Listing Agency: Greg Follmer Commercial Real Estate Show Phone

Listed By: Greg Follmer · License #27078 Show Phone

Source: Moodyscre

Added: Aug 27, 2019 Changed: Jul 28 Last Checked: Jul 29 at 2:17PM

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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 Greg Follmer Commercial Real Estate

Investment Insights

Based on property information with market context.

A retail shopping center available for rent, currently undergoing significant improvements totaling over $1 million. Reported renovations include a new roof and parking lot, supporting refreshed exterior condition and updated site readiness for tenants and customers.

The property is located at 990 W 41st St in Hibbing, Minnesota, and is positioned to serve retail demand within its surrounding retail corridor. The offering highlights updated facilities and ongoing improvements aimed at enhancing the property’s day-to-day appearance and functionality for retail operations.

Key Highlights

• Shopping center available for rent
• Over $1 million in renovations, including a new roof
• Renovations include a new parking lot

Property Analytics

Current Use

Iron Range Computer ... Tech Support Center Irongate Business Service Center Silver Birch Gift ... (Bike/Boat/Book/etc) Store Hibbing VA Clinic Medical Clinic Matuszak Tami J Physician

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Law Firm Pharmacy Electrical Service

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

Lease Details

NNN (Triple Net)

Lease Type

Location Intelligence

Trade Area within ½ mile

167

Businesses Nearby

21k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 87% Electronics 7% Beauty & Spa 6%

Caribou Coffee Dining

10,870 visits/mo 0.4 miles

Erbert & Gerbert's Dining

4,990 visits/mo 0.4 miles

Papa Murphy's Dining

2,590 visits/mo 0.4 miles

AT&T Electronics

1,421 visits/mo 0.4 miles

Great Clips Beauty & Spa

1,346 visits/mo 0.4 miles

Demographics for 55746, MN

17,071

Population

8,999

Households

1.9

Avg Household Size

43

Median Age

19%

College-Educated

93%

High-School Grad

347.0 sq mi

ZIP Area

49

Density / Sq Mi

$55,694

Median Household Income

$38,268

Median Earnings

$739

Median Rent

$127,600

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

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Frequently Asked Questions

What type of property is this?

Shopping center - Shopping center available for rent, with over $1 million in renovations including a new roof and parking lot.

Where is this shopping center located?

The property is located at 990 W 41st St Hibbing, MN.

What are key features of this property?

This property features: Shopping center available for rent; Over $1 million in renovations, including a new roof; Renovations include a new parking lot