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The Fire Station Cannabis Co. 3101 10th St 5,080 SF 100% Leased 4-Star Retail Building Menominee, MI 49858 $5,377,866 CAD ($1,058.64 CAD/SF) 9.50% Cap Rate
Investment Highlights
- 15-Year Absolute NNN Lease
- Top-Performing Location & Corporate Guaranty
- Strong Regional Draw Within 60 Miles
- Favorable Increases
- Large 1.65-Acre Parcel
- Countless Outdoor Recreational Activities
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase the fee-simple interest in a Fire Station ("Fire Station") dispensary located in Menominee, MI (“The Property”). The Property consists of a 5,080 square foot freestanding retail building on a 1.65-acre parcel of land. The Property was built in 2024. Fire Station will operate under a brand new fifteen (15) year Absolute NNN lease with zero landlord responsibilities and preferred 10% rental escalations every 5 years during the base term.
Property Facts
Sale Type
Investment NNN
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,080 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2024
Price
$5,377,866 CAD
Price Per SF
$1,058.64 CAD
Cap Rate
9.50%
NOI
$510,897 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.07
Lot Size
1.65 AC
Zoning
C-1 - Commercial
Frontage
150’ on 10th Street
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 051-032-790-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $718,938 CAD |
Property Taxes
Parcel Number
051-032-790-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$718,938 CAD
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The Fire Station Cannabis Co. | 3101 10th St
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