10 acre property in Coachella, CA. Full development agreement and existing cannabis license. Current building is 19,000 sq ft with room and approval to add an additional four buildings and 160,000 sq ft. Business is fully operating in double stacked 4,000 sq ft (8,000 ft of canopy plus veg room, dry room, clone room). Operations began in late 2022. We are selling interest in the business to fund buildout of an additional 11,000 sq ft (22,000 canopy) in the existing building. With the full building operating, revenues are projected to be $8M annually, with net profits of about 45%. Space also exists for a manufacturing operation, which has already been approved by the City of Coachella. Business is an LLC, with associated distribution privileges.
Our business owns our property which is currently appraised at $11,000,000 (August 2022 appraisal). Ownership share therefore includes ownership in the property as well as the business. Several non-cannabis tenants occupy about 40% of the exterior property for storage and pay us $20,000 monthly for rent.