for a second location within city limits, up to 22,000 sf of total flowering canopy, 11,000 sf nursery, and distribution business.

Why are they selling?

The primary reason why ownership of Jade Coast Organic Farms is accepting potential offers for acquisition at this time has mostly to do with the different visions of the owners about the path they intend to follow in the industry. Both owners would stay in with a new partner, or sell the business license and all the assets.

HIGHLIGHTS

HIGH-QUALITY FLOWER

On April 6, 2021 their most recent flower harvest tested at 34.7% THC and 42.6% cannabinoids.

PROPERTY LEASE

Jade has negotiated below-market lease rates along with other favorable terms for their current facility. This lease is extendable for 5 additional years. 

BUILDING UPGRADES

Since executing the lease in 2016 they have put approximately $800,000 into building upgrades.

PERMITS

Rare opportunity to step into a pre-existing entity already generating revenue and providing cash flow for a buyer while they expand into a second location. This license allows prospective buyers a means to bypass the lengthy application process and capitalize on the current cannabis boom immediately.

LICENSE EXPANSION

Jade has been approved for a total of  22,000 sf of canopy for flower, 11,000 sf of nursery and also distribution. They are currently only using 3,700 sf of canopy in their 9,200 sf building therefore their license can stay attached to the current building, (which will expand to 5,000 sf of canopy). The license also allows them to add an additional 17,000 sf of canopy at another location, as well as a nursery and distribution business.