Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space Near Medical Center Title is generated by Realmo AI

    5 E 1st St, Duluth, MN 55802

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space near Essentia Health and St. Luke’s Hospital.

    Type:RETAIL
    Property size:
    5,196 SF
    Lot size:
    0.48 Acres
    Added:
    Sep 26, 2023
    Days on Market:
    970
    Last Refresh:
    Apr 5 at 8:16 pm

    Property Features for 5 E 1st St

    General Information

    Standard status
    Active
    Size
    5,196 SF
    Lot size
    0.48 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 5 E 1st St Contact us

    We can help!

    Listing Contact
    Rob Kost
    Rob Kost

    Listing agent Rob Kost

    Listing office Upland Real Estate Group, Inc

    Listing date Sep 26, 2023

    Source Moodyscre

    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 Upland Real Estate Group, Inc

    HighLights

    • Consistent 90‑95% residential apartment occupancy.
    • Proximity to Essentia Health/St. Mary’s Medical Center and St. Luke’s Hospital.
    • Located in a heavy retail and restaurant area.
    • Easy access to Canal Park and Duluth Entertainment Convention Center.
    • Close to Sheraton and Holiday Inn & Suites.
    • Near Pizza Luce, US Bank, Domino’s, Duluth Trading, and Starbucks.

    Overview

    This retail space is located near the Essentia Health/St. Mary’s Medical Center and St. Luke’s Hospital, in a heavy retail and restaurant area. The property offers easy access to Canal Park, the Duluth Entertainment Convention Center, Sheraton, and Holiday Inn & Suites. Nearby businesses include Pizza Luce, US Bank, Domino’s, Duluth Trading, and Starbucks. The area maintains consistent residential apartment occupancy of 90-95%. The property offers 5196 square feet of retail space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cove Apartments Apartment Building 50 Below Pool ... Hotel & Motel Leadership Duluth Corporate Office We Give Loans, ... Loan Service 90 Day Loans, ... Loan Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.0993
    Latitude
    46.788

    Nearby Similar for Lease

    • $18 SF/Yr
      6,853 SF

      Retail Space in Duluth

      Retail space for lease in Duluth's southern trade area.
      5514 Grand Ave, Duluth, MN
      View Details
    • Contact for pricing

      Former Drive-Thru on Central Entrance

      Former drive-thru with great access and visibility.
      322 East Central Entrance | Duluth, MN 55811
      View Details
    • $13 SF/Yr
      13,800 SF

      Duluth Office Space For Rent

      13,800 square foot office space available for lease.
      1330 E Superior St, Duluth, MN
      View Details
    • Contact for pricing
      4,418 SF

      Office/Retail Space in Duluth

      4,418 SF office/retail space available in Duluth, MN.
      2520 Maple Grove Rd, Duluth, MN 55811
      View Details
    • $11 SF/Yr
      32,760 SF

      Spacious Industrial Warehouse For Rent

      32,760 SF warehouse with loading docks and overhead doors.
      5400 Miller Trunk Hwy, Duluth, MN
      View Details
    • $18 SF/Yr
      2,400 SF

      Lincoln Park Retail Space Available

      Retail space in Lincoln Park Craft District with parking.
      2122 W Superior St, Duluth, MN
      View Details
    • $18 SF/Yr
      945 SF

      Historic Carnegie Library Office Suites

      Office suites available in historic Carnegie Library building.
      101 W 2nd St, Duluth, MN
      View Details
    • Contact for pricing
      5,800 SF

      Canal Park Restaurant Opportunity

      Turnkey restaurant space in Duluth's premier dining and tourism district.
      355 S Lake Ave, Duluth, MN 55802
      View Details
    • $2.00 SF/Yr
      1,433 SF

      Lincoln Park Retail/Office Opportunity

      Prime corner location in Lincoln Park's Craft District.
      1902 W 1st St, Duluth, MN
      View Details
    • Contact for pricing
      1,151 SF

      Fixer Upper Shop Building

      Prime visibility on Grand Ave, across from the Zoo.
      6920 Grand Ave, Duluth, MN
      View Details
    • Contact for pricing
      8,000 SF

      Retail Space Available in Duluth

      Retail space available, totaling 8,000 square feet in Duluth.
      325 S Lake Ave, Duluth, MN 55802
      View Details
    • $30 SF/Yr
      1,200 SF

      Enger Lofts Retail Space

      Prime retail space in Lincoln Park Craft District for rent.
      1832 Superior St W, Duluth, MN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space near Essentia Health and St. Luke’s Hospital.
    Where is this retail space located?
    The property is located at 5 E 1st St Duluth, MN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Consistent 90‑95% residential apartment occupancy.; Proximity to Essentia Health/St. Mary’s Medical Center and St. Luke’s Hospital.; Located in a heavy retail and restaurant area.
    (612) 868-1868 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rob Kost
    Rob Kost
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5 E 1st St, Duluth, MN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!