67575 Canyon Plaza Dr. - LoopNet...Tenant: Desert Horizon Consulting, LLC. Use: Fully improved, licensed and operating cannabis cultivation campus Term: 20-years from C.O.E. Security

NNN LEASED INVESTMENT

67575 Canyon Plaza Dr.CATHEDRAL CITY, CA 6,950,000.00

MICHAEL C. MEADEFOUNDERCALBRE# [email protected]

ANTHONY CARONNAASSOCIATECALBRE# [email protected] O: 760.837.1880 72100 Magnesia Falls Drive, Ste 2 Rancho Mirage, CA

AVAILABLE FOR SALE

Information has been secured from sources we believe to be reliable, however, WILSON MEADE cannot guarantee its accuracy.

• The subject property is a class “A” cannabis cultivation facility

totaling 21,687 square feet of NRA located on a 6.61 acre parcel.

• Two buildings are located on the site.

• Front, main building totals +/-14,238 square feet and is fully licensed and operating as a cannabis cultivation, with 224 flowering lights, vegetation area, clone room, men’s and women’s restrooms security room, water room and lobby.

• Second building is located in the rear of the property and consist of +/-7,449 square feet and is used as dry, curing and storage of finished product, as well as office space for management.

PROPERTY DETAILS





AVAILABLE FOR SALE






AVAILABLE FOR SALE

Subject property is fully leased by an experienced group of operators whom have operational experience in regulated cannabis states of California and Colorado. Currently under contract for 350,000 additional square feet of cultivation, manufacturing and distribution in Coachella, California as well as 5,000 square foot dispensary / lounge facility in Palm Springs, California. Subject site shall showcase a central valley, show piece for the company.

Tenant: Desert Horizon Consulting, LLC.

Use: Fully improved, licensed and operating cannabis

cultivation campus

Term: 20-years from C.O.E.

Security Deposit: Equal to Three (3) months’ rent

Lease Type: Absolute NNN

Escalation: 2.5% annually

Options: Two (2), Ten (10) year options to extend at a

continuance of annual escalation.

TENANT SUMMARY:Lessee invested upwards of $3,000,000 into the subject property,including but not limited to, the following:

• 190 tons of HVAC

• All new electrical

• Upgraded Edison 3,000 amp panel at 277

• All new flooring, restrooms, security room, breakroom,

office/safe room.

• 255 flowing lights, veg area, clone room.

• Two state of the art dry and curing rooms, additional restrooms.

• All new landscaping, sidewalks and parking lot schedule to be

installed by year-end.

CAP Rate: 11.6%NOI: $809,358.84

TENANT IMPROVEMENTS:


E. PALM CANYON DR.

CANYON PLAZA DR.

SITE





AVAILABLE FOR SALE


65575 CANYON PLAZA DRIVE, CATHEDRAL CITY, CAProperty Sq. Ft.:Purchase Price:Leasing Commission:

21,687 sq. ft. $320.47 sq.ft.

$0.00 sq. ft.$6,950,000.00

$0.00

Total: $320.47 sq.ft. $6,950,000.00Total Cost: $6,950,000.00Total Cost/sq.ft: $320.47Loan Amount: $0.00

RENTAL RATESPROJECT SIZE RENT PSF MONTHLY ANNUAL

Fully Leased - NNN 21,687 $3.11 $67,446.57 $809,358.84

$0.00 $0.00 $0.00

Total: $0.00 $809,358.84

Expenses: $0.30 $0.00

NNN Contribution: $0.30 $6,950,000.00

Net Operating Inc: $67,446.57 $809,358.84

Loan Expense: 10% interest-only

Net Income (Fully Leased): $67,446.57 $809,358.84

PROFORMAYEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9

Fully Leased - NNN $809,358.84 $829,592.81 $850,332.63 $871,590.95 $893,380.72 $915,715.24 $938,608.12 $962,073.32 $986,125.16

- - - - - - - - -

Total: $809,358.84 $829,592.81 $850,332.63 $871,590.95 $893,380.72 $915,715.24 $938,608.12 $962,073.32 $986,125.16Vacancy Rate: 0% 0% 0% 0% 0% 0% 0% 0% 0%

NOI $809,358.84 $829,592.81 $850,332.63 $871,590.95 $893,380.72 $915,715.24 $938,608.12 $962,073.32 $986,125.16

Loan Expense: - - - - - - - - -

Interest Rate: 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Net Income $809,358.84 $829,592.81 $850,332.63 $871,590.95 ($146,619.28) $915,715.24 $938,608.12 $962,073.32 $986,125.16

Cap Rate: 11.6% 11.94% 12.24% 12.54% 12.85% 13.18% 13.51% 13.84% 14.19%





AVAILABLE FOR SALE

Documents

67575 Canyon Plaza Dr. - LoopNet...Tenant: Desert Horizon Consulting, LLC. Use: Fully improved, licensed and operating cannabis cultivation campus Term: 20-years from C.O.E. Security