4609-4615 Grand Ave, Duluth, MN

Listing office Mid-America Real Estate-Minnesota LLC a***@midamericagrp.com Show Phone

Listing date Oct 15, 2024

Source Moodyscre

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Overview

This retail property is located in the West Duluth neighborhood, an area described as a 'hidden gem'. The surrounding area has a population of over 30,000 people within a 3-mile radius. The property benefits from a busy intersection with a traffic volume of 20,803 vehicles per day. The city of Duluth has a low retail vacancy rate of 2% and is the second largest economy in the state, serving a trade area of over 548,000 people. A new 10-year lease is in place with Goodwill, with net income increasing by an average of 2.79% annually during the first 5 years. Goodwill True North has a history of over 100 years, operating 11 stores across Northern Minnesota and Wisconsin. The property has a new silicone roof coating with a 15-year total system warranty. The area is a college town with over 25,000 students. The property has a size of 15,631 square feet.

Suggested Use

Real Estate Agency Skin Care Clinic HVAC Service Law Firm Barber Shop Discount Store Grocery & Convenience Store Tech Support Center Grocery & Convenience Store Wine and Liquor Store

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

Location Insight

• Map
• Local Demand

City

Duluth

County

St. Louis

State

Minnesota

Longitude

-92.1604

Latitude

46.7456

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FAQs

What type of property is this?

Storefront property - Retail property in Duluth's West Duluth neighborhood.

Where is this storefront property located?

The property is located at 4609-4615 Grand Ave Duluth, MN.

What is the asking price?

The asking price for this property is $2,357,000.

What are key features of this property?

This property features: New 10‑Year Goodwill Lease with increasing net income (2.79% annually on average for the first 5 years).; Located in a busy intersection with high traffic volume (20,803 VPD).; Low retail vacancy rate (2%) in Duluth with high barriers to entry.