Listing ID : 831607
Listed On August 22, 2024 172
Listing Updated October 28, 2024
WeCann is pleased to offer an exceptional opportunity to acquire a pre-operational Class 5 Retailer license, complete with an approved local resolution from the township of Irvington, NJ. This license is associated with a strategically located 3,700 SF property, featuring a favorable lease arrangement. The site benefits from high visibility with frontage on a major thoroughfare, immediate access to the Garden State Freeway, and proximity to a significant transportation hub. The property is surrounded by a mix of national retailers and local businesses, making it an ideal location for a dispensary. The Seller is currently progressing through the CUP process and will collaborate with the Buyer to finalize all local and state licensing requirements.
Investment Highlights:
Limited Competition: One of only four licenses approved in Irvington, NJ
Approvals: Local Resolution and Conditional Approval already secured
Prime Location:
Directly across from the Irvington Bus Terminal
Frontage on Springfield Ave with approximately 17,000 daily vehicle traffic
Adjacent to the Garden State Freeway with a daily traffic count of 198,000
Property Size: 3,700 SF
Monthly Rent:
$2,000 Holding Period Rent – Current rental rate
$7,000 Base Rent upon property possession ($22.83 per SF annually)
Licensing Purchase Price: $2,450,000
Seller financing available
26.9 Acres Divisible into 12 Acres and 14.9 Acres – Available Together or Separately Explore the potential of this expansive 26.9-acre property,
Attachments
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Cannabis & Hemp Banking
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