Property Description
Listing #5041
Asking Price: $2,495,000
Discover a prime opportunity to purchase an operational dispensary located at an exceptional property located near Riverside, CA, under the jurisdiction of Riverside County. The site features approximately 5,400 SF of well-designed space split between two buildings: the smaller of the two buildings is dedicated to employee and managerial functions, while the larger building houses the retail store, vault room, and daily operations. Enjoy a favorable lease that is about 2.5 years in to the initial 5 year term, with options to extend for two additional 5-year periods, all at a competitive monthly rate of $1.54 per SF.
With over 20 parking spaces, excellent visibility, and high traffic exposure, this location offers unmatched convenience and accessibility. Positioned near complementary retail businesses and residential areas, just outside the City of Riverside with a population of over 320,000, the property benefits from a strong market presence. The dispensary has been successfully operating here for 3 years, projecting a gross income of $4,200,000 for 2024, with significant upside potential in revenue through not only the storefront, but expanded delivery services. Don’t miss this prime investment opportunity that is already profitable, and provides growth potential.
- Property Details:
- Bldg 1: 1,500 SF used as an employee break room and for the manager’s office.
- Bldg 2: 3,900 SF where the retail store, vault room, and primary operations exist.
- Total Rentable Area: 5,400 SF
- Lease Term:
- Initial term: 5 Years – Ends March 2027
- Options to Extend: 2 x 5 year
- Monthly Lease Rate: $8,300 – $1.54 per SF
- Great Parking: Over 20 parking spaces
- Prime Retail Location:
- Near 215 Freeway Off Ramp: 165,000 Daily Car Count
- Street Frontage off Busy Intersection: 12,000 Daily Car Count
- Surrounded by Complimentary Retail Businesses and Residential
- Located Just Outside the City of Riverside – Population Over 320,000
- The Business has Been Operating at This Location for About 3 Years
- Financial Performance:
- 2024 Projected Gross Income w/o Excise or Sale Tax: $4,200,000
- Delivery: Making Only 10 Orders Daily – Upside in Revenue Opportunity
- Business Asking Price: $2,495,000
Meilad Rafiei – License# 01788589 – WeCann
