Morongo Industrial Park (D-1)
I like this project a lot because:
- It already has tenants wanting to move in that are qualified.
- It has an appraisal showing it’s value at 5.1M 6 months ago. This sector is only increasing in value with the law changes and limited availability to Green Zone Buildings.
- It’s a fast turn around opportunity, because we are doing a triple net lease, the tenant also does their own Tenant Improvements increasing the value of our property. Only giving the tenant 2-3 months to move in before we start collecting rent and begin getting an ROi and seasoning the loan so we can refi in 6-9 months.
CALIFORNIA’S PREMIER DEVELOPMENT FOR CANNABIS CULTIVATION & MANUFACTURING
Brand New Premier Facility Featuring State-of-the-Art Industrial Warehouses Designed for Indoor Cultivation & Manufacturing. Located on Little Morongo Rd. in Desert Hot Springs, CA
Morongo Industrial Park is a new state-of-the-art project being developed to offer the ultimate business environment for marijuana cultivation and manufacturing. Located in the Light Industrial district of Desert Hot Springs, CA, this development has an approved
Conditional Use Permit for unlimited cultivation, manufacturing/ processing and lab testing.
Featuring 18 buildings to be sold on their own tax lots, the business park is the largest and most premier of it’s kind in California, providing the ultimate opportunity for a business owner to own and operate their own cultivation facility without the expense or timely process of developing and building on raw land.
Desert Hot Springs is ideally located next to Palm Springs, and has convenient I-10 access to serve all of Southern California. The city is currently issuing unlimited growth cultivation permits per MMJ ordinance 552, 553 & 585. Time is of the essence for compliance with 2018 state licensing. Don’t miss this opportunity.
- 27,748 SF Free Standing Shell Buildings from
- Property has been appraised at 5.1M 6 months ago and prices have only gone up
- Private high security development with 24/7 Armed Gate Guard
- City CUP Cultivation Permit included with purchase!
- Engineered buildings offering:
- High insulated wall and roof panels
- 3 Phase/480V high output power
- Solar-panel ready roof systems
- Offices with built-in security rooms
- 30’ tall profiles for massive clearance heights
- Private lot fencing & security lighting included
- Compliant with Desert Hot Springs business requirements
- Take advantage of pre-constructing pricing
- Scheduled Delivery: Fall-Winter 2017
The exit strategy on this project: Refinance
Because this property is a new build, there is no income so it is impossible to give an accurate evaluation. Once the Tenant moves in and starts to pay rent we can begin our seasoning period of 3-12 months depending on the lender. A 12% CAP rate is extremely low and would put this properties value at $9.017M OVER double what we are purchasing it for. This would allow us to refinance the property and get our investors back their original capital quickly.