Freestanding CVS Retail
For Sale
$6,904,000
1215 E Superior St, Duluth, MN 55802
Single-tenant CVS on a 1.29-acre lot with ample parking, pylon signage, and signalized intersection access.
Property Size13,728 SF
Lot Size1.29 Acres
Price / SF$502.91
Days on Market93
Property Features for 1215 E Superior St
General Information
Standard status
Active
Size
13,728 SF
Lot size
1.29 Acres
Property subtype
Drug Store
Lease Type
Absolute Net
Additional Details
Cap Rate
6%
Amenities
Duluth is the Primary Medical Hub for the "Northland", Serving Over 47k Square Miles in Three States
CVS Sits Half a Block Away From Duluth's Medical Mile, St. Luke's and St. Mary's Hospitals, Who Recently Invested Over $1 Billion in the Region
Affluent Community with an Average Household Income of Over $87K within Five Miles of the Subject Asset, as of 2025
Subject is 1 Mile from Downtown Duluth with a Population of 88k
Steady Traffic Counts on Superior Street (9k VPD) and 300' From London Road (13k VPD) (Source: CoStar, 2025)
Parks and Outdoor Recreational Facilities Nearby Include: The Lake Walk, Duluth Rose Garden, Canal Park, Great Lakes Aquarium, 12th Street Beach, Duluth Yacht Club, and More
Building Details
Building Size
13,728 SF
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Jesse Limon · License #License(s): IN: RB14048415, NY: 10401271892, NV: S.0205593
(212) 430-5291
Source:
Marcusmillichap
Added: Jul 17
Changed: Oct 6
Last Checked: Oct 16 at 5:43AM
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 Marcus & Millichap - Manhattan
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Investment Insights
Based on property information with market context.
The subject property is a 13,728-square-foot freestanding CVS on a 1.29-acre lot. The site includes ample parking and is supported by pylon signage. This is a corporate-guaranteed absolute net lease with over fourteen years remaining, and S&P recently updated its outlook to stable while affirming its BBB rating.
The building is located at a signalized intersection with easy ingress and egress, providing straightforward access for customers and deliveries.
The offering includes the full CVS facility and its site improvements as described in the public remarks.
The building is located at a signalized intersection with easy ingress and egress, providing straightforward access for customers and deliveries.
The offering includes the full CVS facility and its site improvements as described in the public remarks.
Key Highlights
- 13,728 SF CVS on a 1.29‑acre lot with ample parking
- Absolute net lease with corporate guarantee and over 14 years remaining
- Located at a signalized intersection with easy ingress/egress
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$372,771
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,455,420
$7.5M
Cap Rate 7%
$5,325,300
$5.3M
Cap Rate 9%
$4,141,900
$4.1M
Market Conditions
NOI Build-Up for 13,728 SF
Gross rent
$570.0K $41.52/SF
− Vacancy
−$73.0K −$5.31/SF
EGI
$497.0K $36.21/SF
− OpEx
−$124.3K −$9.05/SF
NOI
$372.8K $27.15/SF
Area
St. Louis County, MN
Vacancy
12.80%
Lease Rate
$41.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,455,420
Cap Rate 7%
$5,325,300
Cap Rate 9%
$4,141,900
Alternative Uses
Best Use
Specialty Retail
$5.33M
$4.66M – $6.21M
NOI $372,771 @ 7.0% cap · market cap 5.40%
Second Best
Retail
$1.85M
$1.62M – $2.16M
NOI $129,730 @ 7.0% cap · market cap 1.88%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,370
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 45%
Home Improvements & Furnishings 37%
Shops & Services 18%
Burggraf's Ace Hardware
Home Improvements & Furnishings
4,431 visits/mo
0.0 miles
Great Harvest Bread Co.
Dining
3,846 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
2,126 visits/mo
0.1 miles
Jimmy John's
Dining
1,416 visits/mo
0.1 miles
Demographics for 55802, MN
2,544
Population
1,529
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
978
Density / Sq Mi
$40,850
Median Household Income
$42,266
Median Earnings
$596
Median Rent
$479,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Reasor Properties Inc — 230 E Superior St, Duluth, MN 55802
- David R. Salo, PharmD — 407 e 3rd st, duluth, mn 55805
- Ronald S. Harlander Jr, DR — 400 e 3rd st, duluth, mn 55805
- Jillene Beuke, PharmD — 400 e 3rd st, duluth, mn 55805
- Danielle MacDonald, PharmD — 407 E 3rd St, Duluth, MN 55805
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant CVS on a 1.29-acre lot with ample parking, pylon signage, and signalized intersection access.
Where is this drug store located?
The property is located at 1215 E Superior St Duluth, MN.
What is the asking price?
The asking price for this property is $6,904,000.
What are key features of this property?
This property features: 13,728 SF CVS on a 1.29‑acre lot with ample parking; Absolute net lease with corporate guarantee and over 14 years remaining; Located at a signalized intersection with easy ingress/egress
