Cannabis Land For Sale  

Cougar Ridge, Nipomo, CA

Property Details

Price

Property Type

$7,000,000

Land

Zoning

Lot Size

AG

120 Acres

Property Description​

This is an amazing opportunity to purchase a 120+ acre cannabis farm located in beautiful San Luis Obispo County. The Cougar Ridge Farm consists of three forty-acre parcels; 048-151-037, 048-151-043 and 048-151-044.
 

Water: There are two wells on parcel 048-151-043 and one well on each of the other two parcels which are sufficient for all projected water needs. Irrigation lines throughout the entire property are already in place, as are all necessary water and nutrient storage tanks.


Electricity: Parcels 048-151-043 and 048-151-044 currently have grid-connected power. Parcel 048-151-037 does not have electricity; however, a quote was obtained from PG&E, and it is estimated power can be brought into the parcel for approximately $55,000 if desired.

 

Telecommunications: All parcels have cellular coverage. Parcels 048-151-043 and 048-151-044 have Satellite Internet and land-based phone lines located at the residential structures.


Residential Structures: Parcels 048-151-043 and 048-151-044 have residential structures. The 2-bedroom home on parcel 048-151-043 has had a $300,000 remodel and is approximately 2,500 square feet, with a detached 1,200 square foot garage. The 2-bedroom house on parcel 048-151-044 is approximately 1,800 square foot with a 235 square foot barn. Parcel 048-151-037 does not have any permanent structures.

 


LOCATION
The farm is an equidistant 3-hour drive from both Los Angeles and San Francisco making it convenient from a sales distribution standpoint. San Luis Obispo County is known for being one of the premier cannabis cultivation climates in California along with Humboldt and Santa Barbara counties.


With the Pacific Ocean to the west, each evening through mid-morning Pacific fog and coastal breezes funnel in and permeate the property throughout the year. Combined with low annual precipitation, an ideal elevation above sea level and an abundance of natural aquifers, the area enjoys a premier microclimate coupled with an extended growing season that is also prized by California’s wine industry.

CANNABIS CULTIVATION HIGHLIGHTS
San Luis Obispo County places limits on the size of cultivation operations allowed based on zoning location. For the area encompassing Cougar Ridge, regulations prohibit cultivation on parcels/farms of less than 50 acres. For parcels/farms 50 acres or larger, San Luis Obispo allows one-acre of outdoor cultivation, and an additional one-half acre of indoor cultivation. San Luis Obispo classifies hoop structures without supplemental lighting as “outdoor” cultivation. SLO regulations allow two or more adjacent parcels controlled through ownership or lease by the same cultivator to be combined in order to meet the 50-acre minimum size limit. As such, the three Cougar Ridge parcels comprising 120 acres meet this threshold, and the farm qualifies for a cultivation size of one-acre of outdoor cultivation, and an additional one-half acre of indoor cultivation (approximately 65,000 square feet of canopy).


Potentially, a lot line adjustment would allow the property to be licensed at double the above cultivation threshold, for a total of two-acres of outdoor cultivation and one acre of indoor cultivation, or approximately 135,000 square feet of total cultivation canopy. To accomplish this, parcel 048-151-044 would have to be divided such that, at minimum, ten acres or more of the 40-acre parcel 048-151-044 could be allocated to one of the adjacent parcels, with the other portion allotted to the remaining parcel, making them 50 acres or more.

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Jason Hart

Broker

DRE #01334694

O:  805.481.9010

C:  805.709.6491

E:   jason@hartcre.com

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Hart Commercial Real Estate  /  T 805.481.9010  /  info@hartcre.com  /  © 2021 Hart Commercial Real Estate

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