Posted on February 17, 2022 / 129Listing ID: 349669APPLY FOR A BUSINESS LOAN
Cannabis & Hemp Insurance
Price : $7,500,000
Status : ACTIVE
Size : 16,667 sq. ft.
Lot Size (Acres) : 1.69 acres
APN : 060-546-003
Cannabis or Hemp Use Allowed? : Cannabis
City Tax Rate : 2% for Distribution
Utilities : Water, Electricity, Gas, Sewer, Natural Gas, Trash
Sale Type : Cash
Company Name : El Dorado Group
Phone : 559-303-8461

This turnkey project is located in Grover Beach, California, one of the most cannabis friendly municipalities in the state.  The project is pre-entitled with all permits near completion with the City of Grover Beach to operate a commercial cannabis manufacturing, processing and distribution facility.  The existing building easily accommodates a pre-approved processing operation for drying, curing and trimming to service the substantial acreage of cannabis cultivated here on the Central Coast. There is also space for large-scale automated packaging solutions with ample storage. An added bonus is the option to expand the building’s footprint to double in size with quick permitting turnaround.

● 13,325 SF of commercial cannabis manufacturing, processing and packaging*

● 1,455 SF of commercial cannabis distribution uses*

● 1,820 SF of office and ancillary uses in support of the commercial cannabis operation*

● Approved HVAC/Odor mitigation plan with equipment included in the purchase price**

● Approved Security plan with equipment included in purchase price**

● Interior demo completed to support submitted building plans

● Vacant area on premises ideal for delivery access (semis approved) and overflow parking

● Completed lot merger for total of 73K+ SF making this parcel ideal for expansion to double the existing footprint

*Project description and SF allocations for all licenses can be updated to accommodate any requested changes, which may require license application amendments resulting in additional time for final approval.

**Equipment requires installation

Conditions of Approval & Allowances

● Up to two roll up doors on the south building elevation to allow for secure deliveries and optimal odor control

● Pervious material along driveway for truck delivery ingress and egress

● Frontage improvements including sidewalk, landscaping and evergreen trees to screen the delivery area from public view

● New 7-foot masonry and composite wall along Huston and fencing on South side for security and screening along with 2 electronic access gates

LOCAL Land Use Entitlement

● Approved by City of Grover Beach in July 2021 for Processing, Manufacturing (all types) and Distribution

● Valid for 2 years from date of approval (good till June of 2023)

● Building Plans submitted to Planning Department and in final review

STATE Processing (CDFA), Manufacturing Type 6 (CDPH) and Distribution Type 11 (DCC)

● Applications submitted in September 2021 and all are in final review

Grover Beach, California

Effective January 1, 2022, Grover Beach has one of the most competitive cannabis tax rates in California:

– DISTRIBUTION: 2%, further reduced to 1% for businesses w/ $10M+ in Annual Revenues

– MANUFACTURING: 3%, further reduced to 2% for businesses w/ $10M+ in Annual Revenues

– TESTING LAB: 1%

Compared to other markets in CA that average a 7.5% tax rate on all cannabis uses, Grover Beach is perfectly situated to benefit operators. The project is located in the cannabis friendly “Green Zone” where multiple cannabis businesses are operating successfully including 4 retail locations.

The City of Grover Beach is a great partner and is motivated to get this project operational. Our team will provide a seamless handoff to continue momentum towards project completion.

Grover Beach is also in close proximity to the largest concentration of permitted cultivation sites in the state (Santa Barbara County), making it an ideal location for a cannabis processing and distribution center.  Grover Beach is centrally located between the two largest cannabis retail markets in California. Los Angeles and the Bay area are easily accessible by Highway 101 and Interstate 5.

For additional information, please contact:

Kevin Hix

559.303.8461

khix@eldorado.group

Chad Kikta

510.292.9850

kikta@eldorado.group

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