Individually Owned Property summary
This exceptional investment opportunity presents a 2,050-square-foot, single-tenant net-leased Meds Café cannabis dispensary in Cheboygan, MI. Located on North Main Street, a high-traffic thoroughfare (7,700+ vehicles per day), this property benefits from a prime location amongst national retailers like Dairy Queen, H&R Block, and more. The dispensary, renovated in 2021, occupies a 0.38-acre lot and boasts strong sales, representing the best-performing location within the Meds Café chain's… seven Michigan stores. The current lease, commencing June 6, 2023, and expiring May 31, 2033, offers a remaining term of 8.5 years with two 5-year renewal options and a significant 12.5% rent increase every five years. The property features a roof warranty extending to November 2035. The strong tenant, Meds Café, is a well-established cannabis dispensary offering a diverse range of products. The limited number of dispensary licenses issued by the Michigan Marijuana Regulatory Agency (MRA) ensures reduced competition. The area's demographics are favorable, with an average household income within a ten-mile radius exceeding $75,869, and a population exceeding 12,700 residents. This property offers a compelling 9.75% cap rate and a substantial net operating income (NOI) of $120,000, making it an attractive addition to any investment portfolio. The asking price is $1,230,769.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2023
Value estimate
· Sep 2026Realmo valuation models over county records.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 6 properties nearbyComparable nearby
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- Lot area
- 0.38 ac
- APN
- 054-H20-000-031-00
- Assessed value · 2024
- $167,400
- Annual tax · 2023
- $7,146
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Local Zoning Insight
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- Local Zoning Insight
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- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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