1301 Miller Trunk Hwy Duluth, MN 55811-5611

This exceptional investment opportunity presents a fully leased, Class B office building located at 1301 Miller Trunk Hwy, Duluth, MN 55811. The Highland Professional Center boasts 11,591 square feet of net rentable space, currently housing two credit-rated tenants: Essentia Orthopedics and Northway Avademy. The property features a strong 7.56% cap rate, generating a net operating income (NOI) of $242,000. Built in 1933 and extensively renovated in 2023, this single-story building sits on a 16,100 square foot lot zoned MU-C. The current lease, a triple-net (NNN) agreement, has a remaining term of approximately five years, with a lease expiration date of November 29, 2029. The lease includes annual rent bumps of 3%, ensuring consistent income growth. The asking price is $3,200,000, translating to a price per square foot of $276.08. This property benefits from its prime location on Miller Trunk Highway and the ongoing residential and commercial development in the area, making it a secure and attractive long-term investment. The lease commenced on August 31, 2019, and has a 1-5 year option. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market.