# Zoned Properties, Inc. > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/en/companies/Zoned Properties, Inc.). ## Overview 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. ## Products & services • Property investment portfolio: acquire, develop, lease, manage • Cannabis retail dispensary real estate • Cannabis cultivation and processing facility real estate • Real estate advisory services • Commercial real estate brokerage • Property technology services - **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. - Property investment portfolio: acquire, develop, lease, manage - Cannabis retail dispensary real estate - Cannabis cultivation and processing facility real estate - Real estate advisory services - Commercial real estate brokerage - Property technology services ## Customers Zoned Properties serves licensed and regulated cannabis operators that need compliant retail, cultivation, processing, or future dispensary sites. It also serves property owners, investors, and market participants who use its advisory and brokerage services for cannabis-related commercial real estate transactions. - **Licensed cannabis retailers** (primary) — Lease dispensary properties in regulated markets because compliant retail sites are scarce and valuable. - **Cannabis cultivation and processing operators** (secondary) — Lease specialized facilities for cultivation and processing where zoning and permitting are required. - **Medical and adult-use dispensary developers** (secondary) — Use future-dispensary sites and development expertise to secure regulated retail locations. - **Real estate advisory and brokerage clients** (secondary) — Buy advisory, commission, and assignment services for cannabis-related property transactions. - Licensed cannabis retailers leasing dispensary locations - Cannabis cultivation and processing operators - Medical and adult-use cannabis tenants - Property owners seeking zoning or development solutions - Real estate clients needing advisory or brokerage support ## Geography The company is focused on the United States, where regulated cannabis real estate is governed by state and local zoning rules. Its portfolio includes properties in markets such as Chicago, Illinois and Surprise, Arizona, and it targets state markets with established cannabis consumer demand and permitting frameworks. - 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 ## Strategy Zoned Properties focuses on acquiring value-add commercial real estate in regulated cannabis markets and securing long-term absolute-net leases with licensed tenants. Its strategy emphasizes direct-to-consumer properties in state markets with strong cannabis demand, while using advisory and brokerage capabilities to support the broader real estate platform. - **Expand the regulated cannabis property portfolio** (medium-term) — More leased sites can increase recurring rental exposure in compliant markets. - **Concentrate on direct-to-consumer retail real estate** (medium-term) — Retail sites can be more strategically valuable than legacy cultivation assets. - **Grow real estate services alongside owned assets** (short-term) — Advisory and brokerage services diversify revenue beyond rental income. - **Evaluate legacy cultivation properties for capital recycling** (medium-term) — Selling or leveraging non-core assets can free capital for new investments. - Acquire value-add properties with zoning or development complexity - Lease to licensed cannabis operators under long-term net leases - Focus on direct-to-consumer retail sites in strong demand markets - Use brokerage and advisory services to broaden the platform - Consider monetizing legacy cultivation assets to unlock capital ## Risks The business depends on cannabis regulation, zoning approvals, and tenant compliance, so changes in state or local rules can affect occupancy and property value. It also faces real estate-specific risks such as tenant concentration, lease rollover, property impairment, and valuation uncertainty, while its smaller scale can amplify financing and execution risk. - **Cannabis regulatory and zoning dependence** [high] — Properties are valuable only if local rules allow cannabis use and leasing. - **Tenant and lease concentration** [high] — Rental income depends on a limited number of regulated cannabis tenants. - **Property impairment and valuation risk** [medium] — Commercial real estate values can change with market demand, zoning, and tenant quality. - **Interest rate and derivative exposure** [medium] — Debt and hedging costs can affect cash flow and reported fair values. - Cannabis regulation and zoning changes can affect site usability - Tenant compliance risk is elevated in a regulated industry - Property impairment risk if leased assets lose value - Interest rate and financing risk affect property economics - Small scale can limit diversification and execution capacity ## Accounting Key accounting judgments include rental property impairment, allowance for accounts receivable, and fair value measurement of the interest rate swap. Because the company uses leased real estate and derivative instruments, changes in estimates can move reported assets, liabilities, and earnings even when underlying cash flows are stable. - **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 - Rental property impairment affects carrying value and earnings - Allowance for accounts receivable affects collectability estimates - Interest rate swap fair value runs through income - Equity transaction valuation can affect reported results - Lease and rental accounting affect revenue timing --- *Last updated: 2026-04-29T05:11:50.129897+00:00*