Foundry with Three
For Sale
Contact for pricing
Pending
2301 Commonwealth Ave, Duluth, MN 55808
Foundry with three buildings, easy access to Interstate 35.
Property Size33,656 SF
Days on Market869
Property Features for 2301 Commonwealth Ave
General Information
Standard status
Pending
Size
33,656 SF
Property subtype
Industrial
Zoning
MU-B
Building Details
Buildings
3
Listing Agency:
Holappa Commercial Real Estate
Listed By:
Dave Holappa · License #MN 20363022
Source:
Crexi
Added: Jun 14, 2024
Changed: Oct 25
Last Checked: Oct 28 at 7:22AM
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
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 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
Estimated NOI and Cap Rate
NOI / Yr
$133,126
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,662,520
$2.7M
Cap Rate 7%
$1,901,800
$1.9M
Cap Rate 9%
$1,479,178
$1.5M
Market Conditions
NOI Build-Up for 33,656 SF
Gross rent
$197.9K $5.88/SF
− Vacancy
−$7.7K −$0.23/SF
EGI
$190.2K $5.65/SF
− OpEx
−$57.1K −$1.70/SF
NOI
$133.1K $3.96/SF
Area
St. Louis County, MN
Vacancy
3.90%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,662,520
Cap Rate 7%
$1,901,800
Cap Rate 9%
$1,479,178
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 55808, MN
5,943
Population
2,786
Households
2.1
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
12.0 sq mi
ZIP Area
495
Density / Sq Mi
$59,808
Median Household Income
$45,987
Median Earnings
$933
Median Rent
$157,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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
