Clinic Office
For Sale
$7,100,000
4702 Grand Ave, Duluth, MN 55807
Office property built in 1997 and identified as a clinic.
Property Size20,512 SF
Price / SF$346.14
Days on Market135
Property Features for 4702 Grand Ave
General Information
Standard status
Active
Size
20,512 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
±7.6 YRS
Net Operating Income
$471,776
Additional Details
Cap Rate
6.65%
Building Details
Year Built
1997
Listing Agency:
Matthews Real Estate Investments Services | New York
Listed By:
Michael Moreno · License #01982943 (CA)
(949) 432-4511
Source:
Matthews
Added: Jun 4
Changed: Oct 8
Last Checked: Oct 16 at 5:37AM
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 Matthews Real Estate Investments Services | New York
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Investment Insights
Based on property information with market context.
This office building contains 20,512 square feet and was constructed in 1997. The property is identified as Aspirus St. Luke's Clinic and is located at 4702 Grand Ave in Duluth, Minnesota.
The offering is presented with a 6.65% CAP rate, providing a defined investment metric for evaluating the property. Its office classification supports consideration for professional and medical office use.
The offering is presented with a 6.65% CAP rate, providing a defined investment metric for evaluating the property. Its office classification supports consideration for professional and medical office use.
Key Highlights
- 20,512‑square‑foot office building
- Built in 1997
- Identified as Aspirus St. Luke's Clinic
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$284,533
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,690,660
$5.7M
Cap Rate 7%
$4,064,757
$4.1M
Cap Rate 9%
$3,161,478
$3.2M
Market Conditions
NOI Build-Up for 20,512 SF
Gross rent
$512.0K $24.96/SF
− Vacancy
−$132.6K −$6.46/SF
EGI
$379.4K $18.50/SF
− OpEx
−$94.8K −$4.62/SF
NOI
$284.5K $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%
$5,690,660
Cap Rate 7%
$4,064,757
Cap Rate 9%
$3,161,478
Alternative Uses
Best Use
Office B
$4.06M
$3.56M – $4.74M
NOI $284,533 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.96M
$6.96M – $9.28M
NOI $556,984 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
824
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office property built in 1997 and identified as a clinic.
Where is this office building located?
The property is located at 4702 Grand Ave Duluth, MN.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: 20,512‑square‑foot office building; Built in 1997; Identified as Aspirus St. Luke's Clinic
