Mixed-Use Property with
For Sale
$350,000
1132 E 9th St, Duluth, MN 55805
Flexible layout combines commercial space with residential accommodations near downtown and public transportation.
Property Size1,891 SF
Price / SF$185.09
Days on Market8
Property Features for 1132 E 9th St
General Information
Standard status
Active
Size
1,891 SF
Total Parking Spaces
4
Additional Details
Public Transit
Yes
Amenities
kitchenette
half bath
ample storage
off-street parking
Building Details
Year Built
1914
Listing Agency:
RE/MAX Results
(218) 390-6747
Listed By:
Tracy L. Ramsay · License #40762684
Source:
Tayloronken
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 12:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
Investment Insights
Based on property information with market context.
This 1,891-square-foot mixed-use property, built in 1914, is currently operating as a hair salon. The main level offers an open floor plan with a kitchenette, half bath, and substantial storage. At the rear, the property includes two bedrooms, a living room, and a full bathroom, along with an area that could be converted back into a kitchen. Newer mechanical systems support the building’s current configuration.
Located near downtown and directly on the bus line, the property also provides off-street parking for four vehicles. The combination of commercial and residential areas creates a flexible layout for an owner-user or investor, with potential applications including office, retail, studio, or wellness space as described by the current configuration.
Located near downtown and directly on the bus line, the property also provides off-street parking for four vehicles. The combination of commercial and residential areas creates a flexible layout for an owner-user or investor, with potential applications including office, retail, studio, or wellness space as described by the current configuration.
Key Highlights
- 1,891 SF mixed‑use property built in 1914
- Main level features an open floor plan, kitchenette, half bath, and ample storage
- Rear portion includes two bedrooms, a living room, and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,231
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,620
$524.6K
Cap Rate 7%
$374,729
$374.7K
Cap Rate 9%
$291,456
$291.5K
Market Conditions
NOI Build-Up for 1,891 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.2K $24.96/SF
− Vacancy
−$12.2K −$6.46/SF
EGI
$35.0K $18.50/SF
− OpEx
−$8.7K −$4.62/SF
NOI
$26.2K $13.87/SF
Area
St. Louis County, MN
Vacancy
25.90%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$524,620
Cap Rate 7%
$374,729
Cap Rate 9%
$291,456
Alternative Uses
Best Use
Mixed Use
$611.3K
$534.9K – $713.2K
NOI $42,790 @ 7.0% cap · market cap 12.23%
Second Best
Office B
$374.7K
$327.9K – $437.2K
NOI $26,231 @ 7.0% cap · market cap 7.49%
Theoretical Best
Specialty Retail
$733.5K
$641.9K – $855.8K
NOI $51,348 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,400
Businesses Nearby
Explore this area
Business Placement
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible layout combines commercial space with residential accommodations near downtown and public transportation.
Where is this mixed-use property located?
The property is located at 1132 E 9th St Duluth, MN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,891 SF mixed‑use property built in 1914; Main level features an open floor plan, kitchenette, half bath, and ample storage; Rear portion includes two bedrooms, a living room, and full bath
