Reefer real estate: Vancouver pot shops listed for $8.5M, $1.95M
The Eggs Canna location at 208 East 16th Ave. is shown in an image posted on Realtor.ca.
Published Monday, September 23, 2019 3:19PM PDT
Two Vancouver pot shops are listed for sale online, though they're not technically legal businesses yet.
The owners of Eggs Canna, a cannabis retailer which has been around since 2014, are looking for $1.95 million for the business on East 16th Avenue near Main Street.
The listing posted on Realtor.ca under the MLS number C8026523 says the business is in the final stage of B.C.'s application process.
"Approval imminent," the listing agent wrote in the post.
"This unique venture allows entry into the burgeoning cannabis sector in Vancouver, BC – the epicentre of cannabis culture."
The successful buyer will take over the business located next to a recently built pub, in a location its realtor claims is "poised to attract significant foot traffic."
They'll be responsible for paying a monthly rent of $6,000, and locked in for five years on a contract with an additional five-year extension option. There are seven years left on that contract, the post says.
The 900-square-foot space has been recently renovated with custom-built cabinetry, a high-grade security system and "vintage brick accent wall."
There are four customer parking spots at the back, and two street parking spots out front.
The second property is listed at a whopping $8.5 million and located on the East Hastings Street near Nanaimo Street.
Eggs says the pricier storefront is also in the final stages of provincial application, and that the future owner will "inherit strong retail presence and extensive client base from previous 4 years operations."
The rent for the 4,039-square-foot space is $16,829 per month, on a 10-year lease with a 10-year option. The current owner is just a year into that deal, so the future owner could have another 19 at the location.
The post under the MLS number C8026521 boasts "territorial advantages" due to its proximity to Burnaby. The city east of Vancouver previously said it would only allow government-run retail locations within its boundaries, meaning those looking for private stores may be tempted to cross into Vancouver.