West Virginia Cannabis Real Estate & Regulations
Zoned Properties in West Virginia
Population:
1.783 million (2021)
Local Zoned Broker:
Affiliated Partnerships Available
Number of Retail Licenses:
52
Licensing Status:
Awarding licenses since 2019
Legal Status:
Recreational
Cannabis Sales:
$56.5 million (Gross Retail Sales Since Legalization Up To 2022 FY)
License Dynamic:
Limited
Delivery Allowed:
Allowed (By a physician)
Drive Thru Allowed:
Not Allowed
Find Compliant Cannabis Real Estate Properties With Ease In West Virginia!
One of the biggest pitfalls we’ve seen Cannabis operators enter into is choosing the wrong property and working with inexperienced real estate agents to acquire Cannabis properties. Below are the results of making that adverse decision:
- Disruption and closure of your business
- Limited market reach
- Low community acceptance
- Cease and desist orders
- License revocation
- Reputational risk
- Security and safety concerns
- And more.
These consequences can severely damage your business or investment portfolio. It is essential to collaborate with professionals trained to prevent such risks. At Zoned Properties, we connect you with compliant properties and go the extra mile to provide properties that support and foster a successful business.
Whether you’re interested in dispensaries, cultivation facilities, production operations, or testing laboratories, our team of experts will ensure that your investment delivers maximum value and returns.
Site Identification
Let us help you find suitable areas that are compliant and conducive to business growth. Our team of experts will carefully assess properties, ensuring they meet all necessary regulations, have access to the market, are accepted by the community, and are ready for your Cannabis business.
Brokerage
Our brokers have established strong connections with attorneys, lenders, contractors, and consultants, guaranteeing you access to the best real estate deals for Cannabis businesses. Whether you’re looking for retail properties or cultivation facilities, we simplify and expedite the process.
Investment
Recognizing your desire to invest in Cannabis real estate where the odds are in your favor and the return on investment is highly appealing, we offer a diverse portfolio of lucrative properties. You’ll find numerous opportunities to invest and achieve satisfying returns in our collection of Cannabis real estate assets.
Ready To Invest In Cannabis Real Estate In WV?
Investing in Cannabis real estate in West Virginia offers promising opportunities. The sector’s growth and established regulations provide stable long-term ROI and potential appreciation. Now is the perfect time to explore this lucrative investment avenue. Partner with our experts for the best Cannabis real estate deals today!
West Virginia Cannabis Regulations
State Cannabis Overview: Between 2010 and 2015, there were attempts to introduce medical cannabis bills in West Virginia, but they failed. In 2017, Senate Bill 386 was passed, which legalized medical cannabis for specific chronic conditions. The governor signed it into law in April 2017, but it took until July 2018 to take effect.
However, it wasn’t until July 1, 2019, that the state could issue patient and caregiver identification cards for obtaining medical cannabis.
Since then, more than thirty thousand patients have applied for a card, and over twenty-five thousand of those have been approved. The Cannabis industry in West Virginia has sold more than one million units and made up to $56.5 million in medical Cannabis sales.
Licensing: The West Virginia state has been issuing licenses since 2019, and since then, 68 Cannabis businesses have been approved to function. The state gives only three types of Cannabis business licenses: retail (dispensary), processors, and growers.
West Virginia is a limited license state, promising only 120 licenses to be shared among the three types of businesses permitted to operate within the state. 100 of those permits will go to dispensary businesses, 10 to processors, and the rest to growers.
Local Authority: In West Virginia, local authorities can exercise some control over the cannabis market within their jurisdictions. While the state has legalized medical cannabis, the law allows local governments to regulate certain aspects of its implementation and operation.
Local authorities can establish zoning regulations determining where cannabis-related businesses, such as dispensaries or cultivation facilities, can be located. They can also enact ordinances that address issues like operating hours, security requirements, and other specific guidelines for cannabis establishments.
Send us a message today or call: 18773608839 and let’s help you locate green zones for your Cannabis business.
Median Age: 42.7 years
Median Income: $26,187
Regulations last updated as of: August 2023
Have any Questions?
How much is a dispensary license in West Virginia?
Dispensary licenses in West Virginia can range from $5,000 to $10,000, depending on the type of business. Below is a breakdown of the fees.
- Cultivation License: Application fee – $10,000, Annual license fee – $50,000
- Processing License: Application fee – $10,000, Annual license fee – $50,000
- Dispensary License: Application fee – $10,000, Annual license fee – $10,000
How big is the Cannabis Market in West Virginia?
Considering that the state only launched its first medical Cannabis sales around four years ago, West Virginia is doing reasonably well. The state has earned more than $56 million in total Cannabis sales and supports more than 2,000 jobs directly and indirectly.
More and more patients are accepting the use of Cannabis for treatment and are applying for Cannabis cards. More than 25,000 patients have been approved to use Cannabis, and 5,000 more are in the pipeline.
The future of the Cannabis industry in West Virginia is promising and will be even more so once recreational Cannabis is legalized.
What Cannabis companies are in West Virginia?
There are more than 60 Cannabis businesses in West Virginia, some of which you may know from other states. Below is a list of some of the notable ones.
- Harvest Health & Recreation
- Columbia Care
- Zen Leaf
- TerraLeaf
- Greenlight
- Cannabist
- The Orchard Dispensary
- Trulieve
- Appalachian Medical Cannabis
- Verdant Creations
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_West_Virginia
https://omc.wv.gov/industry/Documents/OMC%20Stat%20Sheet.pdf (total sales and total number of operational dispensary licenses)
https://canndelta.com/us/west-virginia/#:~:text=The%20state%20has%20a%20limited,authorized%20under%20the%20current%20law.&text=The%20types%20of%20licenses%20available,%2C%20processing%2C%20and%20dispensary%20licenses.
https://omc.wv.gov/rules/Pages/default.aspx#:~:text=The%20West%20Virginia%20Department%20of,medical%20cannabis%20in%20West%20Virginia.
https://omc.wv.gov/Pages/default.aspx
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