Property Description

Listing 4899

Asking Price: $1,495,000

This is a pre-operational, tier 2, social equity cultivation business license situated in the heart of Paterson. Approved by the city, this 30k SF property provides the ideal canvas for your vision. The shell condition allows you to design your layout with the preliminary floor plans provided, ensuring seamless customization.

Business Highlights

• 1600 Amps of power with potential for expansion (verification required)
• Lease below market value: $30K/month, increasing to $41K/month on 2/1/24, with a competitive $16/SF annual NNN rate. Lease includes purchase option for the building.
• 5-year term with 3 extensions and a 3% annual rental increase
• Social equity license ensures priority for delivery or manufacturing permits, leveraging exclusive advantages in Paterson’s restricted market
• Paterson’s status as the 3rd largest city in Jersey ensures a substantial customer base
• Paterson’s moratorium on new licenses provides scarcity

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Ryan Dowse, Associate Agent, WeCann License# 02074994