Listing ID : 960509
Listed On June 5, 2026 32
Listing Updated September 1, 2026
Asking Price: $4,500,000
WeCann is excited to present this exclusive listing to purchase a cannabis-leased NNN investment with amazing returns and a rock solid tenant. This multi-tenant property in the heart of San Francisco’s Mission District is leased to Connected Cannabis Co., one of California’s most respected and operationally proven cannabis operators. The in-place cap rate is 13.50% on an asking price of $4,500,000, already exceptional by any market standard, and
rises to 14.89% once the vacant 2,086 SF second floor is leased at standard market rates. The location is protected by San Francisco’s moratorium on new cannabis retail license applications through December 31, 2027, meaning no new licensed competitor can enter the market. San Francisco has also suspended its local cannabis business tax through 2034, directly strengthening the tenant’s operating margins and their capacity to sustain the lease.
Mission Street is one of San Francisco’s most proven commercial corridors, with 65,000+ daily Muni riders passing the property and two BART stations within walking distance. The trade area combines exceptional density, high incomes, and transit-dependent consumers who shop locally every day. This property is available individually or as part of a three-property Connected Cannabis NNN portfolio. If you are looking for a rock solid, income-producing cannabis real estate investment in one of California’s most supply-constrained markets, contact us today.
PROPERTY & LEASE HIGHLIGHTS
- 5232 – 5234 Mission Street, San Francisco, CA 94112
- 4,472 SF total building
- 2,386 SF leased ground floor + 2,086 SF vacant second floor (value-add opportunity)
- Base rent: $50,625/month Base Rent + NNN
- Lease expires March 31, 2034 — 2 x 5-year renewal options
- Rent escalation: +12.5% every 5 years — next escalation April 2029
- Lease expires March 31, 2034 — 2 x 5-year renewal options
- Zero late payments — perfect on-time payment record per seller
- Zoning: NC2, Neighborhood Commercial | Year built: 1924
- Available individually or as part of a 3-property Connected Cannabis NNN portfolio
INVESTMENT RETURNS AT A GLANCE
- Asking price: $4,500,000
- Annual NOI: $607,500
- In-place cap rate: 13.5%
- Pro forma cap rate with 2nd floor leased at $2.50/SF/mo (NNN): 14.89%
- April 2029 escalation (+12.5%): NOI grows to $683,438 — cap rate increases to 15.19%
- Full term through 2039 (Renewal 1): NOI reaches $864,976 — cap rate grows to 19.22%
- Priced above the standard cannabis NNN range (10%+) especially for a Connected-caliber tenant! MOTIVATED SELLER!
- SF cannabis retail license moratorium in effect through December 31, 2027 — no new licensed competition possible
- SF cannabis business tax suspended through 2034 — improves tenant operating margins and lease security
LOCATION & DEMOGRAPHICS
- 1-mile trade area population: 92,800+ residents | 42,200+ households
- Median household income: $141,400 — well above the national median
- Households with income $150K+ have grown 65% since 2000
- 65,000+ daily Muni riders on Mission Street — 2nd highest ridership corridor in San Francisco
- BART Stations: 0.3 miles | Chase Bank: 0.3 miles | Target: 0.6 miles
- Walk Score: 90 — Transit Score: 100.
- 400+ active businesses on the Mission Street corridor
- SF citywide retail vacancy: 6.0% (Q1 2026) — down 80 bps year-over-year
- Zero new construction in the pipeline
Disclaimer:
All information contained herein is provided for general informational and marketing purposes only and is believed to be derived from sources deemed reliable; however, no representation or warranty, express or implied, is made as to the accuracy, completeness, or current applicability of such information. Information presented may include regulatory, licensing, zoning, market, financial, and operational data, all of which are subject to change without notice. Prospective purchasers are solely responsible for conducting their own independent due diligence and are encouraged to verify all information with appropriate governmental authorities and professional advisors prior to making any investment or acquisition decision. This memorandum does not constitute an offer to sell or a solicitation of an offer to buy any security or investment.
Meilad Rafiei – License# 01788589 | Jason Piazza – License# 01405965 – WeCann
Coming Soon: Everything you need to run your business in one place!
Acquire an established, fully licensed adult-use dispensary in a prime Las Vegas location. Seller-provided accrual-basis financials demonstrate consis
16501 OK-37, Hinton, OK 73047Asking Rent: $38,000 / Month30 Acres | 2 MW Power | 96,000 SF Greenhouse Space | Extensive HVAC & DehumidificationRar
🌿 Incredible Opportunity: Central NJ Cannabis Cultivation License + Permit-Ready Real EstateAvailable for Lease, JV, or SaleApproved Annual Class 1
2408 South Broadway, Los Angeles, CA, USA
Turnkey Licensed Cannabis Micro-business Space – Prime Los Angeles LocationSecure, fully compliant opportunity to step directly into the cannabis in
Last lot! 15% discount to a recent sales comparable! 17 Acres Licensed NJ Outdoor Cannabis farm for sale - $2.495M. This will be the first large-
740 Schneider Drive, South Elgin, IL, USA
Court-Ordered Sealed-Bid Auction of Real Estate and all Property Subject to the Lender's Security Interest. Partially Completed, Being Sold as/is C
767 Cedar Gates Loop Road, Chatham, VA, USA
A GREAT 420 PROPERTY IN SOUTH CENTRAL VIRGINIACentrally located near Lynchburg, Roanoke, Blacksburg and Danville, Virginia, this 16.164 acres of rolli
Fully vertical license (open as many cultivation, processing, and dispensing locations as you like, statewide) plus starter facility to provide easy c
6 Rexford Way, Halfmoon, NY, USA
This 7,000 sq. ft. facility is fully leased, licensed, and fully built out — complete with a robust, commercial-grade kitchen and no additional
An exceptional opportunity to acquire one or both Active Adult-Use Cannabis Licenses under a clean, compliant, SEE-certified entity in New York State.
Rare Cannabis Manufacturing & Distribution Facility for SaleType 7 Volatile Manufacturing + Type 11 Distribution | Real Estate IncludedSan Benito
8035 S Mingo Rd, Tulsa, OK 74133, USA
Established in 2021, Elixir Dispensary is a fully operational, turnkey retail cannabis business located at 81st & Mingo in Tulsa, Oklahoma—one o
BizTrader – a Marketplace for All Types of Businesses For Sale
Listings You May Also Like
830 Lakeview Drive, Grenada, MS, USA
Property OverviewCommercially zoned freestanding property for sale in Grenada, Mississippi, offering a unique opportunity for an owner-user, investor,
Moffat, CO, USA
Turnkey Tier 3 Cultivation & Solventless Manufacturing Facility | Southern ColoradoA rare opportunity to own a fully operational, vertically integ
953-955 Hensley Street, Richmond, CA, USA
Property DescriptionWeCann Commercial Real Estate is pleased to exclusively offer 953-955 Hensley Street in Richmond, California, a +/-17,307 SF two-u
40-42 Dodd Street, Bloomfield, NJ, USA
Approximately 2,400 square feet of retail space at 40–42 Dodd Street. The interior has been demoed, offering an open floor plan ready for a custom b