Log In/Sign Up
Your email has been sent.
Fire Station Cannabis Co. 507 N Lake St 3,850 SF Retail Building Ironwood, MI 49938 $3,474,223 CAD ($902.40 CAD/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Outstanding Annual Rent Growth
- Excellent Access & Visibility
- Established Cannabis Operator
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase the fee simple interest in a new Fire Station ("Fire Station") dispensary located in Ironwood, MI (“The Property”). The Property consists of a 3,850-square-foot freestanding retail building on a 0.73 acre parcel of land. The Property was built in 2024 and features a drive-thru. Fire Station will operate under a brand new fifteen (15) year absolute NNN lease with zero landlord responsibilities and preferred 2.5% annual rental escalations during the base term. Fire Station Cannabis Co. was established in October of 2019 in Upper Michigan as the 2nd medical marijuana facility and 1st licensed Upper Peninsula recreational retailer. The Fire Station Cannabis Co. has quickly become a household name in Michigan's Upper Peninsula. Renowned for its quality products and exceptional customer service, they are a premier cannabis dispensary committed to professionalism and regulatory compliance.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Building Size
3,850 SF
Building Class
B
Year Built
2024
Price
$3,474,223 CAD
Price Per SF
$902.40 CAD
Cap Rate
9.50%
NOI
$330,003 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.73 AC
Opportunity Zone
Yes
Zoning
C-3
Frontage
180’ on Lake St
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 52-22-226-200 | Improvements Assessment | $198,428 CAD |
| Land Assessment | $4,296 CAD | Total Assessment | $202,724 CAD |
PROPERTY TAXES
Parcel Number
52-22-226-200
Land Assessment
$4,296 CAD
Improvements Assessment
$198,428 CAD
Total Assessment
$202,724 CAD
1 of 2
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
Fire Station Cannabis Co. | 507 N Lake St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.