Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    118 Superior St Duluth, MN 55802

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Duluth location, 5,750 sq ft office.

    Property size:
    5,750 SF

    Property Features for 118 Superior St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    5,750 SF

    Building Details

    Buildings
    1
    Stories
    3

    We can help!

    Listing Contact
    Greg Follmer
    Greg Follmer

    Listing Agency: Follmer Commercial Real Estate Listing Agent: Greg Follmer

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

    Learn more

    Property Insight Report

    Overview

    This three-story, 5,750 square foot office building in Duluth, Minnesota's vibrant downtown HART District, is offered at $895,000 ($155.65/sq ft). The property boasts a prime location at 118 E Superior St, zip code 55802, and features a main floor adaptable for retail use, a second floor with stunning Lake Superior views, and a full basement with Michigan Street access. An ADA-compliant lift provides convenient access to the upper floors. The second floor's lake views present a high-end condo or Airbnb conversion opportunity. Onsite parking is available. The building sits on a 25x115 lot. Property taxes are to be determined. The building is currently owned by a non-profit organization. This presents a unique opportunity to acquire a versatile property in a rapidly developing area of Duluth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Access North Home Health Care Service Lake Place Inc Accounting Firm

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Law Firm Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.09628314071
    Latitude
    46.788397408348

    Nearby Similar for Sale

    • New
      $499,900
      8,000 SF

      Downtown Duluth Mixed-Use Building

      Character-filled commercial building with storefronts and event venue.
      21 N Lake Ave, Duluth, MN 55802
      View Details
    • $419,900
      3,590 SF

      East Hillside Duplex Opportunity

      Two side-by-side duplexes near the lake, schools, and downtown.
      10-12 S 16Th Ave E, Duluth, MN 55812
      View Details
    • $265,000
      2,208 SF

      Duluth Duplex with Lake Views

      Centrally located Duluth duplex with income potential and lake views.
      523 N 1St Ave E, Duluth, MN 55805
      View Details
    • $535,000
      2,172 SF

      Profitable Commercial Space in Duluth

      Turnkey business opportunity with salon and shake shop.
      222 N Central Ave, Duluth, MN 55807
      View Details
    • $189,900
      1,610 SF

      Duluth Duplex with Income Potential

      Charming Duluth duplex, ideal for investors or owner-occupants.
      620 N 57Th Ave W, Duluth, MN 55807
      View Details
    • Contact for pricing
      48,300 SF

      Downtown Duluth Office Building

      Nearly fully occupied office building in downtown Duluth.
      332 W Superior St, Duluth, MN 55802
      View Details
    • $315,000
      2,178 SF

      Classic Duluth Fourplex Opportunity

      Four-unit multifamily property in a central Duluth location.
      517 E 5Th St, Duluth, MN 55805
      View Details
    • Contact for pricing
      14,112 SF

      Fully Occupied Mixed-Use Building

      Mixed-use retail/office building in downtown Duluth with parking ramp.
      331 W Superior St, Duluth, MN 55802
      View Details
    • Contact for pricing
      15,631 SF

      Retail Property in West Duluth

      Retail property in Duluth's West Duluth neighborhood.
      4609-4615 Grand Ave, Duluth, MN 55807
      View Details
    • $2,357,000
      15,631 SF

      Two-Tenant Retail in Duluth, MN

      Two-tenant retail property with new 10-year lease in Duluth.
      4615 Grand Ave, Duluth, MN 55807
      View Details
    • $1,900,000
      33,656 SF

      Duluth Foundry: 3 Buildings, 23 Acres

      Prime Industrial Property - 33,656 SF
      2301 Commonwealth Ave, Duluth, MN 55808
      View Details
    • $400,000
      0.86 Acres

      Duluth Mixed-Use Property Investment

      Prime Duluth location, 0.86-acre lot, $400,000.
      1633 Maple Grove Rd, Duluth, MN 55811
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Duluth location, 5,750 sq ft office.
    Where is this office property / space located?
    The property is located at 118 Superior St Duluth, MN.
    What is the asking price?
    The asking price for this property is $895,000.
    (218) 310-0013 Call to check price and availability
    Request Owner's contact information
    118 Superior St Duluth, MN 55802
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    118 Superior St
    Duluth, MN 55802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    118 Superior St Duluth, MN 55802
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Greg Follmer
    Greg Follmer
    Real Estate License ID: 27078
    (218) 310-0013
    Learn more
    Google sign-in failed. Please try again or use another login method.