80 acres of green zone land, including a 37,350 sq ft mixed light operating Greenhouse, with eight flower rooms and one veg room. There is 22,000 sq ft of flower canopy and 560 HPS lights with an estimated annual production of 9,000 pounds of flower. Gross revenue for the operating greenhouse is projected at $6.3 million based on current flower prices and net revenue is expected to exceed 50% of gross revenue. Another 37,350 sq ft Greenhouse is under construction and expected to be operational in December 2022. There are an additional 30 CUPs for Greenhouses on the 80 acre parcel, although temporary hoop houses are being used prior to build-out and the number of hoop houses can be increased. Currently, 53 temporary hoop houses generate 9,600 pounds of flower with gross annual revenue run rate of $3.5 million and net revenue exceeding 50% of gross revenue. The local cannabis tax rate is $5 per sq ft of canopy for Greenhouse grow. The facility is about an hour and a half from Downtown Los Angeles. Seller Financing available for part of the purchase price, with a secured note that amortizes monthly. Seller has a low cost of operation and can price competitively in the current soft market environment. NDA and POF required.
