James Capital Advisors is proud to present for sale a 36,000 SF industrial tilt up on 1.8 acres of land. This high-quality 2007 construction is in the Florin Fruitridge Industrial Park and zoned M2 (there is an association, but membership is voluntary). The power has already been upgraded to 4,000 amps 3 phase 480v, and the building features 21 to 24-foot clear height, 20 parking spaces, and exterior security cameras. It holds a Conditional Use Permit (CUP) for cultivation, manufacture type 6 non-volatile (type 7 volatile possible), distribution, and delivery. There is a moratorium for Cannabis Cultivation CUPs in the Florin Fruitridge Industrial Park, but this property has one! In the City of Sacramento, a CUP is approved for the parcel, then once there is a CUP in place, one can apply for a cannabis Business Operating Permit (BOP) which sits in the CUP and serves as your license. BOPs belong to the CUP and cannot be transferred or sold in Sacramento. Once submitted, your building permits take approximately 3-4 months for approval, and you can expect the same turn-time for a BOP. You can apply for both permits simultaneously, and potentially be ready to begin your build-out in about 4 months from submission of plans and BOP applications. Although this information comes from verified sources, you must rely on your own due diligence.
This is a great opportunity for an operator to control their monthly property payments by being their own landlord, or for an investor to buy and lease to achieve a potential double-digit cap rate. Additionally, the Seller is open to carrying a note!
This facility is positioned in southeast Sacramento, proximate to Highway 16, allowing access to Highway 50 and 99 leading to Interstate 5. The City of Sacramento has a progressive ordinance and competitive utility rates.