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Duluth 4615 Grand 4615 Grand Ave 15,631 SF 100% Leased Retail Building Duluth, MN 55807 $2,357,000 ($150.79/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- New 10-Year Goodwill Lease (Opening Soon!)
- "Hidden Gem" West Duluth neighborhood with 30k+ people within 3 miles
- Duluth is the 2nd largest economy in the state with a trade area of over 548k people
- Busy Intersection with 20,803 VPD
- College town with over 25,000 students
- Duluth has a low retail vacancy rate of 2% with high barriers to entry
EXECUTIVE SUMMARY
• New 10-Year Goodwill Lease
• Net income increases 2.79% annually on average during the first 5 years of the hold period
• Busy Intersection with 20,803 VPD
• "Hidden Gem" West Duluth neighborhood with 30k+ people within 3 miles
• College town with over 25,000 students
• Duluth is the 2nd largest economy in the state with a trade area of over 548k people
• Duluth has a low retail vacancy rate of 2% with high barriers to entry
• Goodwill True North has 100+ year history with 11 stores across Northern Minnesota and Wisconsin
• New silicone roof coating with 15 year total system warranty
• Net income increases 2.79% annually on average during the first 5 years of the hold period
• Busy Intersection with 20,803 VPD
• "Hidden Gem" West Duluth neighborhood with 30k+ people within 3 miles
• College town with over 25,000 students
• Duluth is the 2nd largest economy in the state with a trade area of over 548k people
• Duluth has a low retail vacancy rate of 2% with high barriers to entry
• Goodwill True North has 100+ year history with 11 stores across Northern Minnesota and Wisconsin
• New silicone roof coating with 15 year total system warranty
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,631 SF
Building Class
B
Year Built
1998
Price
$2,357,000
Price Per SF
$150.79
Cap Rate
8%
NOI
$188,622
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.90 AC
Opportunity Zone
Yes
Zoning
MU-N - Mixed-use Neighborhood
Parking
39 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
234’ on Grand Ave
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 010361008730 | Improvements Assessment | $1,749,400 |
| Land Assessment | $360,000 | Total Assessment | $2,109,400 |
PROPERTY TAXES
Parcel Number
010361008730
Land Assessment
$360,000
Improvements Assessment
$1,749,400
Total Assessment
$2,109,400
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Duluth 4615 Grand | 4615 Grand Ave
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