Two-Story Office Building with
For Sale
$3,150,000
1330 E Superior St, Duluth, MN 55805
Flexible office property with loading, on-site parking, and mixed commercial use history.
Property Size31,800 SF
Price / SF$99.06
Days on Market9
Property Features for 1330 E Superior St
General Information
Standard status
Active
Size
31,800 SF
Property subtype
Office
Occupancy
84%
Net Operating Income
$171,714
Additional Details
Asking Price
$3,150,000
Drive-In Doors
1
Building Details
Buildings
1
Stories
2
Building Size
31,800 SF
Tenancy
Multi
Listing Agency:
Minneapolis - St. Paul
(952) 897-7721
Listed By:
Suzanne Schefcik · License #40710646
(952) 897-7721
Source:
Colliers
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 30 at 12:50PM
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 Minneapolis - St. Paul
Investment Insights
Based on property information with market context.
Located at 1330 E. Superior Street in Duluth’s Medical District, this 31,800 SF office building includes two leased floors and a basement with a drive-in door. The property has supported office, medical, warehouse, and light industrial uses, with flexible floor plates and loading capability suited to varied commercial operations.
The building is 84% occupied and includes an established tenant base alongside available space. On-site parking and visibility along a primary commercial corridor support daily access for occupants and visitors. The property is minutes from downtown Duluth, major healthcare institutions, and regional transportation corridors.
The building is 84% occupied and includes an established tenant base alongside available space. On-site parking and visibility along a primary commercial corridor support daily access for occupants and visitors. The property is minutes from downtown Duluth, major healthcare institutions, and regional transportation corridors.
Key Highlights
- 31,800 SF office building in Duluth’s Medical District
- 84% occupancy with an established tenant base
- Two leased floors plus basement with drive‑in door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$125,784
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,515,680
$2.5M
Cap Rate 7%
$1,796,914
$1.8M
Cap Rate 9%
$1,397,600
$1.4M
Market Conditions
NOI Build-Up for 31,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$187.0K $5.88/SF
− Vacancy
−$7.3K −$0.23/SF
EGI
$179.7K $5.65/SF
− OpEx
−$53.9K −$1.70/SF
NOI
$125.8K $3.96/SF
Area
St. Louis County, MN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,515,680
Cap Rate 7%
$1,796,914
Cap Rate 9%
$1,397,600
Alternative Uses
Best Use
Flex RnD
$10.69M
$9.35M – $12.47M
NOI $748,366 @ 7.0% cap · market cap 23.76%
Second Best
Office B
$6.30M
$5.51M – $7.35M
NOI $441,114 @ 7.0% cap · market cap 14.00%
Theoretical Best
Specialty Retail
$12.34M
$10.79M – $14.39M
NOI $863,500 @ 7.0% cap · market cap 27.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
84%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with loading, on-site parking, and mixed commercial use history.
Where is this office building located?
The property is located at 1330 E Superior St Duluth, MN.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 31,800 SF office building in Duluth’s Medical District; 84% occupancy with an established tenant base; Two leased floors plus basement with drive‑in door
