Building Details

Year Built 1976

Listing Agency: CMRA, LLC

Listed By: Gayle Ankarlo Show Phone

Source: Biglifeteam

Added: Aug 26 Changed: Oct 13 Last Checked: Oct 7 at 1:46PM

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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 CMRA, LLC

Investment Insights

Based on property information with market context.

This flex space at 6420 Redruth St in Duluth, Minnesota, was built in 1976 and is designated Mixed Use Business (MU-B). The property is positioned for an owner-user seeking space for a business operation, with the zoning supporting contractor shops, automotive businesses, and light industrial uses.

Access to main thoroughfares and the interstate supports distribution, storage, and office-service functions where prominent visibility is not essential. The property’s flex configuration provides a commercial setting for businesses requiring a combination of operational and service-oriented space.

Key Highlights

• Mixed Use Business (MU‑B) zoning
• Built in 1976
• Access to main thoroughfares and the interstate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,240

Cap Rate

3.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$564,800 $564.8K

Cap Rate 7%

$403,429 $403.4K

Cap Rate 9%

$313,778 $313.8K

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$49.8K $41.52/SF

− Vacancy

−$6.4K −$5.31/SF

EGI

$43.4K $36.21/SF

− OpEx

−$15.2K −$12.67/SF

NOI

$28.2K $23.53/SF

Area

St. Louis County, MN

Vacancy

12.80%

Lease Rate

$41.52 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$564,800

Cap Rate 7%

$403,429

Cap Rate 9%

$313,778

Alternative Uses

Best Use

Flex RnD

$403.4K

$353.0K – $470.7K (±1% cap)

NOI $28,240 @ 7.0% cap · market cap 3.53%

Second Best

Warehouse

$82.3K

$72.1K – $96.1K (±1% cap)

NOI $5,764 @ 7.0% cap · market cap 0.72%

Theoretical Best

Specialty Retail

$465.5K

$407.3K – $543.1K (±1% cap)

NOI $32,585 @ 7.0% cap · market cap 4.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bluewater Geothermal Plumbing Service

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Big Box & Wholesale Store Law Firm Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

244

Businesses Nearby

Balanced

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - MU-B zoning supports contractor, automotive, and light industrial operations with access to major thoroughfares and the interstate.

Where is this flex space located?

The property is located at 6420 Redruth St Duluth, MN.

What is the asking price?

The asking price for this property is $800,000.

What are key features of this property?

This property features: Mixed Use Business (MU‑B) zoning; Built in 1976; Access to main thoroughfares and the interstate