Asking Price: $3,100,000 Purchase Price (Real Estate & License)
This property and license sale is for a Retail Medical License with Delivery issued by the City of Vista. Full Adult Use/Recreational Licenses anticipated in 2021. Operational by Q1 2021. Very low competition market and its central location gives the operator ability to service all of North San Diego, Inland Empire areas, and South OC Markets. We expect the citizens to approve full Recreational Cannabis sales within a few years. Seller prefers cash only transaction, but will consider possible financing of Real Estate with creative lease options for qualified buyers.
- Cannabis Use: Medical Retail and Delivery
- Licensed: Yes
- CUP: Yes
- Change of Ownership: Approximately 5 months County & State. Current licensees will stay on the licenses until removal is approved by the attorneys and will not disrupt the operation or approval process.
- Zoning: R1 – Green Zone / Mixed Use
- Size: Over 1 AC
- Building Sqft: Over 2,500 s.f.
- Building Stories: 1
- Air Conditioning: Forced Air
- Construction: Wood Frame, $600,000 est. to complete site and Tenant Improvement (TI) work.
- Parking: 13 spaces + ADA
- Location: Located on a major corridor for the City of Vista.
- City Tax Rate: Medical Retail (including delivery): 7% of gross receipts, established by the passing of Measure Z, which implemented VMC Chapter 5.94
- Year Built: 1978
Terms of Purchase
- Type: Real Estate and License
- Asking Price: $3,100,000 Purchase Price (Real Estate & License)
- Real Estate only value: $900,000
- License Only Value: $2,200,000
- Lease Rate: Negotiable Sale-Leaseback on Real Estate portion for qualified buyers.
- Real Estate and License
Ryan Clancy – Cannabis Real Estate Consultants – DRE#1817582
- ID: 6651
- Published: May 28, 2020
- Last Update: November 19, 2020
- Views: 632