This property sits on a 6k SqFt Industrial & Light Manufacturing Zone in the City of Palm Springs (Population +45k). The property is split between two parcels. There is an existing tenant occupying the property who has a full Conditional Use Permit & State licensing approved for cannabis Retail, Delivery, Distribution and On-Site Consumption. The tenant has also invested over $1M into the buildout, fixtures, etc and is also looking to sell the business along with the entity that holds the licenses for an additional price to that of the property. Currently 2,000 SqFt is being allocated towards the Distribution and the seller has allocated 1,000 SqFt dedicated for a Consumption Lounge.
Excellent location being less than 2 miles from the Palm Springs International Airport, less than 2 miles from HWY-10, and blocks away from CA-111. This opportunity is perfect for an owner-user who is searching for a Licensed Cannabis Facility or an owner-user looking for an industrial building that has upgraded Power, Ventilation and HVAC.
California recently announced the “Provisional Deadline” (MJBizDaily Article), or temporary license, program will sunset June 30, 2022 with the first deadline being March, 31st, 2022. This means that in order to operate legally you must go through the arduous and lengthy time consuming process of obtaining a full “Annual” license or the only other option would be to acquire an already existing licensed business.
Real Estate Details:
- Total SqFt: 6,000 (est.)
- Lot SqFt: 22,650
- Acreage: 0.53
- Tenant Rent: $11,500/ Month
- Tenant Buildout & Fixture Investment: $1M
- Property Type: Industrial
- Land Use: Light Manufacturing
- Option to Purchase the Tenants Business for $799k
Licenses-Use Approved on Property:
- 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, cannabis and cannabis products as part of a retail sale.
- Non-Storefront Retail Delivery: Off-Premises Sales, Direct-To-Consumer.
- Distribution: Distribution of cannabis products from manufacturer to dispensary. Distributors may also transport cannabis goods to and from all cannabis businesses: Manufacturers, Cultivators, Nurseries, Retailers, Distributors.
- On-Site Consumption: THE NEXT BIG THING IN THE CANNABIS INDUSTRY, you can open up a marijuana lounge. The move gives visitors a place to smoke or eat edibles, since many hotels and rental properties don’t allow for smoking. Similar to alcohol, cannabis can’t be consumed in public places.
Asking Price: $2,290,000.00
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
Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business.