10030 W 27 Ave Wheat Ridge, CO

This is a rare opportunity to acquire a stabilized commercial asset in Wheat Ridge, Colorado. The freestanding building has 4,795 square feet of space and sits on a 24,829 square foot lot. It is zoned C-1 and features 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. The tenant, Trees, is a publicly traded multi-state cannabis company, and has signed a new 5-year NNN lease at $21.52 per square foot ($8,600 per 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. 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. The property has high traffic counts and ample parking.