Find a California retail property for a dispensary, compare a building already leased to an operator, or evaluate a dispensary offering that includes the real estate. Start with one question for the seller: will the buyer receive the deed, an interest in the business, or a lease assignment?
Request a dispensary property search · Browse California cannabis properties by type
Decide what you want to own
| Offering | What you acquire | First documents to request |
|—|—|—|
| Vacant retail building | Deeded real estate for a proposed owner-user or tenant | Preliminary title, address and APN, land-use records, building plans and written local guidance on the intended use. |
| Building leased to a dispensary | Deeded property with a tenant in place | Signed lease and amendments, rent ledger, remaining term, guaranties, tenant compliance obligations and any options. |
| Dispensary business and building | Real estate plus defined business assets or ownership interests | Asset and purchase-price allocation, real estate documents, operating records, licenses and a proposed approval timeline. |
| Dispensary business in leased premises | Business assets or ownership interests with contractual rights to occupy the space | Full lease, assignment and change-of-control clauses, landlord consent procedure, renewals and ownership of fixtures. |
Screen the exact address before negotiating
1. Confirm the jurisdiction and activity. Verify city limits and ask whether the site can support a public storefront or the specific delivery model you intend to operate. The DCC distinguishes storefront and non-storefront retail.
2. Verify the local path. Ask the local authority about application availability, spacing rules, sensitive uses, permit caps or site conditions that apply to the parcel. Obtain a written response when your transaction depends on site eligibility.
3. Compare approvals with the space. Match the permitted suite and approved diagram to customer areas, access, storage and planned improvements. Confirm occupancy, accessibility, parking, signs and fire or building records with the appropriate offices.
4. Check current operations. If there is an existing operator, compare the entity and premises with the DCC record and local file. Ask counsel to confirm how a business sale, lease assignment or change in operator would affect continuity.
DCC retail requirements · California jurisdiction guide · California Unified License Search
Underwrite a tenant-occupied dispensary building
Ask for rent collected, concessions, arrears, lease term, options and who pays property expenses. Review the permitted-use clause, security and improvements obligations, landlord consent and what happens if the tenant stops operating. Estimate vacancy, restoration and the time and cost of leasing to a conventional retailer. Use local commercial comps and the tenant’s actual payment history to test the asking price.
Plan for a purchase that includes the business
Ask for a schedule that identifies the real estate, fixtures, equipment, inventory and business assets. Verify who owns each item. Confirm lease assignment or landlord consent if applicable and put the licensing and closing dependencies into the transaction timeline with counsel. Evaluate business financials independently of comparable property sales.
Does a building purchase include the dispensary license?
A building sale conveys the agreed property interest. Confirm the local and state process for the specific licensed entity, premises and ownership change. DCC regulations
Can a delivery location become a storefront?
Confirm the intended storefront use with the local authority and DCC. A conversion can involve separate approval and physical changes to the premises.
California cannabis property due diligence · How to value cannabis real estate · Commercial property financing considerations · Talk to Diamond Real Estate Group
