Property Description
Listing #5225
Asking Price: $3,800,000
WeCann is pleased to present a rare and highly strategic cannabis retail opportunity in the thriving Rochester market, Minnesota’s largest city near the Wisconsin and Iowa borders and a major regional commerce hub. This exclusive offering pairs a standard State of Minnesota Micro-business license approval with state and local preliminary approvals secured specifically to support a cannabis retail-forward operation, together with a 7,500 SF standalone commercial building on approximately 70,000 SF of M-1 zoned land.
In a marketplace where many licenses for sale lack real estate and municipal approvals, this asset provides a secure, buildout-ready pathway to final licensure and operations, making it one of the most compelling entry points into Minnesota’s adult-use industry.
WHY THIS AREA IS ONE OF MINNESOTA’S STRONGEST RETAIL MARKETS
Rochester is the closest major Minnesota city to both Wisconsin and Iowa—states with no adult-use legalization (and only limited medical cannabis in Iowa). This positions the site to capture significant cross-border demand.
Strong Demographics & Local Economy
- City Population: ~121,000
- County Population: ~168,000
- Rochester represents over 70% of the county’s residents
- Household incomes exceed Minnesota’s statewide average
- Serves as the regional shopping, medical, and commercial hub for Southeast MN, Northern IA, and Southwest WI
Nearby National & Big-Box Retailers (Within Approx. 5-Mile Trade Area)
- Target – 0.3 miles away
- The Home Depot – 0.4 miles away
- Sam’s Club – 1.1 miles away
- Hy-Vee – 1.6 miles away
- Costco Wholesale – 2.6 miles away
- Menards – 3.3 miles away
- Mayo Clinic – 4.2 miles away
- Rochester is home to the world-renowned Mayo Clinic, the city’s largest employer and a global medical destination that draws patients, visitors, and professionals from across Minnesota and neighboring states year-round, driving consistent regional traffic and strengthening the local economy.
LICENSING, APPROVALS & OPERATIONAL ADVANTAGES
This opportunity stands out sharply from other Minnesota listings that offer only a license—often without real estate, zoning compatibility, or municipal approval.
Limited Local Registrations – Rare County Position
Olmsted County has limited cannabis retail registrations. There are 14 total local registrations countywide, allocated as:
- 8 Micro-businesses
- 4 Retailers
- 2 Mezzo-businesses
This asset holds one of only eight available Micro-business registrations in the county, underscoring the scarcity and strategic value of this location.
Preliminary State & Local Approvals Already Secured
The property already holds its preliminary state and county approvals under Minnesota’s standard Micro-business framework, with municipal authorization granted specifically with cannabis retail identified as the primary intended use of the site. This confirms regulatory alignment and clears major barriers that typically delay or derail cannabis projects.
Lottery-Based Local Authorization (Removes Competitive Pressure)
Olmsted County used a lottery-ball system to select local operators, which provides a significant advantage:
- Operators do not need to race competitors to complete a buildout in order to secure a local authorization
- The local approval is already awarded, providing certainty and reducing execution risk
- Unlike other MN municipalities where speed determines eligibility, this site allows operators to build strategically and correctly, not hurriedly
Micro-business Licensing Flexibility
- Approved as a standard Minnesota Micro-business license, with no special or non-conforming conditions (NOT social equity)
- The municipal approval was secured with retail as the primary operational focus
- The approval may be adapted to Micro, Mezzo, or State Retail licensing, subject to county approval
Clear Development Timeline
- Operator has 6 months (through April 7, 2026) to open
- A 90-day extension may be granted
Together, these factors create one of the cleanest, lowest-risk, and most operationally streamlined cannabis retail-first opportunities in Minnesota.
MINNESOTA MICRO-BUSINESS OVERVIEW & OPERATIONAL FLEXIBILITY
Under Minnesota law, a cannabis Micro-business license offers one of the most flexible operating structures in the state. With the appropriate endorsements, a single Micro-business may:
- Cultivate cannabis (indoor or outdoor within statutory limits)
- Manufacture cannabis concentrates and infused products
- Produce cannabis products and lower-potency hemp edibles
- Package and label cannabis products
- Operate one retail dispensary location
- Offer limited on-site consumption areas for edible cannabis products (no flower), along with non-alcoholic food, beverages, and entertainment
Current statutory minimums include:
- Up to 5,000 SF of indoor cultivation canopy, or
- Up to ½ acre of outdoor cultivation
- Manufacturing volumes tied to allowable cultivation capacity
The Office of Cannabis Management may expand these limits over time (but may not reduce them), allowing for future scalability. A Micro-business licensee may hold only one Micro-business license and may not operate additional cannabis businesses.
PROPERTY HIGHLIGHTS:
- Building Size: Approx. 7,500 SF
- Lot Size: Approx. 70,000 SF (~1.6 acres)
- Zoning: M-1, compatible with cannabis retail
- Format: Standalone, single-tenant building
- Current Use: Bar/restaurant operating on a month-to-month lease
- The existing restaurant tenant has operated at this location since 1998, driving consistent traffic to the site for nearly 28 years
- Traffic Counts:
- 41st St NW: 19,432
- HWY 52: ~54,000
- Traffic Counts:
- Parking: Excellent on-site parking, well-suited for high-volume retail
- Trade Area: Located in Rochester’s primary north retail trade area with full signalized access and strong visibility from US-52 and 41st Street, an established big-box and daily-needs retail node.
PRICING & TERMS
Asking Price – Local & State Preliminary Approvals
- $700,000
Asking Price – Real Property
- $3,100,000
- Equivalent to approximately $413 per SF (based on 7,500 SF)
Combined Offering Price
- $3,800,000
Seller Financing Available
Seller financing is available, with terms to be discussed based on buyer qualifications and structure.
Ownership transfer will be completed in full accordance with state and local laws.
Leaseback Option (If Desired by Buyer)
The Seller prefers to sell the property, but is open to a leaseback structure, under which:
- Lease Rate: $48.53 per SF annually
- Monthly equivalent: $4.04 per SF (approximately $30,000/month for the full building)
- Seller is willing to lease only half of the building at the same per-SF rental rate if an incoming operator prefers a smaller footprint.
This opportunity is co-brokered with Latitude Real Estate Advisors – Todd Braufman and Michael Sedley – Brokers # 20594493
Meilad Rafiei – License# 01527304 – WeCann
