Building Details

Year Built 1990

Listing Agency: RE/MAX Results

Listed By: Trish Kroening Show Phone

Source: Biglifeteam

Added: Jul 18 Changed: Sep 25 Last Checked: Oct 7 at 4:53PM

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Investment Insights

Based on property information with market context.

This commercial storefront property is currently configured for multiple uses, including a vibrant 9-chair hair salon with five shampoo stations, plus an additional nail room. Interior improvements also include a mechanical mop sink area with storage, an updated 1/2 bath, and a spacious entry with display area. A storage room with an office is included as well, supporting back-of-house needs. The second business operates as a shake shop, with menu expansion underway.

The property offers ample parking with 15 spaces and is located next to Super One, supporting convenient customer access.

Overall, the layout is designed around salon-style back-of-house support and retail-facing presentation, with room for at least two distinct operational areas within the same storefront.

Key Highlights

• Commercial storefront currently set up as a 9‑chair hair salon with 5 shampoo stations
• Includes a separate nail room sized for one tech
• Salon area features a mechanical mop sink area with storage and an updated 1/2 bath

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,525

Cap Rate

3.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,500 $410.5K

Cap Rate 7%

$293,214 $293.2K

Cap Rate 9%

$228,056 $228.1K

Market Conditions

NOI Build-Up for 2,172 SF

Gross rent

$32.6K $15.00/SF

− Vacancy

−$3.3K −$1.50/SF

EGI

$29.3K $13.50/SF

− OpEx

−$8.8K −$4.05/SF

NOI

$20.5K $9.45/SF

Area

St. Louis County, MN

Vacancy

10.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,500

Cap Rate 7%

$293,214

Cap Rate 9%

$228,056

Alternative Uses

Best Use

Specialty Retail

$842.6K

$737.2K – $983.0K (±1% cap)

NOI $58,979 @ 7.0% cap · market cap 11.23%

Second Best

Retail

$293.2K

$256.6K – $342.1K (±1% cap)

NOI $20,525 @ 7.0% cap · market cap 3.91%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Cold Fusion-West Duluth Specialty Food Shop Minnesota Affordable Containers Shipping Company Gabnails Nail Salon Wanda's Hair Works Nail Salon

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon HVAC Service Restaurant Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

587

Businesses Nearby

Explore this area Business Placement

Demographics for 55807, MN

9,674

Population

4,572

Households

2.1

Avg Household Size

39

Median Age

29%

College-Educated

95%

High-School Grad

5.8 sq mi

ZIP Area

1,668

Density / Sq Mi

$63,670

Median Household Income

$36,246

Median Earnings

$797

Median Rent

$164,000

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - This storefront retail space includes a 9-chair hair salon setup, a shake shop, and 15 on-site parking spaces.

Where is this retail space located?

The property is located at 222 N Central Ave Duluth, MN.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: Commercial storefront currently set up as a 9‑chair hair salon with 5 shampoo stations; Includes a separate nail room sized for one tech; Salon area features a mechanical mop sink area with storage and an updated 1/2 bath