CONFIDENTIAL LISTING - ADDRESS AND TENANT DETAIL AVAILABLE UPON REQUEST. Marcus and Millichap is pleased to present a fully licensed dispensary location in the San Fernando Valley. The asset was originally built in 1989 and is zoned LAC2 with 20 surface parking spaces available. It enjoys an irreplaceable location and is fully compliant with current state and local regulations, and is legally permitted to sell medical and recreational marijuana. The current tenant has been licensed and permitted to sell marijuana for over ten years, and received their Proposition M License for this location in April of 2018. The tenant is on a NNN five year lease with a five year extension, and they have invested over $1 Million in capital improvements in the building in the last calendar year. The property also has future development potential. Current zoning permits up to 80 multi family units by right. Alternative uses could include re-tenanting the building with a traditional NNN tenant, such as fast food, automotive, etc.
