Asking Price: $2,400,000

WeCann is pleased to present a strategically positioned cannabis Micro-business opportunity in Winona, Minnesota, a city uniquely located along the Mississippi River with direct access to Wisconsin and major regional travel corridors. This offering includes state preliminary approval and local approval (NOT SOCIAL EQUITY), allowing the buyer to commence construction. Once the operator completes the required buildout and passes final inspections, final approvals will be issued and operations may begin.

With strong regional traffic, compelling border dynamics, limited compliant real estate availability, and established retail adjacencies, this opportunity represents one of the cleanest and most commercially strategic entries into Minnesota’s adult-use cannabis market.

PROPERTY HIGHLIGHTS
-Building Size: Approximately 4,100 SF
-Configuration: Free-standing, single-tenant commercial building
-Parking: Ample on-site parking suitable for retail operations
-Location Context: Near the Wisconsin border with strong vehicle traffic and highway accessibility

     -Traffic Count on Pelzer St: 11,288
     -Traffic Count on Great River Rd: 12,341

-Current Use: Longstanding (35 years), locally recognized restaurant with historic customer draw.

-Approvals:

     -State preliminary Micro-business approval granted
     -Local approval granted authorizing construction
     -Final approvals issued upon successful buildout and inspections

State Operational Timeline
-Deadline to commence operations: December 2, 2026
-Extensions are available subject to state approval, providing flexibility for construction timelines, financing, and phased development

WHY THIS AREA IS A STRONG RETAIL LOCATION
-Immediate proximity to Wisconsin, approximately 6 miles (10-minute drive) from the state line
-Bordering state of Wisconsin prohibits both medical and adult-use cannabis, driving sustained cross-border consumer demand
-Proven performance in similar border markets, including Illinois–Wisconsin, Michigan–Indiana/Wisconsin, and Colorado–Kansas/Nebraska
-Border-state retailers historically experience higher sales volumes, stronger foot traffic, and faster returns on investment
-Regional economic hub for healthcare, education, employment, and commerce
-Household incomes trend higher than many comparable Minnesota markets
-Diverse and consistent demand supported by nearby residential areas, hotels, major employers, and retail centers
-Excellent regional connectivity with immediate access to Highways 14 and 61, supporting local and out-of-state traffic
-No local license caps, yet competition remains limited due to extremely restrictive buffer requirements
-Buffer zones significantly reduce the number of eligible properties, making compliant sites difficult to secure
-Early control of an approved site provides a durable competitive advantage in an otherwise constrained retail landscape

Winona Demographics & Economics
-Serves as the primary population and employment center for Winona County and surrounding Southeast Minnesota communities
-Anchored by Winona State University and Saint Mary’s University, supporting a stable student and professional population
-Strong presence of healthcare, education, manufacturing, and river-based commerce employers
-Stable year-round population supplemented by students, regional commuters, and visitors
-Household incomes support discretionary retail spending relative to peer non-metro Minnesota markets
-Consistent visitor traffic tied to river tourism, collegiate activity, healthcare services, and regional events

Nearby National & Big-Box Retailers
The property is located within an established national retail corridor, reinforcing long-term visibility, traffic generation, and destination-based shopping behavior.

Nearby national retailers include:

          Hy-Vee – 1.1 miles away
          Walmart Supercenter – 4.4 miles away
          Target – 4.5 miles away
          Menards – 4.8 miles away
          Fleet Farm – 4.3 miles away

The concentration of these anchors supports strong vehicle counts, repeat consumer activity, and daily shopping patterns—key drivers for successful cannabis retail operations.

Limited Supply Of Viable Cannabis Properties
Although licensing is uncapped, municipal buffer requirements severely limit the supply of qualifying properties. This site has already cleared zoning and local approval thresholds, eliminating a major entitlement risk and providing a meaningful advantage over speculative or uncovered sites.

No Local Caps — And No Race-To-Build Risk
In many Minnesota jurisdictions, operators must complete full construction before receiving final local approvals, creating a competitive race where speed—not quality—determines who secures limited licenses.

Winona avoids this risk entirely. With both state and local preliminary approvals in place and no licensing caps, operators may proceed confidently. Upon completing construction and passing inspections, final approvals will be issued without competitive displacement risk.

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.

PRICING & TERMS
Total Asking Price (Real Property + State & Local Micro-business Approvals):

$2,400,000

Value Allocation:

      -Real Property: $1,200,000Price per SF: ~$293/SF
          -State & Local Micro-business Approvals: $1,200,000

Structure & Flexibility:

     -Seller prefers to sell the real estate together with the state and local approvals
     -Seller will consider the sale of approvals separately, with the facility leased to the operator (lease pricing TBD)

All ownership transfers will be completed in full compliance with applicable state and local cannabis regulations.

This opportunity is co-brokered with Latitude Real Estate Advisors – Todd Baufman and Michael Sedley – Brokers License # 20594493

Meilad Rafiei – License# 01527304 – WeCann