RLD Licensed Cannabis Cultivation Business with Water Rights

21 Apr RLD Licensed Cannabis Cultivation Business with Water Rights

Posted at 17:13h in by Michael Greene

Price: $1,890,000

Location: Otero County, New Mexico

Industry: Agriculture, Cannabis Cultivation

Listing ID: 881

Incredible opportunity to acquire a Fully Licensed Cannabis Cultivation business that includes the real estate that also has water rights! New Mexico law requires all Cannabis Cultivation applicants to demonstrate the legal right to a commercial water supply, a valid water rights or another supply of water. This area has been experiencing expansive growth on the retail side and due to the water well requirements, there aren’t enough growers in the area to keep up with the demand!

The 9-acre property has up to 41.9 acre foot of Irrigation water rights and 6 acre foot of Domestic water rights. There are also 360 mature and producing pistachio trees that yield around $3k in yearly profits. The property consists of multiple fields and open space with many opportunities to expand. There are three in-service power poles to expand power sources if needed and two wells. One well services the 360 pistachio trees and the house. The second well on property needs repairs to be operational.

Multiple buildings on property include a barn and two shops with power. With minor renovations the barn has potential for excellent indoor grow, drying facility or manufacturing area. The larger shop building has potential for an indoor grow. The smaller shop building will need repair but would make an excellent nursery. There are also built-in animal pens, goat kidding pens, and a tack room. Has potential to be rented out or removed to allow for extra grow space.

The home on the property is a 2,240 sq ft home that has 3 BD/2 BA with an oversized laundry room, office, and den. Owner suite with oversized bath and walk-in closet. Metal roof. Large, fenced front and back yards, backyard has irrigation system around the fence perimeter and in the garden beds. A new septic system was installed in 2021.

The additional leveled fields on the property could be used for container growing once a fence and security systems are installed around them. This opportunity represents $400,000 in capital investments.

Details:

License: RLD State Cannabis Cultivation
Property included
41.9 Acre Feet of Irrigation water rights
6 Acre Feet of Domestic water rights (3 Acre Feet are non-operational)
Cultivation shops metered through Otero County Electric Co-Op

Property Details:

Lot: ~9 acres
(1) 30×50 Shop
(1) 24×24 Shop
(1) 60×40 Barn
(1) 2200 Sq Ft 3BD/2 BA Home
(2) Wells on site
360 Pistachio Trees

Licenses:

Adult-Use Producer License: Allows for cultivation of cannabis plants; has unprocessed cannabis products tested by a cannabis testing laboratory; transports unprocessed cannabis products only to other cannabis establishments; or sells cannabis products wholesale.

Prospective buyers must sign an NDA/Waiver and provide Proof of Financials before any other detailed information is released, along with the company’s location.

This is presented exclusively by Green Life Business Group, Inc.