Seller Financing Available w/ $1M Down, with Seller to Carry the Remainder Portion
The MicroBusiness consists of 4 Licenses: Retail Dispensary, Cultivation, Manufacturing Type 6 and Distribution located in the city of Lake Elsinore. The licenses are issued under a Conditional Use Permit to 3 commercial buildings (All Adjoining). The total space is roughly 4,600 Sq. Ft. and will be leased at $2.50/ Sq. Ft. + triple net.What makes this property an amazing deal is that the city of Lake Elsinore has put a moratorium on cannabis licenses and only issued 10. Of the 10 issued only 1 grow and 2 dispensaries are currently operating.This facility has the potential to be the 3rd dispensary open, 2nd grow and 1st manufacturer in the city. There are also no surrounding cities that allow for cannabis with no plans too in the near future.
Currently the Dispensary and Cultivation spaces are empty. The cultivation building is 1,850 Sq. Ft. which has an office and bathroom with 24,000 btu ac. The Dispensary building is 1,550 Sq. Ft. (Can be expanded, per the city ordinance it can be as large as 1,100 Sq. Ft. of 25% of the total operation) with an office and bathroom with 24,000 btu ac and another 24,000 btu ac in the warehouse. The plans for the dispensary have been submitted to the city and are pending approval for a building permit in order to begin construction. The Cultivation facility plans are almost complete and could be submitted. Owner was going to do a vertical grow design to maximize canopy with sliding racks and led lights. Owner has all quotes and special pricing if the new operator wants to stick with the original design. The facility was set to produce roughly $2,300,000 in cannabis selling at $1,800 per pound wholesale, but will be much higher when sold through the dispensary at retail. The facility could generate about 6-7 million in revenue.
The Manufacturing/Distribution facility is 99% built out and will just need extraction equipment installed to acquire the occupancy permit. This facility also has a California Annual Manufacturing License in place until May of this year and fees have been paid for $1,500,000 in sales. The Distribution license fees have also been paid and are current. This building requires security cameras that record 24/7 per California requirements, all magnetic locks and key card access, (Currently being installed), co2 ventilation (Installed) and alarm equipment, among the requirements in order to be compliant. There is a 3 basin sink with a commercial dishwasher as well. The building was built with metal stud framing and has smooth coated walls with 10’ ceilings. Each room has separately controlled inverter air conditioning units and led lights per title 24 building code. The floors also have a brand new epoxy coating. There is also a rotary screw elgi 60 gallon air compressor with dryer available for an additional fee. The Manufacturing facility will include 16 stainless steel storage racks, 12 4’ stainless steel tables.
Total Space: 4,600 Sq. Ft.
Rent: $2.50/ Sq. Ft. + NNN
Both Uses Recreational & Medicinal
Licenses: C.U.P.s for Retail, Cultivation, Manufacturing Type 6 & Distribution
Seller Financing Available: $1mil Down gets you in the door
Asking Price: $2.5mil (Seller Financing Available w/ $1M Down, with Seller to Carry the Remainder Portion)
Must sign an NDA/Waiver and have proof of financials before any other detailed information is released.