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162 Heritage Dr 1,721 SF Retail Building Negaunee, MI 49866 $1,056,014 CAD ($613.60 CAD/SF) 9% Cap Rate
INVESTMENT HIGHLIGHTS
- Highway Exposure
- 2% Annual Increases
- Established Operator with 10 Locations
EXECUTIVE SUMMARY
Founded in 2019 as the first recreational dispensary in Michigan’s Upper Peninsula, The Fire Station has expanded to 10 operating locations with additional stores in development, including its first in Lower Michigan. Locally owned and family operated, The Fire Station has built an outstanding reputation for premium service and consistent growth.
The building totals 1,721 square feet and sits on 1.61 acres. The Fire Station is offering 2% annual rent increases and zero landlord responsibilities, ensuring predictable, hands-off income. With a negotiable lease term and highly visible location on US 41, this property combines stability, strong tenancy, and long-term growth potential. An ideal opportunity for investors seeking a reliable asset or completing a 1031 exchange.
Please Note: The Fire Station Cannabis Co. is not for sale and will continue to operate as the tenant in the event of a building sale.
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- -
- Triple Net
- -
Established in Upper Michigan in October of 2019, The Fire Station was the second medical marijuana facility to open in the Upper Peninsula. The Fire Station’s Negaunee location became the first Upper Peninsula, MI recreational facility in November 2019, and was approved for delivery services in March 2020. Now headquartered in Downtown Marquette, The Fire Station is committed to being the premier cannabis destination across the U.P. They provide customers with high quality-cannabis products, education, and exceptional customer service. The Fire Station is U.P. owned and operated and dedicated to serving their local communities — first and foremost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | - | Triple Net | - |
PROPERTY TAXES
| Parcel Number | 52-10-128-020-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $262,852 CAD |
PROPERTY TAXES
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162 Heritage Dr
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