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    4615 Grand Ave Duluth, MN 55807

    Sponsored
    For Sale
    $2,700,000

    High-Yield Duluth Storefront, 100% Occupied

    Property size:
    15,631 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 15,631 square foot, single-story retail building located at 4615 Grand Ave, Duluth, Minnesota. The property boasts a strong 7.01% cap rate and a substantial NOI of $189,254, supported by a newly signed 10-year lease with Goodwill occupying 70% of the space (commencing October 2024). The building sits on a 0.909-acre lot and features two units, constructed in 1998, within the MU-N (Mixed Use Neighborhood) zoning district. The property benefits from a high-traffic location at a busy intersection with 20,803 vehicles per day, serving a densely populated area with over 30,000 residents within a three-mile radius. Duluth's robust economy, the presence of a major university with over 25,000 students, and a low retail vacancy rate of 2% further enhance the investment potential. Goodwill, a well-established tenant with a long history in the region, adds stability and reliability to this income-producing asset. This is a rare opportunity to acquire a high-performing retail property in a thriving Minnesota market. The asking price is $2,700,000, translating to $172.73 per square foot.

    Property Features for 4615 Grand Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    15,631 SF
    Lot Size
    39,596 SF

    Building Details

    Year Built
    1998
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • New 10‑year lease with Goodwill commencing October 2024.
    • Busy intersection with 20,803 vehicles per day (VPD).
    • Strong West Duluth location, serving a 3‑mile radius with over 30,000 residents.
    • College town with over 25,000 students.
    • Duluth boasts the second‑largest economy in Minnesota, serving a trade area of over 548,000 people.
    • Low 2% retail vacancy rate with high barriers to entry.
    Property Profile Location Intelligence

    Current Use by Public Records

    Parsons Electric Electrician NUWAY - Duluth Counseling ... Addiction Treatment Center ArchKey/Parsons Electric Duluth ... Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.16026964
    Latitude
    46.7451831

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Duluth Storefront, 100% Occupied
    Where is this individual retail property located?
    The property is located at 4615 Grand Ave Duluth, MN.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: New 10-year lease with Goodwill commencing October 2024.; Busy intersection with 20,803 vehicles per day (VPD).; Strong West Duluth location, serving a 3-mile radius with over 30,000 residents.
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    Realmo Value Estimation

    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.

    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.

    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
    4615 Grand Ave Duluth, MN 55807
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