10030 W 27th Ave, Wheat Ridge, CO, 80215

Highlights

• One of only five dispensary licenses in Wheat Ridge
• Grandfathered MMJ sales adjacent to the park
• High Traffic Counts on Kipling and High Surrounding Demographics
• Fenced Storage in Rear & Ample Parking
• New Roof in 2019

Description

Rare opportunity to acquire a stabilized, pride-of-ownership commercial asset in Wheat Ridge, Colorado. This 4,795 SF freestanding building sits on a 24,829 SF lot and is zoned C-1, featuring one of only five dispensary licenses in the city. The property benefits from a grandfathered zoning allowance permitting MMJ sales adjacent to a public park—a use that is no longer easily replicated. The tenant, Trees (treescann.com), a publicly traded multi-state cannabis company, has signed a new 5-year NNN lease at $21.52/SF ($8,600/month + NNN) with 3% annual increases and two 5-year renewal options. Landlord responsibilities are limited to the roof and foundation, with the roof replaced in 2019. While the tenant currently purchases its product from wholesalers, the building contains space suitable for small-scale cultivation, which the tenant plans to utilize for R&D and additional storage. There is also a fenced outdoor storage area at the rear of the property, further enhancing functionality and flexibility for the tenant.

Wheat Ridge

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