Property Description
Listing #5069
Asking Price: $2,500,000
This may be the most unique opportunity in the state of California. For those of you who know San Diego, you understand what it means to be in Little Italy, and what being on the corner of Kettner and Laurel means for a retail business. To those unfamiliar to San Diego, this is one of the hearts of downtown San Diego and one of the arteries entering the San Diego City and its Airport.
This is the only license downtown that can be defined as a retail location in any traditional sense, and therefore is the ideal place for a cannabis retail dispensary servicing the whole downtown, Bankers hill, and all the tourism from Balboa Park, Zoo, Midway, Convention center, Little Italy and Harbor and Airport. In addition to the above, the extensive downtown construction—encompassing residential, office, and retail projects—will significantly boost the area’s population. In 2025 alone, this will result in thousands of new apartments, millions of square feet of office space, and hundreds of hotel rooms. All this will continue to add to the already high average income ($116,137).
Asset Summary
- Operational: No pending building permits
- Building Size: 1,513 SF ( 2 floors)
- Licensing: Retail Storefront (Marijuana Outlet) 1/36
- Jurisdiction: San Diego / Downtown / Little Italy
Details
- Pending Building Permits
- 1/36 Licenses in City of San Diego
- 8 Parking + Street and Parking Lot(s)
- Rent (Holding Period) $2,500
- Rent (Construction) $10,000
- Rent (Operational) $20,000
- Seller Financing (Available terms to be discussed)
Location & Neighborhood
- Amazing Demographics with $116,137 average income and 37,000 residents who are mostly consumer age.
- 3,200,000 residents in San Diego County of which 1,388,000 are in San Diego City
- Best location to serve the downtown market
- Targets clients that are local and traveling to work downtown via I-5
- Capture tourist traffic from the San Diego Airport and those going downtown for events, conventions, etc.
Why San Diego?
The city of San Diego has a total of 36 licenses of which most are currently operating as of 2024. Most of these are located in mission valley along the I-8, Miramar, and 94E in Southeast San Diego. As newer dispensaries are opened in those areas, they will inadvertently affect the profits of the neighboring dispensaries. The advantage in San Diego is that the limit is set in stone and the last effort to increase that number for social equity has been paused for fiscal reasons. Additional advantages of this location include its untapped local market, proximity to one of the top areas for tourism recovery in the nation, and an increasing number of locals moving downtown for its walkability and work-friendly lifestyle.
VIDEO: Short Walk to Little Italy and Traffic Example
Miklos Campuzano – WeCann – DRE# 02072292
