Business Description
Owner has Local & State Approvals for a Fully Operational Cannabis Cultivation and Manufacturing business in the highly desired state of Rhode Island. This is a hybrid Cannabis Cultivation license that allows for a manufacturing business that is currently generating revenue. Although the property is suitable for Manufacturing, solvents cannot be used for extractions. The business is currently operating under a multi-phase expansion plan, which meets the 5,000 SqFt “Class A” license cap. The property stands on a 7,400 SqFt facility, which the owner has put in $600k on the buildouts alone. The company has been operational since 2020 and has excellent freeway access in and out. The facility includes double canopy space, 450 SqFt in Mezzanine, 2,400 SqFt of open space ready for expansion, and 64 flower lights. The current owner has a great long-term lease in place with multiple 3YR options and a monthly rent of $10k/Month. This is a great opportunity for someone who is looking to expand their footprint in the Rhode Island Cannabis Market, while also taking advantage of the very nearby major markets, a multi-state operator or someone who is looking to enter the industry into a full turnkey business.
Details:
- Space: 7,400 SqFt (Total)
- Double Canopy size
- 4,800 SqFt Single Tier Built out
- 450 SqFy Mezzanine
- 2,400 SqFt of open space ready for expansion
- Rent: $10k/Month
- Lease: Long Term lease with multiple 3 YR Options
- Established: 2020
- License Type: Hybrid Cultivation, Manufacturing
- Class A License (5,000 Sq Ft)
- Cannot use solvents for extractions
- Buildout: $600k
- Approx $90K to run the facility
- 64 Lights in flower
- Gross Revenues 2022: $500-$600K
- Gross Revenues 2023: $900k Sales, $720k Expenses
- The ability for ease of expansion!
- Owner can do the design and building of the expansion for the new owner!
- Employees: 10
- Head grower, Facility Manager, Founder, Trimmers/Packagers/Misc labor
- List of Assets:
- Lease
- License
- Existing Equipment
- Rhode Island went rec in December of 2022
Licenses:
- Class A Medical Cannabis Cultivator (Includes Manufacturing): Class A cultivator licensees may not possess more than two hundred and fifty (250) mature marijuana plants and two hundred and fifty (250) seedlings which must be properly tagged and tracked in accordance with acceptable alternative tagging and tracking under Section 1.7(D). The size of the facility may not exceed 5,000 sq. ft. of “plant touching” floor area
Asking Price: $1,500,000.00
Must sign an NDA/Waiver and have proof of financials before any other detailed information is released. This listing is Fully Exclusive only by Green Life Business Group, Inc.
Jeff Similien, RI License #REBL0018839
Green Life Business Group, Inc DRE CA LIC# 02061374
Elliot Cardenas, DRE LIC CA# 02138336
If you have any questions Call Elliot at (619) 770-2699
Or Email : elliot@glbgroupinc.com
Green Life Business Group Inc. we are here to both help you sell or buy a cannabis business opportunity.
National Affiliate Listings
All listings included in this section are represented by locally licensed real estate brokers where necessary.This listing is represented by (Local Broker) via the Green Life Business Group National Affiliate Program.
Business Details
- Price: $1,500,000
- Business Type: Cultivation, Manufacturing Type 6 NON Volatile, Seller Financing Available
- Business Status: For Sale
- Location: Rhode Island
- Gross Revenue: $900,000.00
- Capital Invested: $600,000.00
