Approved Class 5 Retail Cannabis License & Real Estate For Sale
This New Jersey Dispensary is located in Franklin Twp, New Jersey and is currently available for sale. Both the cannabis retail license and the real estate is available for sale. The real estate contains two lots next to each other with a 2,500 sqft building on one of the lots and will require full renovation.
Approval for Somerset Dispensary!
We are thrilled to announce that our Seller has received approval letters from the New Jersey Cannabis Regulatory Commission (CRC) for an upcoming dispensary in Somerset, New Jersey! This is a significant milestone in the journey of marking the first milestone towards bringing premium cannabis products and exceptional service to the Somerset community.
As per New Jersey regulations, the Buyer must complete the physical construction of the store and obtain a Certificate of Occupancy from the local municipality before receiving final approval for the license. Once the construction is completed and the License is issued, the Change of Ownership will be complete
Here's what's next:
License: $1.7MM
Deal Repayment Summary:
- Down payment: $300,000.00 (17.65%)
- Total Monthly Payment: $29,745.86 (5-year payment plan)
- Approx Loan pay-off date: June 2029
- Total Interest Paid: $384,751.76
- Annual Payment Amount: $356,950.35
- Total of 60 Payments: $1,784,751.76
Real Estate:
- $1.7MM Sales Price to be purchased (lease option unavailable)
- Must lease it back to entity during construction
- Buyer operates under a management agreement of license holder
- Renovation is Buyer's responsibility
**CLIENT WILL NOT SELL THE REAL ESTATE ON ITS OWN TO OTHER NEW JERSEY LICENSE HOLDERS**
Features
- License Tier 5 retail recreational license for cannabis - Two Lots: - Lot #1: Includes a 2,200 sq/ft building requiring full renovation - Lot #2: Spacious empty lot with the option to build on it - Architectural Plans: - All designs and layout plans for the renovation and potential development have been submitted to the locally
- Current owner is working on building plans and municipal permits are submitted and now that the license has been approved, Buyer must complete . Renovation Estimation: Approximately $250,000*