Watsonville CA, Retail development on Highway 1

EXECUTIVE SUMMARY

This is a rare and exciting opportunity to build a top-tier cannabis retail experience from the ground up in one of California’s best municipalities, Watsonville CA. Just miles outside of Santa Cruz, this property is the first Santa Cruz exit heading north on the famed State Highway 1. At peak season up to 100,000 vehicles a day will travel on Highway 1 and they will be sure to catch this one of a kind dispensary because of the signage located directly next to the roadway.

The property owners are seeking well-capitalized investors or an existing cannabis brand that is eager to work closely to transform this property into a showpiece not only for Santa Cruz, but the entire California market. This is a one-of-a-kind opportunity where a prospective brand will be able to make their mark, in one of the hottest counties in the country for Cannabis.

Watsonville CA, Retail development on Highway 1

PROPERTY OVERVIEW

The property is under contract for purchase and the city has been engaged and has given approval for building to commence immediately. This area of Watsonville is quickly developing into a hub for commerce both with locals and highway travelers. Just in the last year Starbucks, Hampton Inn and Arco AM/PM mini market have all set up locations in the near vicinity.

Assessor's Acreage: 0.7710
Assessor's Sq Ft: 33,584.7600
Boundary: Inside Urban Services line
Address: 1610 W Beach St
Jurisdiction: City of Watsonville
Type: Vacant Industrial Land
Signage: Sign over highway 1

INVESTMENT OVERVIEW

This is an opportunity to develop a cannabis retail property adjacent to California State Highway 1. The property has been granted a provisional license by the city of Watsonville. Current owners are eager to work with investors to design and construct a flagship retail location. They have a close relationship with the city as well as hold multiple cannabis businesses and have qualified as Certified local CA equity Cannabis operator.

Highlights

The only equity retail license in Watsonville and 1 of 3 retail licenses in total for the city.
Traffic during peak season on Highway 1 Santa Cruz County is >100k vehicles/day, Highway 1 in Watsonville is 40k-80k vehicles/day
A comparable dispensary of this type earns $60-$100/visit with an average of 800 - 1,200 transactions per day
Existing signage on Highway 1 is extremely valuable for a business of this type / location, historically costing hundreds of thousands to install, when it was still possible to place a sign on Highway 1 in Santa Cruz.
Increasing supply of cannabis means retail is quickly becoming the most lucrative and sought-after sector of the market

INTERESTED?

We would love the opportunity to share more about this exciting project with you. The next step is for us to set up a short call to go over all of your questions and concerns as well as share with you key information that will aid you in your review of this opportunity.