Morongo Business Park is a master planned Cannabis Business Park located in the light industrial district of the City of Desert Hot Springs, CA. At full build-out it will feature over 200,000 SF of cannabis cultivation, manufacturing, processing, distribution and non-storefront delivery. Phase 3 has an approved Conditional Use Permit (CUP 21-17) for 136,174 square foot building which meets all requirements for CA state cannabis business licensing. Being the first city in the State of California to allow recreational cannabis operations, Desert Hot Springs is one of the most Cannabis Business Friendly environments in California. The city has recently reduced their cultivation tax and have also eliminated city manufacturing tax. Call listing office for complete due diligence package.
Why is investing in an Opportunity Zone better than a 1031 Exchange?
Temporary Deferral: Similar to a 1031 Exchange.
Step-up in Basis: After 5 years capital gains basis is increased by 10% and by an additional 5% if held for at least 7 years, thereby excluding up to 15% of the original gain from taxation. Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income
Permanent Exclusion: After 10 years the capital gains are permanently excluded from taxable income.
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warrant or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions assumptions or estimates used are for example only, and do not represent the current or future performance of the property. ref: 02/06/23 JC