Posted on August 4, 2022 / 5Listing ID: 436097APPLY FOR A REAL ESTATE LOAN
Cannabis & Hemp Insurance
Price : $2,000,000
Status : OFF MARKET
Size : 45000
Lot Size (Acres) : 2.5
Power (AMPS) : 8000
Cannabis or Hemp Use Allowed? : Cannabis
Current Cannabis Business License? : YES
License Type : Medical
City Tax Rate : 1%
Year Built : 2017
Utilities : Water, Electricity, Gas, Sewer
Sale Type : Cash
Company Name : Boardwalk Real Estate Inc
Phone : 3107285483

 

Fully Operational Licensed Cannabis Cultivation Facility – $14,000,000 (Desert Hot Springs, CA)

condition: excellent

 

23k sft Industrial property sitting on 1.26 acres. 532 lights. Fully Licensed and Operational for Cultivation. Asking 300 PSF (6.9M) for the building and 7M for the business. The net profit is approximately 4M for 2022. That’s a 28% Cap Rate for Year 1! The existing team can stay in place if buyer doesn’t want to owner operate.

 

Second Deal:

 

Additionally, there is a larger deal up the street that’s fully operational and licensed for Cultivation, Manufacturing and Distribution.

 

It is 45k sft sitting on 2.52 acres

 

Compromised of two 20k Sft Industrial Buildings plus 5k sft of additional space for processing.

 

Build out includes 704 hps lights and 108 led lights, 180 veg lights. (992 total)

 

Also included in this deal,

 

Vacant lot behind the existing structure that is fully entitled for a two story 64k sft building that a could be developed next door(behind the property). Conditional Use Permit and Plans in place for (64k sft).

 

Closed water loop system on the existing property.

 

The business is Currently Generating

1200 lbs a month. (3 lbs a light)

 

Operational Since 2018

 

Ceiling is 13-14 ft high

 

15m gross profit in 2022. 4M net profit this year.

 

10m Net Profit on 25m Gross Profit the Three prior years in a row (2019,2020,2021).

 

Property Appraisal 2 years ago was for 9.5m (March 3, 2020)

 

Power is 8000 amps at 480v

 

22k sft of existing canopy space.

 

Septic currently on the property but could be connected to sewer line.

 

Proof of Funds and NDA needed for all pertinent financial and licensure information.

 

Listed for 20m.

 

Incredible 20% Cap Rate in Year 1!

 

38 parking spaces

 

Gated lot with full time security.

 

Vacant Lot behind the property is 1.26 acres

 

32k cup stamped plans ready for construction (2 stories = 64k sft).

 

Please let me know if you have anyone that would be interested in either one of these deals. Thank you. I look forward to hearing from you.

 

 

Contact Listing Owner
Cannabis & Hemp Banking
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