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    1321 Commonwealth Ave Duluth, MN 55808

    Sponsored
    For Sale
    $300,000

    Established bar with apartments, ample parking.

    Property size:
    3,216 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents a thriving business and rental income potential in the vibrant Gary New Duluth neighborhood of Duluth, Minnesota. The property boasts a 3,216 square foot building situated on a 0.23-acre lot, featuring a fully equipped bar with original wood accents, stand-up beer coolers, a walk-in keg cooler, and a soda cooler. The outdoor area is a significant asset, encompassing a fenced-in recreation space complete with fire pits, horseshoe pits, and a stage perfect for hosting events. The elimination of party permit needs for outdoor events adds considerable value. Adding to the income stream are two apartments located above the bar, providing additional rental revenue. The property includes 14 off-street parking spaces and a two-car garage, offering ample storage for both personal and business equipment. Recent improvements include a complete remodel of the bar's bathrooms in 2023. The sale includes all necessary fixtures, equipment, and the existing rental license, ensuring a smooth transition for the new owner. Conveniently located near public transportation and local stores, this property offers a unique blend of established business and rental income, making it an ideal investment for a savvy entrepreneur. Don't miss this chance to own a well-established business with significant upside potential.

    Property Features for 1321 Commonwealth Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    3,216 SF
    Lot Size
    10,019 SF

    Building Details

    Year Built
    1916
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop Accounting Firm Wholesale Shop Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.22675
    Latitude
    46.67115

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    FAQs

    What type of property is this?
    Commercial real estate - Established bar with apartments, ample parking.
    Where is this commercial real estate located?
    The property is located at 1321 Commonwealth Ave Duluth, MN.
    What is the asking price?
    The asking price for this property is $300,000.
    (218) 728-5161
    Request Owner's contact information
    1321 Commonwealth Ave Duluth, MN 55808
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    Duluth, MN 55808
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1321 Commonwealth Ave Duluth, MN 55808
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