East Hollywood Silver Lake Pre-ICO Cannabis Recreational & Medical Marijuana Dispensary Business For Sale (LA County) #178New Popular Med., Rec., Pre-ICO, Turn Key
Dispensary / Posted 2 weeks ago / 127 views
This business has been in operation for over 10 years and grossed $8.8M in 2018 and netted over $3M and expects to do conservatively over $11.25M in 2019 just from the storefront not including Delivery, Cultivation and Distribution sales. This dispensary is located on THE busiest street in Hollywood/Silverlake and has a Full-Absentee model currently in place.
Time and time again this dispensary has been voted and coveted as one of the top dispensaries in LA. They have a track record of being a hidden gem and offering unrivaled customer service. There is loads of untapped potential here!
The Cultivation license can be moved off site to allow for full expansion of retail space if desired and is allowed to cultivate up to 5,000 sq ft of specialty indoor.
Market Value for all Licenses (Retail Storefront, Retail Delivery, Cultivation, Manufacturing and Distribution and you have licenses for both Medical and Recreational is going between 5M to 5.5M for just paper with zero revenues.
You will not find a Dispensary for Sale with these current sales and with this potential upside on the Market in all of California.
-Highlights of the Business-
- Here are the licenses that come with the business; Retail Storefront, Retail Delivery, Cultivation, & Distribution.
- Wholesale Inventory- $250,000.00 Comes with the business
- Total Space: 3,800 sqft
- Staff – 27 Employees
- $14,400 a Month Rent (Long Term Lease is Available)
- Business is in the heart of LA on SUNSET BLVD in Hollywood/Silverlake, (Prime Location)
- There is no signage on the middle marketing display or above the Business Door Entrance. The Entire gross sales is mostly coming from the locals not the tourist driving down the Blvd.
- Ton of Parking, 17 spots plus an underground parking garage for staff and an ample amount of street parking that never gets used. Very rare in Los Angeles!
- Full absentee operation, 27 All Girl staff that run the show and do everything from back office operations, to managing all the day to day, employee relations and anything the owner would need to do. Exact quote from the owner was “I feel like I am in the way when I am here, this is a well Oiled Machine”.
- Famous entertainers and models frequent this dispensary and it’s known as a favorite hotspot for celebrities in Los Angeles.
- This business has been operating from the same location with the same 2 owners since 2006. Out of 150 Pre ICO licensed stores there are only 3 Original Owners in the same location since 2006. All of their revenues come from the locals they aren’t capturing the tourist market driving down the road.
- If you want to just buy a 2018 Retail Storefront, Retail Delivery, Cultivation, Manufacturing, & Distribution licenses PAPER ONLY with no location and zero revenues going market price is between $5.2M – $5.5M.
- Closest Dispensary to Dodgers Stadium, 1.7 Miles from Dodgers Stadium with a Billboard around to market to.
- Seller is selling because one of the partners has a irreversible permanent health condition and they decided to sell the entire asset.
Asking Price: $14,500,000.00 FIRM
Must sign an NDA/Waiver and have proof of financials before any other detailed information is released.
Kay Akel, BRE CA# 02061374
If you have any questions call Kays’ assistant (619) 653-0483
Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.