Washington Cannabis Real Estate & Regulations
Zoned Properties in Washington
Population:
7.739 million (2021)
Local Zoned Broker:
Affiliated Partnerships Available
Number of Retail Licenses:
502
Licensing Status:
Awarding licenses since 2014
Legal Status:
Recreational
Cannabis Sales:
$7.7 billion (Gross Retail Sales Since Legalization Up To 2022 FY)
License Dynamic:
Unlimited
Delivery Allowed:
Yes
Drive Thru Allowed:
Yes
Find Compliant Cannabis Real Estate Properties With Ease In Washington!
The consequences of investing in Cannabis real estate without due diligence are adverse, and they include:
- Cease and desist orders,
- Revocation of license,
- Reputational risk,
- Business disruption and closure,
- Limited market reach,
- Low community acceptance,
- Security and safety concerts, and more.
As a business person, you understand how these consequences can ruin your business or investment portfolio, which is why it is crucial to work with professionals trained to prevent it. At Zoned Properties, we don’t only connect you with compliant properties; we go the distance to bring you properties that foster a successful business.
From dispensaries, cultivation facilities, production operations, or even testing laboratories, our experts will ensure you get total value for your investment.
Site Identification
We will help you identify compliant, business-friendly zones in Washington to invest in. Our experts will analyze the property for complete compliance, market reach, community acceptance, and more to ensure it is safe and ready for your Cannabis business.
Brokerage
Our brokers have a strong connection with attorneys, lenders, contractors, and consultants to assure you of the best Cannabis real estate deals in Washington. From retail properties to cultivation facilities, we will bring ease and speed to the investment process.
Investment
As a Cannabis real estate investor, we understand that you want to put your money where the stakes are favorable and the ROI is mouthwatering. We have many profitable Cannabis real estate properties in our portfolio that you’d be happy to invest in.
Ready To Invest In Cannabis Real Estate In WA?
If you’re considering investing in the Cannabis industry, real estate is a promising avenue to explore, especially in Washington State. As one of the earliest states to legalize recreational Cannabis, the sector has seen significant growth in Washington, creating a demand for Cannabis real estate.
Investing in Cannabis real estate with us can provide stable, long-term ROI and potential capital appreciation. Washington State’s regulatory framework for the Cannabis industry is well-established, providing a stable environment for investors to operate in.
With the continued growth of the Cannabis industry and the increasing demand for real estate, now may be an opportune time to consider investing in Cannabis real estate in Washington State. Work with our experts to get the best deals on Cannabis real estate today!!
Washington Cannabis Regulations
State Cannabis Overview: In December 2012, Washington became the first US state to legalize the use and sale of recreational Cannabis. Fourteen years prior, in 1998, the state had legalized the use and sale of medical Marijuana, making it one of the pioneers of the legalization of the substance.
The Cannabis industry in Washington has grown steadily over the years. In 2020, the total sales of Cannabis reached approximately $1.03 billion, generating around $469 million in tax revenue for the state. These figures reflect the continued growth and consumer demand for Cannabis products.
Licensing: Washington issues Cannabis business licenses through the Washington Liquor and Cannabis Board (WLCB). The board issues seven types of Cannabis licenses, including the following:
- Processors;
- Retailers (dispensaries);
- Producers;
- Transporter;
- Cooperative;
- Testing laboratory;
- Research;
The state is currently not issuing Cannabis business licenses. However, the Liquor and Cannabis Board (LCB) will be reissuing Cannabis retail licenses that were forfeited, revoked, or canceled earlier to applicants using the social equity criteria. These licenses also include those not issued but remain within the existing quota.
Local Authority: Local authorities in Washington State can prohibit or restrict the operations of a Cannabis business failing to meet the regulations and laws. The counties and cities also have the power to designate appropriate zones to establish Cannabis businesses.
You don’t have to go through the rigors of finding compliant properties. Let’s take that burden off your shoulders and offer you ease and speed. Send us a message today or call: 18773608839
Median Age: 37.8 years
Median Income: $37,656
Regulations last updated as of: August 2023
Have any Questions?
How much is a dispensary license in Washington?
The Washington LCB charges a unified rate on Cannabis licenses regardless of type. Applicants must pay a non-refundable application fee of $266, followed by a $1,062 annual renewal fee.
Note that the state is not currently issuing new licenses. Although there is no statutory rule or quota setting a cap on the number of cannabis businesses in the state, the state has paused license applications until further notice.
How big is the Cannabis Market in Washington?
The Washington State Cannabis market is arguably one of the largest in the country, making a whopping $7.7 billion in recreational Cannabis sales since 2015. It is projected that the Cannabis industry will experience a 50% boost by the end of the 2025 fiscal year, reaching over $2.5 billion in annual adult-use Cannabis sales.
The industry directly employs more than 11,000 employees, with consumers paying more than 46.2% in taxes. Even though the industry appears to have peaked, there’s still an upward trend in purchases, acceptance, and demand.
What Cannabis companies are in Washington state?
Washington State is home to a thriving Cannabis industry, with numerous companies operating across the state. Here are some of the notable cannabis companies in Washington:
- Leafly
- Privateer Holdings
- Evergreen Herbal
- CannaSol Farms
- Fairwinds
- Dawg Star Cannabis
- Avitas Agriculture – Avitas Agriculture is a producer
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://en.wikipedia.org/wiki/Cannabis_in_Washington_(state)
https://washingtonstatecannabis.org/licensing
https://www.statista.com/statistics/1076951/retail-cannabis-sales-in-washington/ (Total adult-use Cannabis sales)
https://mjbizdaily.com/wp-content/uploads/2022/01/High-Peak-Strategy-Economic-Analysis.pdf (number of licenses)
https://mrsc.org/explore-topics/legal/regulation/cannabis-regulation
https://mjbizdaily.com/washington-state-marijuana-industry-robust-faces-challenges-10-years-after-legalization/
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