While Colorado has a legal framework for the cannabis industry it's still illegal under federal laws. So, there's a lot of regualtory due dilligence to be done. We always suggest speaking with a local attorney that specializes in the industry. There are regulations and recent case law that gives guidance to proper, compliant investment strategies.
Here's some general items to consider;
Prices are high and good buildings sell very quickly. Plenty of buyers out there.
Good growing operations can be extremely profitable for the growers
Rents 'average' $15- psf, nnn depending on any existng build out or improvements
Rent cannot be 'Paid in Kind' from the production or products being grown
Tenants will usually pay their rent in cash direct to your bank
Tenants generally will not rent a building with a loan or encumberance attached
Buildings cannot have a commercial loan as banks are forbiden from the industry
Hard money lenders have a very high rate of failing to fund at the last minute
Insurance is available for the building and the tenants would pay for it
As a landlord you do not have any direct regualtory requirements or restrictions
Existing businesses often sell for a 12+ cap rate
Don't buy a business that's based on a 'leased' property - many potential issues
Be sure to consult with a specialist attorney to keep everything fully compliant