Here's Why Innovative Industrial Properties Could Double in Value By 2030

Innovative Industrial Properties (NYSE: IIPR) is my favorite cannabis stock because of its highly stable yet profitable business model. By buying indoor cultivation space from marijuana companies that need cash and then leasing the properties back to the sellers immediately, Innovative Industrial Properties is constantly building a larger and larger hoard of commercial rental income.

IIP's market cap is nearly $6 billion today. I'm of the opinion that it will have no trouble reaching at least $12 billion in value before 2030. Let's walk through its business model and then do a few quick calculations to see why I'm so confident in this stock.

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Source Fool.com