Property Description
Listing #5030
Asking Price: $1,500,000
WeCann is pleased to offer an exceptional opportunity to acquire a pre-operational Class 5 Retailer license, complete with an approved local resolution from the township of Irvington, NJ. This license is associated with a strategically located 3,700 SF property, featuring a favorable lease arrangement. The site benefits from high visibility with frontage on a major thoroughfare, immediate access to the Garden State Freeway, and proximity to a significant transportation hub. The property is surrounded by a mix of national retailers and local businesses, making it an ideal location for a dispensary. The Seller is currently progressing through the CUP process and will collaborate with the Buyer to finalize all local and state licensing requirements.
Investment Highlights:
- Limited Competition: One of only four licenses approved in Irvington, NJ
- Approvals: Local Resolution and Conditional Approval already secured
- Prime Location:
- Directly across from the Irvington Bus Terminal
- Frontage on Springfield Ave with approximately 17,000 daily vehicle traffic
- Adjacent to the Garden State Freeway with a daily traffic count of 198,000
- Property Size: 3,700 SF
- Monthly Rent:
- $2,000 Holding Period Rent – Current rental rate
- $7,000 Base Rent upon property possession ($22.83 per SF annually)
- Licensing Purchase Price: $1,500,000
- Seller financing available
Meilad Rafiei – License# 01788589 – WeCann
