U.S. cannabis sales in 2021 topped $25 billion and are forecasted to reach $33 billion by the end of 2022. The industry’s rapid expansion has increased demand for buying and leasing cannabis properties.
Finding suitable retail space is an issue many cannabis business owners face. 420 Property has made the search more convenient by listing cannabis real estate and businesses available to buy or rent. This property management company connects you with financial institutions to fund your business and professionals to help you with zoning and making the right investment decisions.
Navigating Zoning Requirements for Cannabis Properties
Zoning laws regulate land uses, enforcing certain restrictions on the property. Although your state’s law permits cannabis sales, a locality has specific zoning requirements.
Each municipality enforces restrictions on properties, such as enabling cannabis businesses to operate only on specific streets, determining how and where the business can be advertised and prohibiting the business from being located within 1,000 feet of a school.
The numerous limitations placed on cannabis business owners make it difficult for them to set up operations. Navigating local zoning requirements and finding the ideal site for your business is best achieved by working with a property management company.
Getting into the Cannabis Industry the Right Way
Setting up a cannabis business is a long-term investment that requires you to choose the best method of acquiring real estate. That helps you budget and increases your chances of success.
Cannabis Real Estate for Sale
Buying cannabis real estate requires you to find a green-zoned property. The ideal way to finance it is with cash. Some banks are allowed to issue loans to cannabis businesses, but they’re accompanied by high fees and interest rates.
Investors can choose from several premium cannabis real estate listings in California, New Jersey, Illinois, Oregon, Washington and Michigan. If those listings aren’t suitable, more are available on 420 Property.
Cannabis Real Estate for Lease
One of the benefits of leasing a property for your cannabis business is that you’re not concerned about the market tanking and decreasing the value of your property. Leasing retail space also requires you to have less upfront capital than buying real estate.
Exiting an unsuccessful venture is more viable if you rent rather than own the property. But a major challenge entrepreneurs in the cannabis industry face is high rent. Fortunately, it’s possible to find affordable cannabis retail space to rent. You can visit 420 Property’s website for a larger selection of real estate to lease.
Cannabis Businesses for Sale
Setting up a cannabis company from scratch and acquiring all the licenses, equipment and establishing a client base can be an arduous and lengthy process. You can circumvent those challenges by buying an existing cannabis business.
Cannabis Investment Opportunities
Instead of setting up a business and being involved in the operations, you can profit from the cannabis industry as an investor and earn passive income.
Cannabis Real Estate Has Massive Growth Potential
Considering that some experts predict the cannabis industry will reach $70 billion in annual sales by 2030, demand for cannabis real estate is rising. You require the assistance of a property management company that will provide guidance about zoning requirements and assist in finding real estate that suits your needs.
You can find cannabis listings, financing, insurance, and cannabis real estate brokers on 420 property