Cannabis Retail - Wonderful Demographic Area - Limited Competition

CannaMLS ID: 7318
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Price: $3,750,000


Listing Details


Listing Category
Dispensary

License Status
Municipal / local license granted
State / annual license granted

Medical
YES

Adult Use
YES

Price: $3,750,000

Listing Status: For Sale

Hight Traffic Location - Consistent Profitability

This business is a community favorite cannabis retail store located on a major arterial, with a daily traffic count of approximately 32,000 cars. The resident population within 3 miles of the store exceeds 90,000 people. The community has a median age of 39 & average household income of slightly under $115,000 per year, a prime demographic for acceptance & incorporation of marijuana for medicinal &
recreational purposes.

A full spectrum cannabis retail business, customer demand exists for flower, prerolls/blunts, concentrates, edibles, and topical creams. Top selling brands at the store include Canna Organix, Exotikz, Crafts Elixirs, Mr. Moxey’s, Oleum, Heylo, Dose, Seattle Bubble Works, Ceres, and Wildflower. Direct engagement with customers occurs through a newsletter and participation in the company’s loyalty program creating a strong percentage of repeat customers.

The business is executively managed by an owner operator. A knowledgeable,
experienced cannabis entrepreneur, the business has been set up to employ best practices, offer high quality products, and provide superior customer service.

Management leadership is provided for daily operations by a
general manager, marketing & operations manager, and a nights & weekends supervisor. The management staff is supported by 10 – 15 full & part-time employees.

The business operates out of an approximately 2400 square foot space specifically built out for cannabis business operation. The company started a new five-year term for the lease in March 2021 at a rate of $14,500 per month. Two additional five-year extension terms exist for continued operation of the business.

The business broker at IBA fielding initial inquiries about the business is Seth Rudin. Mr. Rudin can be contacted directly at (425) 454-3052 or seth@ibainc.com.


Listing Details

Listing Status
For Sale

Location
Washington 98001

Date Listed For Sale:
8/29/2022

Date Last Updated:
8/31/2022

Generating Revenue:
YES

Operational:
YES

Property Details

Buiding Size (sq ft)
2400 sq ft

Built out / Turnkey
YES

Equipment Included
YES

Room for Expansion
YES

Pricing Details

Listing Price
$3,750,000

Seller Financing Available?
YES

Lease Terms:

Friendly landlord and 2 five year extensions available 


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