Listing ID : 948822
Listed On March 2, 2026 199
Listing Updated March 2, 2026
This 41,000 sq ft institutional-quality, purpose-built industrial asset is fully leased under a long-term, structured agreement designed to deliver predictable income with meaningful contractual growth. The lease features annual rent escalations and phased-in expense reimbursements, driving a strong, visible NOI ramp that translates into expanding returns over the hold period. Based on the current offering price, the investment reflects an approximate 10.3% cap rate in Year 1, increasing steadily to approximately 13.73% by Year 7, without reliance on re-leasing or market rent assumptions. Constructed in 2019 with significant specialized infrastructure and located within a city-approved operations park, the property offers durable cash flow, minimal ownership responsibilities, and a compelling basis below replacement cost.
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Institutional quality cannabis industrial investment located within an established, city-approved cannabis cultivation park in Desert Hot Springs. Totalling 41,000 sq feet, Building 1, Unit A is fully leased to a state and city-licensed indoor cultivation operator under a long-term, structured lease with strong rent escalations and significant pass-throughs.
The property is leased to Thrive 11 LLC, a licensed medium indoor cultivation operator with both California DCC approval and City of Desert Hot Springs permits in place. The lease commenced June 1, 2025, and features an initial seven-year term with two five-year extension options and 2% annual rent increases. Base rent begins at approximately $82,000 per month in year one, with additional security, CAM, and NNN charges phased in, resulting in a highly predictable and growing income stream. The tenant is responsible for all utilities, interior maintenance, and cannabis specific operating costs.
Constructed in 2019, the building is a metal construction with reinforced concrete block perimeter walls and was purpose-built for cannabis use. The property includes extensive electrical infrastructure, modern LED cultivation lighting, and specialized improvements that support high-intensity indoor cultivation. The site is part of a professionally managed industrial association with multiple active cannabis operators, providing operational stability and municipal support. The City of Desert Hot Springs has a strong incentive to keep the operation active due to the ongoing tax revenue generated by the tenant.
This offering presents a compelling opportunity for investors seeking long-term cannabis-backed cash flow with significant tax advantages. The asset is well-suited for accelerated depreciation and cost segregation strategies due to the scale of specialized improvements and equipment. Ownership benefits from a simplified management profile, with the tenant covering the majority of operating expenses and compliance obligations.
Offered below replacement cost and prior peak valuation, this investment provides durable income secured by licensing, infrastructure, and municipal alignment in one of Southern California’s most established cannabis industrial markets.
APN : 663-271-013
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