Two-Story Retail
For Sale
Contact for pricing
829 East 2nd Street, Duluth, MN 55805
Two-story retail building with off-street parking and an existing second-floor tenant.
Property Size5,600 SF
Price / SF$125
Days on Market177
Property Features for 829 East 2nd Street
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Retail
Building Details
Year Built
1922
Stories
2
Units
2
Listing Agency:
Follmer Commercial Real Estate
Listed By:
Greg Follmer · License #MN 27078
(218) 310-0013
Source:
Crexi
Added: May 5
Changed: Oct 25
Last Checked: Oct 26 at 4:07PM
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 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 two-story retail building was built in 1922 and includes two levels of space. The property has off-street parking, and a tenant is already in place on the upper (second) floor.
The building is described as being in the East End area just outside downtown with easy access.
The offering is for sale and includes reference to unit numbers #010-3830-07630 and 07640.
The building is described as being in the East End area just outside downtown with easy access.
The offering is for sale and includes reference to unit numbers #010-3830-07630 and 07640.
Key Highlights
- Two‑story retail building built in 1922
- 5,600 SF across 2 floors
- Existing second‑floor tenant in place (#010‑3830‑07630 & 07640)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,920
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,058,400
$1.1M
Cap Rate 7%
$756,000
$756.0K
Cap Rate 9%
$588,000
$588.0K
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$84.0K $15.00/SF
− Vacancy
−$8.4K −$1.50/SF
EGI
$75.6K $13.50/SF
− OpEx
−$22.7K −$4.05/SF
NOI
$52.9K $9.45/SF
Area
St. Louis County, MN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,058,400
Cap Rate 7%
$756,000
Cap Rate 9%
$588,000
Alternative Uses
Best Use
Retail
$756.0K
$661.5K – $882.0K
NOI $52,920 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.17M
$1.90M – $2.53M
NOI $152,063 @ 7.0% cap · market cap 21.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,858
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 24%
Home Improvements & Furnishings 20%
Speedway
Shops & Services
10,052 visits/mo
0.3 miles
Burggraf's Ace Hardware
Home Improvements & Furnishings
4,431 visits/mo
0.4 miles
Great Harvest Bread Co.
Dining
3,846 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
2,126 visits/mo
0.3 miles
Jimmy John's
Dining
1,416 visits/mo
0.3 miles
Demographics for 55805, MN
9,731
Population
5,430
Households
1.8
Avg Household Size
31
Median Age
37%
College-Educated
93%
High-School Grad
1.4 sq mi
ZIP Area
6,951
Density / Sq Mi
$43,077
Median Household Income
$26,309
Median Earnings
$984
Median Rent
$171,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Two-story retail building with off-street parking and an existing second-floor tenant.
Where is this retail space located?
The property is located at 829 East 2nd Street Duluth, MN.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two‑story retail building built in 1922; 5,600 SF across 2 floors; Existing second‑floor tenant in place (#010‑3830‑07630 & 07640)
