Foundry with Three
2301 Commonwealth Ave Duluth, MN 55808
For Sale
Contact for pricing
Pending
Foundry with three buildings, easy access to Interstate 35.
Property Size33,656 SF
Days on Market777
Property Features for 2301 Commonwealth Ave
General Information
Standard status
Pending
Size
33,656 SF
Property subtype
Industrial
Listing Agency:
Holappa Commercial Real Estate
Listed By:
Dave Holappa · License #MN 20363022
Source:
Crexi
Added: Jun 14, 2024
Changed: Jul 6
Last Checked: Jul 24 at 3:12PM
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 Holappa Commercial Real Estate
Investment Insights
Based on property information with market context.
This property features a larger parcel improved with three buildings, currently operated as a foundry. The property offers convenient access to Interstate 35. The property size totals 33656 square feet.
Key Highlights
- Larger parcel size
- Three buildings included
- Currently operated as a foundry
Financial Insights For Industrial
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 | $197.9k | $5.88 |
| − Vacancy | −$7.7k | −$0.23 |
| EGI | $190.2k | $5.65 |
| − OpEx | −$57.1k | −$1.70 |
| NOI | $133.1k | $3.96 |
33,656 SF · lease $5.88/SF/yr · vacancy 3.90% · expense 30.00%
Alternative Uses
Best Use
Industrial
$1.90M
$1.66M – $2.22M
NOI $133,126 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.06M
$11.42M – $15.23M
NOI $913,898 @ 7.0% cap · market cap 48.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Manufacturing property - Foundry with three buildings, easy access to Interstate 35.
Where is this manufacturing property located?
The property is located at 2301 Commonwealth Ave Duluth, MN.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Larger parcel size; Three buildings included; Currently operated as a foundry
