Listing ID : 868784
Listed On February 11, 2025 93
Listing Updated February 11, 2025
This is a truly unique opportunity to increase your cannabis cultivation canopy while receiving passive rental income. This property has over 17,000 sq ft. of usable space in two separate warehouses.
Warehouse 1 is located at the front of the site and contains a 6,878-square-foot concrete block industrial building with 400 amps of supplied power and a 14-foot clear ceiling height. The building is leased to a company that is currently making tenant improvements for cannabis cultivation. The company is in the first year of a five-year lease with two five-year options. The company has submitted a CUP to the city of Richmond and will submit city and state license applications in Q1-Q2 2025. When completed, warehouse 1 will have just under 5000 sq ft of flowering canopy and 1000 sq ft of veg. It will have around 140 LED lights split between the two flowering rooms.
Warehouse 2 is at the rear of the site and contains an 8,280 square foot concrete block industrial building with 400 amps of supplied power and a 21’ ceiling clear height. The building is leased and occupied by a tenant who operates a cannabis cultivation, manufacturing, and distribution business. The business has three licenses originally issued in 2018 and 2020 that are current and set to expire in 2025. There is a 2,049-square-foot mezzanine that is not included in the rentable or gross square footage. The building has five separate flowering rooms, each with 30 lights. The total flowering canopy is 3900 sq ft. The Veg area is approximately 1000 sq ft. It also has a receiving area and a nutrients area. The tenant built out a mezzanine level containing an office, a drying room, and a manufacturing, trimming, and packaging area. The tenant is in year 2 of a 5-year lease with two 5-year options. Contact us for more details on this tenant.
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