Retail/Office Corner
For Sale
Contact for pricing
1902 W 1st St, Duluth, MN 55806
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 Market185
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
Listed By:
Greg Follmer · License #27078
(218) 310-0013
Source:
Moodyscre
Added: Apr 29
Changed: Oct 25
Last Checked: Oct 28 at 12:37PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$19,878
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,560
$397.6K
Cap Rate 7%
$283,971
$284.0K
Cap Rate 9%
$220,867
$220.9K
Market Conditions
NOI Build-Up for 1,433 SF
Gross rent
$35.8K $24.96/SF
− Vacancy
−$9.3K −$6.46/SF
EGI
$26.5K $18.50/SF
− OpEx
−$6.6K −$4.62/SF
NOI
$19.9K $13.87/SF
Area
St. Louis County, MN
Vacancy
25.90%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,560
Cap Rate 7%
$283,971
Cap Rate 9%
$220,867
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 55806, MN
9,761
Population
4,848
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
2,871
Density / Sq Mi
$44,962
Median Household Income
$33,868
Median Earnings
$910
Median Rent
$156,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Corner property offers main-floor office or retail space plus a full walk-out basement.
Where is this office unit 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
