Retail/Office Corner
1902 W 1st St Duluth, MN 55806
For Sale
Contact for pricing
Corner property offers main-floor office or retail space plus a full walk-out basement.
Property Size1,433 SF
Price / SF$303.56
Days on Market93
Property Features for 1902 W 1st St
General Information
Standard status
Active
Size
1,433 SF
Property subtype
OFFICE
Listing Agency:
Greg Follmer Commercial Real Estate
(218) 310-0013
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: Apr 29
Changed: Jul 28
Last Checked: Jul 29 at 12:13PM
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.
This corner commercial building is set up for flexible use, with office or retail space on the main floor and a full walk-out basement. The property is described as having strong visibility and street presence.
The asset is located in Lincoln Park at 1902 W 1st St in Duluth, MN, and is positioned on a corner in the area identified as the Lincoln Park Craft District.
With its main level and walk-out basement configuration, the building provides two levels of usable space for tenants or buyers seeking adaptable commercial layout.
The asset is located in Lincoln Park at 1902 W 1st St in Duluth, MN, and is positioned on a corner in the area identified as the Lincoln Park Craft District.
With its main level and walk-out basement configuration, the building provides two levels of usable space for tenants or buyers seeking adaptable commercial layout.
Key Highlights
- Corner property in Lincoln Park with main‑floor space for office or retail
- Main floor includes office or retail setup, with flexible commercial use
- Full walk‑out basement adds additional usable space
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.8k | $24.96 |
| − Vacancy | −$9.3k | −$6.46 |
| EGI | $26.5k | $18.50 |
| − OpEx | −$6.6k | −$4.62 |
| NOI | $19.9k | $13.87 |
1,433 SF · lease $24.96/SF/yr · vacancy 25.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$284.0K
$248.5K – $331.3K
NOI $19,878 @ 7.0% cap · market cap 4.57%
Second Best
Retail
$193.5K
$169.3K – $225.7K
NOI $13,542 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$555.9K
$486.4K – $648.5K
NOI $38,912 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Corner property offers main-floor office or retail space plus a full walk-out basement.
Where is this office units located?
The property is located at 1902 W 1st St Duluth, MN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Corner property in Lincoln Park with main‑floor space for office or retail; Main floor includes office or retail setup, with flexible commercial use; Full walk‑out basement adds additional usable space
