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    1309 Avenue Cloquet, MN 55720

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    For Sale
    Contact for pricing

    18,812 SF Flex Space, $850,000

    Property size:
    18,812 SF

    Property Features for 1309 Avenue

    General Information

    Property type
    Individual retail properties
    Square Feet
    18,812 SF

    Building Details

    Year Renovated
    1995
    Buildings
    1

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    Listing Contact
    Jesse Carlson
    Jesse Carlson

    Listing Agency: Titanium Partners, LLC Listing Agent: Jesse Carlson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This versatile 18,812 square foot mixed-use building in Cloquet, Minnesota, presents a unique investment opportunity. Situated on a 31,822 square foot lot, this single-tenant property boasts a prime C-2 General Business zoning designation. Originally constructed in phases between 1935 and 1955, with significant renovations in 1995, the building features a blend of office and warehouse/production space. The layout includes ten offices and three bathrooms, offering flexibility for various business needs. Office space is easily reconfigurable to suit specific requirements. The expansive warehouse area comprises two large wings, each with impressive 14-15 foot ceilings, ideal for warehousing or light manufacturing. The property benefits from excellent loading capabilities, including a semi-loading dock, a parcel dock, and three additional overhead doors. The west wing received a complete roof and HVAC system upgrade in 2019, further enhancing its functionality. Additional features include air compressors and three-phase power. The asking price is $850,000, a significant savings compared to the estimated $6 million+ cost of new construction. This NNN lease property offers a compelling opportunity for owner-occupancy or investment. The property's history includes use as light manufacturing (K1 Sportswear) and retail, demonstrating its adaptability to diverse business models.
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cloquet
    County
    Carlton
    State
    Minnesota
    Longitude
    -92.449615456597
    Latitude
    46.722208277887

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    FAQs

    What type of property is this?
    Individual retail property - 18,812 SF Flex Space, $850,000
    Where is this individual retail property located?
    The property is located at 1309 Avenue Cloquet, MN.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: $850,000 asking price for this 18,812 square foot multi-use building.; Located in Cloquet, MN, this property is zoned C-2 General Business and features a mix of flex, manufacturing, and retail space.; The building includes four loading docks (one semi-loading dock, one parcel dock, and two overhead doors).
    (218) 213-6648 Call to check price and availability
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    1309 Avenue Cloquet, MN 55720
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1309 Avenue Cloquet, MN 55720
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jesse Carlson
    Jesse Carlson
    Real Estate License ID: 40503294
    (218) 213-6648 (218) 461-4344
    Learn more
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