Big Cannabis Store On The Market For $2M

3D-Cannabis-cemterHigh-profile cannabis store 3D Cannabis Center is on the market. And it’s not just any store: 3D Cannabis Center gained media fame as it essentially made the world’s first state-legal sale of recreational marijuana.

The price to get a piece of the marijuana pie? $2 million.

The cool price tag on one of the biggest recreational marijuana stores to date is a real steal considering that everything one could possibly need to start a rec store is included in the price. That includes rec retail license, intellectual property rights, cultivation license and growing equipment.

According to current store owner Toni Fox, the store is “going to go quick.” There have been walk-throughs by industry people this past week and she expects at least one offer to come up that will likely be more than the asking price.

Despite the $2 million price tag, Fox said it barely covers the cost of running the store when it was still operating as a medical marijuana dispensary. She believes she will be “probably walking away even.”  But for her, breaking even isn’t so bad because there are many other marijuana vendors that are having more trouble.

3D Cannabis Center first garnered attention on January 1, 2014. Supporters of the store advertised it as the first-ever cannabis-selling store that is a state-licensed business. Internet posts and news outlets helped generate interest as well.

CNN checked on the store last month and found out that its value had skyrocketed to $3.6 million. This is after four years in business in the red.

Greene Consulting Group CEO Nick Brait added that this kind of price and popularity is bound to attract a lot of buyers. In the hands of a good manager, said Brait, 3D Cannabis Center can be the first retail store that sells marijuana throughout the US. With many people looking to enter the marijuana business and the store’s notoriety, 3D Cannabis Center is bound to hit it big.

Brait even suggested that Fox could potentially sell the store for more than $2 million. There are smaller stores selling for $1 million but given the popularity of 3D Cannabis Center, it could sell for much more than its smaller counterparts.

Fox revealed that the original selling price for the store was $3 million. She marketed to her circle of industry friends but didn’t generate as much interest as she expected. Then she decided to broaden her view and marketed to influential folk in the Colorado cannabis industry. This managed to get the interest that she needed.

The soon-to-be ex-owner, however, has no intention of getting out of the marijuana business anytime soon. She has been an activist and businesswoman for a long time, and still has a smaller store, 3D Cannabis Center Salida, which she can run right where she lives.

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