Cannabis Property for Sale

Industrial for Sale
Catylist Listing ID: 30210460
Property Subtypes: Manufacturing, Light Industrial, Warehouse/Distribution
Building Size (RSF): 4,200 SF
Gross Building Area: See Agent
Gross Land Area: 2.08 Acres
Sale Price: $1,400,000
Unit Price: $333.33 PSF
Ceiling: 12 ft. Clear
Docks/Doors: 1 Door
Property Use Type: Investment
Building Name: Cannabis project
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 6/21/2018

Overview / Comments

2,400 SF Building with some land available for Cannabis use
including Cultivation, Manufacturing and Distribution. The balance of the property
is a leased investment. The tenant has an approved CUP for development of a
60,000 SF facility on the 2+ acres of land. The current lease is an initial term of 5
years with 3-five year extensions. It is a seasoned lease and has been in place for 2 years. Tenant is now ready to start construction on his project. The net income is
$73,080 currently with 3% annual increases. 6% Cap rate.

Attachments & Media

Additional Details

Nearest MSA: Riverside-San Bernardino-Ontario
County: Riverside
Taxing Authority: Riverside County
Tax ID/APN: 663-280-001
Zoning: IL
Property Located Between: Two Bunch Palms and Kranshire
Highway Access: 10 Freeway
Airports: Palm Springs International
Area Description: Desert Hot Springs Cannabis Industrial zone.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Average
Year Built: 1988
Parking Type: Surface
Parking Description: On site
Total Parking Spaces: 10
Amps: 200
In Flood Plain?: Yes

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,436 36,615 43,564
Median Age: 31.64 33.81 33.98
Households: 2,017 12,376 14,789
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