Fully Operational Cannabis Dispensary And Consumption Lounge Business For Sale (Coachella, CA)

CannaMLS ID: 12385
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Price: $499,000


Listing Details


Listing Category
Dispensary
Consumption Lounge

License Status
State / annual license granted


Price: $499,000

Listing Status: For Sale

Don’t miss this lucrative opportunity to invest in a fully operational Dispensary and Consumption Lounge in Coachella, California! The current owners operate a bustling dispensary, occupying an expansive 7,100 Sq Ft at the front of the premises. This unique opportunity is also coupled with a restaurant which you have the option to purchase for $250k. The owners have invested $1.8M into the build out of the dispensary and consumption lounge. The debt to tax collectors must be paid at closing, around $210,000, but the current vendor debt is $322,394. The buyers can assume and have payment plans with the vendors. Uniquely, the property owner offers flexibility in leasing options, providing the opportunity to rent just the front unit for the dispensary and consumption lounge, while the restaurant can be subleased.

In terms of financial performance, the business demonstrates robust revenues, generating an impressive gross revenues of $1,031,437 beginning April 2023 to December 2023. Adding to the appeal of this venture is the rising popularity of cannabis smoking lounges. Similar to traditional bars but for cannabis products like flowers, joints, and edibles, these lounges offer a space for socializing and consumption for those of legal age. With the city now permitting consumption lounges and events, the owners have strategically left the back portion of the property open for the new operator to utilize as they see fit, offering significant potential for expansion and diversification in this booming industry. 

 

Revenues:

April-Dec 2023 Gross Revenues: $1,031,437
Jan-March 2024 Gross Revenues: $386,041.06

 

Details:

Space: 8,100 Sq Ft (1,000 Sq Ft Restaurant)

Rent: $28,462/ month (Restaurant Pays $5,692)

Lease Terms: 10 Year Lease, Option for another 10 YR 

Option to Purchase Restaurant: $250k (Brand Not Included) 

Opened April 2023

Capital Invested: $1.8M

Parking Spaces: 98

Employees: 6

All Employees Could Stay w/ New Owners 

Included Assets: Camera System, (9) POS Systems, Display Counters, Lounge Furniture, Office Furniture, Two Safes, Commercial Shelves, 2 computers, & 4 iPads 

 

Licenses: 

Retail Storefront: Facility where cannabis, cannabis products, or devices for the use of cannabis or medical cannabis products are offered, either individually or in any combination, for retail sale, including an establishment that delivers, pursuant to express authorization by local ordinance, medical cannabis and medical cannabis products as part of a retail sale.

Consumption Lounge: Smoke, vaporize and ingest cannabis or cannabis products on the premises of a retailer or microbusiness licensed under the division.

 

Asking Price: $499,000.00 (Seller Open to Offers) 

Must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location. This listing is Fully Exclusive only by Green Life Business Group, Inc.

Green Life Business Group, Inc DRE CA LIC# 02061374

Drew Mathews, DRE CA LIC# 02091143

If you have any questions call Drew (619) 653-0483

Email: ceo@glbgroupinc.com

Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business.


Listing Details

Listing Status
For Sale

Location
California 92236

Date Listed For Sale:
3/28/2024

Date Last Updated:
5/16/2024

Property Details

Pricing Details

Listing Price
$499,000

Lease Terms:

Space: 8,100 Sq Ft (1,000 Sq Ft Restaurant)

Rent: $28,462/ month (Restaurant Pays $5,692)

Lease Terms: 10 Year Lease, Option for another 10 YR 

Option to Purchase Restaurant: $250k (Brand Not Included) 

Opened April 2023

Capital Invested: $1.8M

Parking Spaces: 98

Employees: 6

All Employees Could Stay w/ New Owners 

Included Assets: Camera System, (9) POS Systems, Display Counters, Lounge Furniture, Office Furniture, Two Safes, Commercial Shelves, 2 computers, & 4 iPads 


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