Minnesota is now open for cannabis retail
CannDev In Minnesota
As of May 2023, Minnesota has become the 23rd state in the nation to legalize adult-use cannabis. CannDev sees this market as the next most exciting to open. The competitive licensing process has a deadline of March 25, 2025 and is expected to be drawn between May-June 2025.
Minnesota has almost 6,000,000 population and is surrounded by four states without adult-use sales that are very unlikely to allow for adult-use in the near future.
Here are 4 under-the-radar issues you need to know to win in this market.
There are currently only 15 existing medical dispensaries in this market. Local governments will not be allowed to opt out which means many great opportunities on borders or nearby states.
The state is doing a lottery for retail licenses similar to Ohio and Kentucky.
Please sign up for our Off Market Deals to be included in our alerts where you can get first look at new cannabis retail real estate opportunities in Minnesota
Local governments will not be allowed to opt out which means every city in Minnesota will allow for retail sales.
Minnesota has almost 6M population and is surrounded by five states without adult-use sales that are very unlikely to allow for adult-use in the near future. This means many population bases from nearby states will be additional customers to the future stores in Minnesota.
Applications open February 18, 2025. Deadline to submit is March 14, 2025.
The lottery is expected to be drawn between May-June 2025.
There are currently only 15 existing medical dispensaries in this market. There will be 75 retail licenses granted in the upcoming lottery in 2025, however with unlimited microbusiness licenses there is effectively no limit on retail licenses. Local governments will not be allowed to opt out which means many great opportunities on borders or nearby states.
While real estate isn’t required for applications, the race for prime locations will heat up once licenses are awarded, fueling competition and driving up costs.
CannDev is already securing compliant retail locations for future license holders, focusing on cities with sustainable regulatory frameworks.
Many of our secured sites are near state borders with large population centers, offering high revenue potential—especially since Minnesota borders four states that lack adult-use sales.
Please sign up for our Off Market Deals to be included in our alerts where you can get first look at new cannabis retail real estate opportunities in Minnesota
Sign up for our
Emerging Markets Newsletter
We’ll keep you up to date on next cities soon to open to Cannabis retail