- Updated On:
- September 4, 2021
Great opportunity for a California leading, vertically-integrated Cannabis Business that could make a great addition to any Multi State Operator’s Southern California footprint! The fully vertical cannabis business is located right at the heart of one of the most dynamic neighborhoods of the LA region and destination point for Los Angeles’s 50 million annual visitors.
Revenues: With a business asking price of $27.5M. Property is set at a firm and set price at $4.6M, (worth $5.5M-$6M) with an existing Mortgage of $2M for 10 years with about 8 years left at an annual rate of 6% interest only. It’s assumable with No prepaid Penalty.
- Q1 – Q3, On Pace to finish 2020 at $21.4M in Gross sales and an EBITDA of $6,150,000.00. Approximate
- Retail Sales: $3.6M, Cultivation Sales: $5.2M, Manufacturing Sales: $7.6M, all sales are verifiable and these numbers are only from January – September 2020.
- Seller currently does very little marketing, FTP specials can be majorly improved.
- Business just started their delivery service as of December 1st 2020, with only a 5 mile radius! By maximizing the delivery business and increasing the delivery radius, new owner could see a major increase in revenues.
- They are also not maximizing the Cities allowed hours operation by 4 hours a day they could be open.
- Estimated value of the Property $5.5M -$6M.
Details & Assets:
- Space: 23,500 SqFt Approximate
- Wholesale Inventory: $200k
- Equipment & Fixtures Estimated Value: $3.5M Approximate
- Employees: 60
- Cultivation: 10k SqFt Canopy Size
- Power: 2500 Amps 480V
- Training Period: 90 Days Provided By Seller
- Start of Art of Cultivation on Auto Pilot, Amazing Automation
- Real Estate could be purchased for $4.6M, worth $5.5M-$6M
- Retail Storefront- Facility where cannabis, cannabis products, or devices for the use of cannabis or cannabis products are offered, either individually or in any combination, for retail sale, including an establishment that delivers, pursuant to express authorization by local ordinance, cannabis and medical cannabis products as part of a retail sale.
- Non-Storefront Retail Delivery: Off-Premises Sales, Direct-To-Consumer
- Cultivation- 10,000 SqFt Canopy Size
- Manufacturing Type 6: For manufacturing sites that produce cannabis products using nonvolatile solvents or mechanical methods (ex: CO2, ethanol, water, or food-grade dry ice, cooking oils or butter). Manufacturing of Edibles, Vape Pens, Pre-rolled joints, Packaging flower, Tinctures, Drinks (all manufactured cannabis products).
- Distribution- Distribution of cannabis and cannabis products from manufacturer to dispensary. A Type 11 licensee shall hold a Type 12, or transporter, license and register each location where product is stored for the purposes of distribution.
Asking Price: $27,500,000.00 (Seller Financing Available, $22.5M DOWN MINIMUM, Property Could be Purchased for $4.6M)