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Zoned Properties Inc

zonedproperties.com

What Do They Do?

Acquires and leases commercial properties for regulated-cannabis operators, and provides advisory, brokerage and property technology services to clients working on regulated properties.

How Do They Make Money?

Tenants pay fixed monthly base rent, sometimes with annual increases, under property leases. Advisory clients pay when services are performed; brokerage clients pay commissions when a lease begins, a property sale closes, or another agreed event occurs.

revenue
SegmentShareRevenue
Property investment portfolio revenues
Recurring

74%
Real estate services revenues
Sold outright

26%

Who Are Their Customers?

Licensed cannabis operators lease the company's properties; clients seeking help with regulated properties use its advisory and brokerage services under consulting agreements.

Do Revenues Turn Into Profits?

No. It lost $2.9M in FY2025.

Operating income, FY2025
−46% of revenue
▼ Now a loss vs FY2024 ($1.1M, 29%)
Net income, FY2025
−69% of revenue
▼ Now a loss vs FY2024 ($574K, 15%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▼ −17%
vs $937.8K in Q2 FY2025
Net income
▲ +180%
vs $26.3K in Q2 FY2025
Property investment portfolio revenues share of revenue vs 80.8% in Q2 FY2025
  • Sep 4, 2026 Chino property sale closed
  • Aug 18, 2026 Amended Chino sale terms; Green Valley and Kingman sales closed The Chino purchase price was reduced, while the Green Valley and Kingman property sales had already closed.
  • May 5, 2026 Sold the Woodward property and assigned its lease and land-contract interests The buyer assumed related obligations under the assigned agreements.

Growing. Revenue grew 2.3x in 4 years, from $1.8M in FY2021 to $4.1M in FY2025, about 23% a year.

Revenue over time
Property investment portfolio revenues Real estate services revenues
$5M$2.5M$0

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