New Mexico Cannabis Real Estate & Regulations
Zoned Properties in New Mexico
Population:
2.116 million (2021)
Local Zoned Broker:
Affiliated Partnerships Available
Number of Retail Licenses:
633 (As of June 2023)
Licensing Status:
Awarding licenses since 2022
Legal Status:
Recreational
Cannabis Sales:
$363.4 million (Adult Use Gross Sales since Legalization)
License Dynamic:
Unlimited
Delivery Allowed:
Yes
Drive Thru Allowed:
No
Own A Profitable Green Zone In New Mexico: Let’s Be Your Guide!
Finding compliant Cannabis real estate properties is challenging. It is financially and mentally draining. There are too many moving parts, including state regulations and local jurisdictions. When you eventually find a property, you must ensure it complies with the zoning regulations. Failure to do this can result in:
- Legal actions and lawsuits
- Injunctions and cease-and-desist orders
- Excessive fines imposed by local authorities
- Loss of public support.
- Closure and revocation of your license
We will lift that burden of stress, worry and doubt off your shoulders by guaranteeing you compliant properties that also offer.
- Community acceptance
- A collaborative ecosystem
- Proximity to resources
- A skilled workforce
- Supportive infrastructures, and
- Accessible markets.
Send us a message today, and let’s connect you with profitable Cannabis properties in New Mexico.
Here’s a look at our Cannabis real estate services:
Site Identification
Our experts will help you find and identify compliant real estate properties for your business within your preferred municipalities. We carefully review, examine, and evaluate the property to ensure peace of mind.
Brokerage
We work with experienced Cannabis real estate brokers across New Mexico and the US to help you locate buyers, sellers, lessees, and lessors. We help bring ease and swiftness to the process.
Investment
We specialize in connecting visionary investors with prime properties poised for exceptional growth. Our team of experts analyzes market trends, regulatory landscapes, and emerging consumer demands to identify the most promising locations for business.
Ready To Invest In Cannabis Real Estate In NM?
The state of New Mexico has created a level playing field for Cannabis businesses, allowing anyone who meets stringent requirements to acquire a Cannabis business license. This makes for a competitive business environment.
The state recorded over $300 million in only the first year of launching adult-use sales, and that figure is expected to grow exponentially.
If you plan to invest in Cannabis real estate, the best time to do it is now.
Hundreds of businesses in NM are acquiring real estate properties for their business, and you shouldn’t be left with the bottom of the barrel. Take action today and make a sustainable investment for your future and your business.
Send us a message to find compliant zones in New Mexico today!
New Mexico Cannabis Regulations
State Cannabis Overview: New Mexico legalized medical Cannabis in April 2007, making the state the 12th state to do so and the 4th to do it through an act of state legislature. Almost exactly two years later, in April 2021, Governor Lujan Grisham signed House Bill 2, legalizing the recreational use and sale of Cannabis in June 2021. This made the state the 17th to do it.
Since then, the state has witnessed a surge in industry development, market expansion, and regulatory changes. The state charges a 12 percent excise tax on all recreational Cannabis sales, with an additional retail sales tax of 5.13 percent. New Mexico plans to set excise tax at 13 percent in 2025, with a one percent increase yearly until it reaches 18 percent in 2030.
Sales officially began in April 2022
Licensing: The licensing process in New Mexico is rigorous and highly regulated. The state employs a competitive application process to ensure that businesses meet specific criteria, such as financial stability, security protocols, and compliance with state regulations.
Cannabis operators must understand the laws and regulations and apply for commercial Cannabis licenses through the Cannabis Control Division (CCD).
The following are the types of licenses available in New Mexico:
- Adult use producer license
- Adult use manufacturer license
- Adult use retailer license
- Integrated Cannabis microbusiness license
- Vertically integrated Cannabis establishment license
- Cannabis producer microbusiness license
- Adult use Cannabis courier license
- Cannabis consumption area license
- Cannabis testing laboratory license
- Medical manufacturer-only license
- Cannabis research laboratory license
- Non-profit producer license
- Medical Cannabis courier license
- Medical Cannabis testing license
- Person production license: This permits medical Marijuana patients to grow Cannabis only within the identified location on the license.
Local Authority: The New Mexico law gives local jurisdiction some say in regulating Cannabis within their communities. Some of these regulations include zoning restrictions, operating hours, and manner of operation. However, no municipality has the power to prohibit the operation of a licensed Cannabis business, among a few other limitations of power.
Let’s relieve you of the burden of searching for and identifying compliant zones in NM. Let our experts do the work for you, assuring you of absolute peace of mind and focus on the core aspects of your business. Send us a message today!
Median Age: 38.1
Median Income: $26,599
Regulations last updated as of: August 2023
Have any Questions?
What is the size of the New Mexico cannabis market?
In just one year of kicking off the sale of adult-use Cannabis, New Mexico recorded a whopping $300 million in recreational Cannabis sales. The state makes an average of $29 million in monthly adult-use Cannabis sales, peaking at $32 million in March 2023.
Which towns in New Mexico are Cannabis-friendly
All municipalities in New Mexico fully participate in the Cannabis program and have no prohibition whatsoever. However, some cities and towns have recorded higher sales than others, reflecting the acceptance rate of the substance within the communities. Some Cannabis-friendly cities in New Mexico include Santa Fe, Albuquerque, Rio Rancho, Clovis, Hobbs, Gallup, Sunland Park, and Las Cruces.
How much will the cannabis market be worth in 2030?
According to a report by Grand View Research, the global Cannabis industry is expected to reach $102.2 billion in 2030 with a compound annual growth rate (CAGR) of 25.4 percent starting from 2023.
The Cannabis market in the US is also expected to hit an all-time high of $40.1 billion in 2030 with a CAGR of 14.4 percent.
Still have questions? Contact us
Disclaimer: The information provided on this website does not, and is not intended to, constitute legal, financial, or other professional advice. All information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; Zoned Properties does not recommend or endorse the contents of the third-party sites.
Sources:
https://www.salestaxhandbook.com/new-mexico/marijuana#:~:text=New%20Mexico%20consumers%20are%20required,of%20marijuana%20for%20personal%20use.
https://en.wikipedia.org/wiki/Cannabis_in_New_Mexico
https://www.rld.nm.gov/cannabis/commercial-cannabis-program/#:~:text=Cannabis%20businesses%20in%20New%20Mexico,sell%20cannabis%20without%20a%20license
https://newmexicostatecannabis.org/licensing
https://www.governor.state.nm.us/2023/04/03/new-mexico-cannabis-industry-marks-one-year-more-than-300-million-in-adult-use-sales/#:~:text=adult%2Duse%20sales-,New%20Mexico%20cannabis%20industry%20marks%20one%20year%2C%20more%20than,million%20in%20adult%2Duse%20sales&text=Gov.,which%20began%20in%20April%202022. (Number of dispensary licenses)
https://qimw5q0w5j.execute-api.us-west-2.amazonaws.com/prod/sales.html (sales data)
https://www.grandviewresearch.com/press-release/global-legal-marijuana-market#:~:text=Legal%20Marijuana%20Market%20Growth%20%26%20Trends,25.4%25%20from%202023%20to%202030.
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