One of the main differences between NM and other states is that cities and locales cannot opt out of allowing marijuana businesses in their jurisdiction. In other states, like NY for example, municipalities can vote on whether they want to let cannabis cultivators or dispensaries operate within their borders. In NM you can open a dispensary in any city, as long as you find a landlord or commercial real estate owner that’s willing to do business with you.
Of course there are still limits and regulations about where your business can be. You are not allowed to open a cannabis retail business within too close of a radius to certain types of buildings. NM statute states the following:
A local jurisdiction may: limit the location of a cannabis establishment …as determined by the local jurisdiction, but which distance shall be three hundred feet or more from the perimeter of school grounds on which instruction is provided at any level from kindergarten through twelfth grade, a playground, a child care center, a youth center, a public park or a library that was in existence at the time the cannabis establishment was licensed.
In addition, there are laws concerning how close in proximity dispensaries can be to other dispensaries. The city of Clovis, for example, prohibits retail cannabis establishments from being within 500 feet of each other. While these regulations still leave a lot of room open for real estate scouting, stay aware of them when choosing your dispensary location.
Generally, a successful marijuana retail business demands ample square footage. You’re going to need at least one vault, storage rooms, security check in, showroom floor, and in a place like New Mexico, a parking lot. Keep this in mind when considering real estate prospects.