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Posted / Broker

The Fire Station Cannabis Co. Dispensary

229 North 4th Avenue, Iron River, MI 49935

$1,768,240

Cap Rate 10.00%

DOM: 6 Updated: 01.22.26 Posted: 01.22.26 Status: Active     01.22.26

Summary

Price $1,768,240
Built/Renov 2025
Tenant The Fire Station Cannabis Co. Dispensary
Cap Rate 10.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 3,867
Lease Start 03-01-2026
#Units 10
Price/SF $457.26
Expiration 02-28-2041
Tenant Type General Retail
NOI $176,824
R. Term 15.1
Ownership Fee Simple
Rent/SF $45.73
Increases 2.5%/1/yrs
Pop 5Mi 6,170
Lot/AC 0.48
Options 2/5yrs/2%
AHHI 5Mi $69,096

Christian Tremblay
Northmarq
Contact

Isaiah Harf
Northmarq
Contact

Blaise Bennett
Northmarq
Contact

Highlights

  • 15-Year Absolute NNN lease with no landlord responsibilities
  • Outstanding 2.5% Annual Rent Growth
  • Property presents rare mixed-use opportunity, combining retail and residential uses within a single site
  • Growing Cannabis Company has 10 locations
  • Corporate guarantee with established operator and strong sales

Location Description

*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" data-scroll-anchor="true" data-testid="conversation-turn-8" data-turn="assistant" data-turn-id="request-WEB:395a787f-833f-471a-8e90-26bc2736a4e6-3" dir="auto" tabindex="-1"> The Fire Station Cannabis Co. Dispensary is strategically located on North 4th Avenue in Iron River, offering...

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Key Features

  • New construction

  • Near major nationals

  • Highway close

  • Brand new lease

  • Long 15+ yr lease

  • Store sales reported

  • Absolute NNN

  • Annual rent increases

  • Corporate Guarantee

    • ...

Links

The Fire Station Cannabis Co. Dispensary Wikipedia Iron River, MI Zip Code 49935 Broker site page

Documents

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

​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...


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Listing Broker

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