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- With cannabis legalization exploding nationwide, there are now over 19,500 incorporated U.S. cities, town, and villages that will govern local cannabis regulations
- Zoned Properties is comprised of a team of experts in cannabis zoning codes utilizing proprietary technology to identify premium cannabis dispensary locations
- Focused on its dispensary landlord model, the company has listed its largest cultivation property in Arizona for sale for $16 million
The cannabis industry is flourishing, but opening a dispensary isn’t a walk in the park. Aspiring entrepreneurs face a maze of regulations and considerations beyond simply having a quality supply chain.
Unprecedented Geographic Growth
California sparked the green wave in 1996 by becoming the first state to legalize medical marijuana. Fast forward 16 years, and Colorado and Washington shattered another barrier in 2012, allowing recreational cannabis use. Since then, the domino effect has been undeniable, with 38 states now permitting medical marijuana and 24 embracing recreational use.
In 2010, public approval for legal cannabis was just 32%. Today, with industry sales nearing $40 billion annually, approval is 91%. With that, there are now over 19,500 incorporated U.S. cities, town, and villages that will govern local cannabis regulations.
Zoning Laws and Location
Unlike many businesses, cannabis dispensaries are heavily restricted by state and local zoning ordinances. Understanding these complex regulations is crucial. Some areas completely ban dispensaries, while others have strict limitations on location. Navigating these restrictions can be a minefield, requiring expertise in real estate and community planning codes.
Not long after Colorado and Washington made history, Zoned Properties (OTCQB: ZDPY) was formed for the purpose of capitalizing on the real estate component of the burgeoning cannabis market. The company assembled a team of real estate experts specialized in different market nuances and undergirded their experience by developing a cutting-edge technology that differentiates Zoned Properties from anyone else in the industry.
The history and future of the company is brilliantly summarized in a recent Bell2Bell podcast with Zoned Properties CEO and Chairman Bryan McLaren.
Knowing Your Market
Finding the right location goes beyond zoning. Just because marijuana is legal doesn’t mean there’s specific demand. Demographics, traffic patterns, and competitor saturation all influence success. Data analysis and market research are crucial to ensure a dispensary caters to a viable customer base.
Zoned Properties’ proprietary technology plots every parcel of land in every legal cannabis state to know the codes and zoning at every location. Furthermore, the system identifies areas of high consumer demand and low supply. In other words, a perfect location for a dispensary.
Zoned Properties doesn’t just find properties; they transform them. Their team of real estate and community planning experts navigate the complex world of zoning regulations to obtain “special use”, or “conditional use” permits necessary for properties to operate as cannabis dispensaries. This entitlement significantly increases a property’s value.
The Cannabis Friendly Landlord
The business model has changed some over the years, with ZDPY management identifying the best way to build value is through owning and renting dispensaries via long-term absolute-net lease agreements. To that end, the company intends to fill its coffers by positioning to sell its largest cultivation property in Chino Valley, Arizona, which it recently listed for $16 million.
In its March 2024 corporate presentation, Zoned Properties said it had $3.1 million in cash on hand. Add in another $16 million and that is an anomaly of cash for a company with a market capitalization around only $7 million.
The dilution-free capital from the sale will be deployed to continue aggressive dispensary expansion into states exploding with growth and demand, including Ohio and Illinois.
For more information, visit the company’s website at www.ZonedProperties.com.
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://cnw.fm/ZDPY
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