Two-Story Retail
829 East 2nd Street Duluth, MN 55805
829 East 2nd Street, Duluth, MN, 55805
Contact for pricing
For Sale
Contact for pricing
Two-story retail building with off-street parking and an existing second-floor tenant.
Property Size5,600 SF
Price / SF$125
Days on Market80
Property Features for 829 East 2nd Street
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1922
Listing agency
Follmer Commercial Real Estate
(218) 310-0013
Listed by
Greg Follmer · License #MN 27078
Source
Crexi
Added: May 5 Updated: Jul 22 at 2:23AM Checked: Jul 22 at 2:23AM
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
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)
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.0k | $15.00 |
| − Vacancy | −$8.4k | −$1.50 |
| EGI | $75.6k | $13.50 |
| − OpEx | −$22.7k | −$4.05 |
| NOI | $52.9k | $9.45 |
5,600 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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)
