Old Port Cannabis Store for Sale
Business Opportunity
for Sale
| Catylist Listing ID: |
30857418 |
| Property Subtypes: |
Retail Stores
|
| Building Size (RSF): |
1,400 SF
|
| Sale Price: |
$700,000 |
| In Opportunity Zone? |
Yes |
| Name of Establishment: |
Higher Grounds |
| Business Website Address: |
https://www.highergrounds.me/ |
| Gross Revenue: |
$0 (Annual) |
| Cash Flow: |
$0 (Annual) |
| Sale Terms: |
Please reach out for financials and sale terms. |
| Last Updated: |
4/19/2024 |
Overview / Comments
|
Higher Grounds is a warm, inviting medical cannabis storefront & coffee shop. Positioned on Wharf Street, one of the Old Port’s most recognizable & charming streets, it is a gem of an opportunity for a new owner to open as an adult use cannabis store. Nestled on one of the Old Ports only pedestrian streets, across from one of the City's only night clubs, this location was featured in Conde Nast Traveler as the East Coast’s first cannabis & coffee shop!
|
Additional Details
| Nearest MSA: |
Portland-South Portland |
| County: |
Cumberland |
| Industry Segment: |
Independent Stores |
| Value of Inventory Included ($): |
$0 |
| Value of Furniture, Fixtures, and Equipment ($): |
$0 |
| Real Estate Status: |
Leased |
| Value of Real Estate Included ($): |
$0 |
| Real Estate Lease Description: |
Below market value lease for the Old Port! $43.26 /sf /yr + 3% annual with 3 years, 8 months remaining on the current lease and discussions with landlord have begun to ensure new tenant will be allowed to stay after the current lease is up. |
| Mgmt/Training Support Description: |
Owner and director willing to help new owners to get up and running. |
| Growth/Expansion Opportunities: |
This store needs to be an adult use cannabis store. The store currently turns away 20-75 customers per day May through October, many more stop and see medical signs but don't enter because they can’t purchase medical. |
| Seller Financing Description: |
Please reach out for financials and sale terms. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
23,835 |
74,064 |
111,394 |
| Median Age: |
34.73 |
37.81 |
39.18 |
| Households: |
12,603 |
34,671 |
50,199 |
|
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Neither New England Commercial Property Exchange nor
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