Investment Overview

Marcus & Millichap is delighted to introduce the opportunity to acquire 200 Northwestern Ave in Del Rio, California. This 3.30-acre divisible parcel is situated adjacent to Highway 101 in the Mid-County area of Humboldt County. The property boasts General Commercial Industrial (IC) zoning and has undergone extensive redevelopment efforts, including the installation of utilities, sidewalks, 3-Phase/1,600 AMP power, and significant progress on a 14,400 SF two-story building. This project provides the new buyer with the flexibility to complete the existing building with their preferred finishes while utilizing the remaining land for outdoor storage. Additionally, there is potential to add two more buildings to create an industrial business park on the site. Furthermore, the ownership holds a full Conditional Use Permit (CUP) for Cannabis Cultivation, Manufacturing, and Distribution at this location. Humboldt County, renowned as California’s premier cannabis producer, has experienced exponential growth in its cannabis industry since full legalization. Projections indicate that California will generate an impressive $5.1 billion in revenue in the coming year. Over the past four decades of cannabis farming, a well-established supply chain for organically derived cannabis exclusively cultivated within the Humboldt County Heartland has emerged. This area is estimated to be the largest cannabis cultivation region in the United States. In fact, according to federal estimates from 2015, approximately 70% of all cannabis consumed in the US originates from either the Emerald County region or the Humboldt County Heartland in California. In addition, an appraisal conducted in September 2022 has evaluated the property as-is, placing its value at an impressive $6 million. This property offers an excellent prospect for both investors and owner-users in a highly desirable market. For more information, please contact Marcus & Millichap Brokers.