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Negaunee,MI 49866
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 1,721 sqft
Price per Sqft $439
Subdivision Mi
MLS Listing ID 50188625
Annual Tax Amount $8,071
Tax Year 2024
Lot Size 1.610 Acres
Acres 1.61
Lot Dimensions 432x121x432x200
Property Sub-Type Commercial/Industrial
Property Description
Excellent investment opportunity in Negaunee, Michigan. This fully renovated commercial property delivers a secure 9% CAP rate with The Fire Station Cannabis Co. as the long term tenant under an absolute NNN lease. 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.
Location
State MI
County Marquette
Area Negaunee Twp (52020)
Zoning Commercial
Interior
Heating Forced Air
Cooling Central A/C
Exterior
Parking Features 21+ Spaces
Roof Type Shingles
Building
Foundation Basement,Crawl
Water Public Water
Structure Type Vinyl Siding
Others
Ownership LLC
SqFt Source Plans
Energy Description Natural Gas
Financing Cash,Commercial Loan