Maryland is soon to open for more cannabis retail licenses in the near future

CannDev In Maryland

Maryland is one of the newest (July 2023) adult-use states in the USA. They currently (as of Dec 2023) have 101 approved retail dispensary locations. They opened for 75 more retail licenses under a lottery system and will be announcing the next wave of winners January 2024. 

Real estate was not required for the applications and we are expecting many of the winning groups to be competing for the best locations with the highest revenue potential. 

CannDev is currently working hard in Maryland to identify and secure compliant retail locations in the cities with the most opportunity for strong revenues. There are many opportunity areas that are underserved or located nearby borders where populations from neighboring states can purchase adult-use cannabis.

Among the 980 applications for standard and micro dispensaries, a significant 716 applications are for standard dispensaries.

Top Locations for Dispensaries:

Montgomery County led with 104 applications, followed by Prince George’s County (99), Baltimore County (83), Baltimore City (72), and Anne Arundel (71).

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How many cities allow for cannabis retail?

All jurisdictions in Maryland are opted into the adult-use program. However, jurisdictions may adopt ordinance reducing distance requirements.

State Buffers: school (primary or secondary), 500; daycare, 500; playground, 500; recreation center, 500; library, 500; public park, 500, cannabis dispensary, 1000

How big is the market in Maryland?

Maryland has a population just north of 6 million people. 

Maryland, is on pace to eclipse $325 million in adult-use sales in 2023, despite dispensaries only serving adult-use customers for six months since the state’s July 1 launch. This is in addition to roughly $450 million in medical sales for the full year. 

Shoppers from Pennsylvania, Virginia and West Virginia, among other states without recreational retail, have contributed to rising sales.

When do applications open?

Applications in Maryland closed in 2023 for the next wave of licenses. Lottery winners will be announced early 2024. 

How many licenses are available?

Maryland is going to awarded 75 state retail licenses in the next wave of licenses. 

Will real estate be required?

No, real estate was not required for the recent applications which were a social equity round. The state was looking to eliminate barriers to entry for small businesses, such as property requirements, high application fees, and competitive scoring applications. However, when winners are announced real estate will be the next step for licenses winners to activate their store.

Please sign up for our to be included in our alerts where you can get first look at new real estate opportunities in Maryland.

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As you know, new markets around the country are opening up at a rapid pace.

This creates enormous opportunity for those who can be the first to plant a flag in a new city and secure a ‘first mover advantage.’

We’re currently securing compliant retail real estate in many markets throughout the USA.