Property Description
Listing #5070
Asking Price: $795,000
Don’t miss this rare opportunity to acquire a Conditionally Approved Type 5 Retail License, with a Local Resolution in the thriving city of Elizabeth. This license is tied to a C-3 zoned property that is excellent for a cannabis dispensary. Situated on a major retail thoroughfare in a densely populated area, this property is away from the four operational dispensaries in the city, providing a strategic advantage. Elizabeth is the fifth-largest city in New Jersey, boasting a population of 135,000 and a median age of 35, making it a prime market for cannabis retail. With a moratorium currently in place on new licensing applications, this is one of the few remaining opportunities to enter this competitive market. The seller is highly motivated, offering favorable lease terms and a well-positioned property to launch your business.
What is for Sale:
- New Jersey Conditionally Approved Type 5 Retail License for sale
- Local resolution of support in place from Elizabeth, NJ
Key Selling Points:
- Prime location tied to the license
- Strategic market entry opportunity in a city with limited licenses available
- Fifth-largest city in New Jersey
- City has approved six retail resolutions, four are operational
- Current moratorium on new licensing applications
Property:
- 3,300 SF Unit
- Main sales floor: Approximately 1,500 SF
- Includes Rooftop and Basement
- Located on a major retail thoroughfare in a densely populated area
- Away from the 4 operational dispensaries in Elizabeth
- Lease
- 10-Year Initial Term
- Rent:
- Years 1-5: $9,166.66 Monthly ($2.77 per SF)
- Years 6-10: 3% Annual Increases
- Asking Price: $795,000
Meilad Rafiei – License# 01788589 – WeCann
