Cannabis regulatory and zoning dependence
Properties are valuable only if local rules allow cannabis use and leasing.
- Scope
- Licensed dispensary, cultivation, and processing sites
- Materiality
- high
Zoned Properties, Inc.
Zoned Properties, Inc. is a U.S.-based real estate company focused on acquiring, developing, leasing, and managing commercial properties used by licensed cannabis operators. The company also provides real estate advisory, brokerage, and technology services tied to regulated cannabis real estate, with its headquarters in Scottsdale, Arizona.
−36,8 %
−68,9 %
+9,2 %
| % | |
|---|---|
| Property Investment Portfolio | 79% Owned and leased commercial properties used by regulated cannabis tenants. |
| Real Estate Services | 21% Advisory, brokerage, commissions, and assignment fees related to cannabis real estate. |
Zoned Properties serves licensed and regulated cannabis operators that need compliant retail, cultivation, processing,...
- Licensed cannabis retailersprimary
Lease dispensary properties in regulated markets because compliant retail sites are scarce and valuable.
- Cannabis cultivation and processing operatorssecondary
Lease specialized facilities for cultivation and processing where zoning and permitting are required.
- Medical and adult-use dispensary developerssecondary
Use future-dispensary sites and development expertise to secure regulated retail locations.
- Real estate advisory and brokerage clientssecondary
Buy advisory, commission, and assignment services for cannabis-related property transactions.
The company is focused on the United States, where regulated cannabis real estate is governed by state and local zoning...
- •United States is the core operating market
- •Properties are located in regulated cannabis states
- •Chicago, IL and Surprise, AZ were cited as recent property markets
- •Scottsdale, AZ is the company headquarters
- •State and local zoning rules shape site selection and leasing
Zoned Properties focuses on acquiring value-add commercial real estate in regulated cannabis markets and securing...
01
Expand the regulated cannabis property portfoliomedium-term
More leased sites can increase recurring rental exposure in compliant markets.
02
Concentrate on direct-to-consumer retail real estatemedium-term
Retail sites can be more strategically valuable than legacy cultivation assets.
03
Grow real estate services alongside owned assetsshort-term
Advisory and brokerage services diversify revenue beyond rental income.
04
Evaluate legacy cultivation properties for capital recyclingmedium-term
Selling or leveraging non-core assets can free capital for new investments.
The business depends on cannabis regulation, zoning approvals, and tenant compliance, so changes in state or local...
Tenant and lease concentration
Rental income depends on a limited number of regulated cannabis tenants.
- Scope
- Seven-property portfolio
- Materiality
- high
Property impairment and valuation risk
Commercial real estate values can change with market demand, zoning, and tenant quality.
- Scope
- Owned rental properties
- Materiality
- high
Interest rate and derivative exposure
Debt and hedging costs can affect cash flow and reported fair values.
- Scope
- Interest rate swap agreement
- Materiality
- medium
Rental property impairment
Can reduce asset values and create non-cash charges
Allowance for accounts receivable
Affects net revenue and working capital
Interest rate swap fair value
Can create earnings volatility
Equity transaction valuation
Impacts non-cash charges and equity balances
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: 29/04/2026