Marijuana Rec & Med Retail Store & Grow Operation, High Traffic Area

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One of the Highest Per-Capita Sales of Cannabis in the State! Busy and Growing!
Asking Price:
$1,400,000

Gross Revenue:
$2,000,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$100,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$1,500,000
not included in asking price

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Business Description

The best high traffic Recreational & Medical dispensary and grow facility in a well-known and growing town. The business consistently has over 2M in gross revenues per year. The company’s top and bottom lines are growing.

The building has a turn-key cash-flow positive retail store, an indoor grow operation that has room to build out an additional 18,000 plus square feet with the capacity to accommodate a tier 2 & 3 grow operation, and for many reasons it has a very valuable license. Plus, growers can buy the building and grow much more economically than in the Denver Metro area. The market conditions in this location are extremely favorable and boasts one of the highest per-capita sales of cannabis in the state.

They opened their recreational & medical store and grow operations in late 2014. They also sell a wide selection of medical and recreational products from the largest brands in Colorado, which include concentrates, oils, vape pens, edibles, topicals and a full line of accessories. They have a tier 1 grow license.

The price for the retail operation is 1.4M plus inventory which is approximately 100K. The building is being offered at 1.5M and the seller will not sell one without the other being sold also.

This business has many long-standing customers and referral relationships which means Recurring Revenue which always supports a higher multiple. This business will not change after the sale based on their reputation and location. They maintain very high ratings in both Weedmaps and Google with very positive comments.

The owner is of retirement age and is selling due to retiring.

The owner states that “they believe growers can grow more economically in their location than in the Denver Metro area because of the much lower cost per square foot in building, lower cost and availability of employees, and buildout cost. The building is perfectly suited for a large in-door grow operation which could significantly lower growers costs.” Buildings of their size in the Denver Metroplex cost over 5M compared to their 1.5M, employees are 2/hour more expensive in Denver than in their market, and employees are easier to find from a lack of other options. They already have the skilled employees to manage a larger operation.

A buyer must get pre-qualified from the State of Colorado which must be completed before the owner will consider entertaining any offers or allowing complete access to the details of this business. The owners believe their license will transfer to a pre-qualified buyer as smoothly as the law allows. They believe there will be no issues in the transition as long as the buyer completes all licensing requirements and follows all regulations.

This business is 5 years old and have a solid name and the finest reputation for fair dealings. They are in good standing with the City, County, State and MED. They have a great record for safety (OSHA) and no legal battles. They run a sustainable green operation where all water, soil, and plant materials are captured and recycled.

Building(s): The retail store is approximately 1,500 square feet on street level with an opportunity to add an additional 1,500 square feet of unoccupied space. The indoor grow operations consist of 20,000 plus square feet which is designated for recreational and medical growing, or other potential process operations. The initial phase 1 grow operations includes 4,100 square feet is being used for their tier 1 recreational & medical growing operations. The location has a great floor plan, very functional, efficient, in good shape, and is up to all commercial codes. The tier 2 plan has a fully enclosable area approximately 5,600 square feet that with the ability to allow for 2 floors of tier 2 growing totaling 11,200 square feet. In addition, there are plans for tier 3 which includes an additional 5,000 square feet grow area, enclose

About the Business

Location:
Elbert, Colorado
Year Established:
2014
Real Estate:
Owned
Facilities:
Building(s): The retail store is approximately 1,500 square feet on street level with an opportunity to add an additional 1,500 square feet of unoccupied space. The indoor grow operations consist of 20,000 plus square feet which is designated for recreational and medical growing, or other potential process operations. The initial phase 1 grow operations includes 4,100 square feet is being used for their tier 1 recreational & medical growing operations. The location has a great floor plan, very functional, efficient, in good shape, and is up to all commercial codes. The tier 2 plan has a fully enclosable area approximately 5,600 square feet that with the ability to allow for 2 floors of tier 2 growing totaling 11,200 square feet. In addition, there are plans for tier 3 which includes an additional 5,000 square feet grow area, enclosed genetics area, sustainable process area, and enclosed garage for secure transport. Plus, the HVAC, and the electrical has been upgraded including new transformers. lighting upgraded or added new, and the grow equipment have all been replaced or added in recent years. The building and entire operation has security cameras and fully compliant with city, state and MED. The property has plenty of parking, including designated handicap spaces and is ADA compliant.
Market Outlook/
Competition:
The best high traffic Recreational & Medical dispensary and grow facility in a well-known and growing town. The business consistently has over 2M in gross revenues per year. The company’s top and bottom lines are growing.
Growth & Expansion:
The building has a turn-key cash-flow positive retail store, an indoor grow operation that has room to build out an additional 18,000 plus square feet with the capacity to accommodate a tier 2 & 3 grow operation, and for many reasons it has a very valuable license. Plus, growers can buy the building and grow much more economically than in the Denver Metro area. The market conditions in this location are extremely favorable and boasts one of the highest per-capita sales of cannabis in the state.
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About the Sale

Reason For Selling:
The owners are retiring
Training/Support:
A buyer must get pre-qualified from the State of Colorado which must be completed before the owner will consider entertaining any offers or allowing complete access to the details of this business. The owners believe their license will transfer to a pre-qualified buyer as smoothly as the law allows. They believe there will be no issues in the transition as long as the buyer completes all licensing requirements and follows all regulations.
Seller Financing:
10%

Listing Info

ID:
1623181
Ad Detail Views:
0

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Business Listed by

Jeff Chapman Eisnaugle

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