Offering. The opportunity to purchase a standalone building with an active Pre-ICO Recreation & Medicinal Cannabis Dispensary License. The CUP for the retail license includes approvals for 99 plant cultivation on site. Sale is contingent on Seller receiving a final Certificate of Occupancy prior to the close of Escrow which is in the final stages of completion, therefore the Buyer will take over a turn-key, permitted, operation. This would be the ideal opportunity for an operator looking for all in-place legal infrastructure to carry out their growing and retail vision!
Real Estate. The Real Estate is included in this sale. The building is 1,200 square feet and fully built out for the permitted retail and cultivation operation. The building sits on an 6,573 square foot parcel and includes the adjacent 6,970 square foot parcel. In total there is 13,146 square feet of land included which could be used for expansion of the existing license.
Future Expansion. The existing operation is permitted for retail and 99 plant cultivation. As per the City of Desert Hot Springs guidelines, this license can be expanded to include “ light manufacturing” and “delivery”.
Asking. Seller is asking $2,500,000 for the outright sale of the real estate and active retail license. Additionally, Seller is willing to Seller-Finance and/or partner with a well-qualified and experienced operator.
*These figures are based on a market study performed by the Seller. Seller and Agent make no representations or warranties about the future performance of this business. Buyer to satisfy themselves with their own financial projections.
Market Assumptions - Retail:
Calculations - Retail:
Est. $820K gross sales
Est. $164K NOI
Market Assumptions - Cultivation:
Calculations - Cultivation:
Est. $185K Gross
Est. $133K NOI
Total Operation Proforma:
Disclosure. The Seller is currently in contract to purchase the property and license. This sale is subject to the successful reassignment of the purchase contract to the new Buyer.