This property has a transferrable LUCS permitting Cannabis and Hemp Processing. Almost 19,000 sf of existing buildings include 2 warehouses, offices, a commercial kitchen, and a heliport licensed for 2 helicopters.
Flexibility is the key here:
OWNER/USER: The property will be delivered 100% vacant at closing.
INVESTOR: The property is selling at 9.0% on actuals. It has 2 tenants, both of whom have short-term leases that desire to extend their leases with the new owners. Based on recent offers we feel that rents could be pushed as much as $10,000/month…bringing the Cap rate to: 10%.