Lease Rate: $2.46 / SF / Month + NNN or $32,000 / Month + NNN
Asking Price: $1,245,000
Right To Apply (1 of 6 in the City of Commerce)
One of the most affordable microbusiness with delivery which can add full sized medium indoor cultivation in Los Angeles County with a good tax rate. Strategic location 3 Minutes to the I-5. 6 Miles from Downtown Los Angeles. 12 Miles to Hollywood. 21 Miles from LAX. 30 Miles to Orange County.
Applications in the Commerce City are closed unless you have a previous development agreement.
Full Due Diligence Package Available (Previous Development Agreement, Incorporation Documents, Business Plan, Staff Report).
This entity holds a development agreement under City of Commerce regulations, and must apply for a change of ownership and location. The city is requiring a resubmittal of the application, of which the process takes 60 days. Confirmation of the process will be presented to the interested buyer, and escrow will only close at delivery of the license/CUP on the new location.
Delivery, Manufacturing Type 7, Volatile, Distribution, and Cultivation which can be added to the Development Agreement once fee is paid(Uses can be combined into a Microbusiness or omitted).
Multiple properties available in the city to use for re-application, varying sizes which can be discussed after the NDA’s are signed. CREC team will help identify locations, regulatory maps are available for $2,500 for full market analysis of viable real estate.
Property must be leased or in escrow to be able to move forward with the CUP on the property, the buyer must take on the risk of soliciting the property.
- 3% (Manufacturing & Distribution)
- 5% (Non Store Front Retail – Delivery)
- Annual City Fees $32,000, $42,000
Terms of Purchase
- $1,245,000Purchase Price
- $100,000 Deposit (refundable)
- Submit development agreement amendment for change of ownership to buyers entity, change of address to buyers property, and and other changes to the license types.
- 75 day escrow (local license approval as contingency)
- Only when City council approves these changes and conducts their 2nd reading of approval, then escrow would close.
Proof of funds, and NDA required for due diligence package.
Miklos Campuzano – Cannabis Real Estate Consultants – DRE# 02072292
- ID: 7939
- Published: June 22, 2021
- Last Update: June 29, 2021
- Views: 206