5885 N Paramount Blvd

NAI Capital presents a rare opportunity to acquire a 7,200 sq. ft. building on a 18,030 sq. ft. lot, that is situated within the Green Zone of Long Beach. Previously utilized for cultivation use, this asset provides the convenience of a existing built-out facility previously approved and licensed by the City and State for cannabis cultivation. The property was intensively improved in 2018/2019 with improvements including all new heavy power (800 amp 3 phase), DPS insulated walls, 3 flower rooms, 1 vegroom, 1 mother room, drying room, and utility/watering room. Property amenities also include custom rolling trays, custom walk-in vault safe for product storage, ADA bathroom, security camera system, epoxy floors, reception area, and a private office. Additionally, the asset is situated on a large secured gated lot and has ample parking + a covered awning area in the rear of the building. There is also an upstairs mezzanine area that can be used for storage that is not included in the square footage. Property is zoned LBIG (General Industrial) and can also be used for many traditional businesses as well. (See city website for all permitted uses) Potential CAP Rate of 8.15% at list price with lease up. Call Broker for details.