Mixed-Use Building on 2.3
For Sale
Contact for pricing
4891 Miller Trunk Hwy, Hermantown, MN 55811
7,688 SF mixed-use building with high traffic visibility.
Property Size7,688 SF
Lot Size2.30 Acres
Price / SF$169.09
Days on Market1295
Property Features for 4891 Miller Trunk Hwy
General Information
Standard status
Active
Size
7,688 SF
Lot size
2.30 Acres
Property subtype
Mixed Use, Office
Zoning
Commercial
Lease Type
Modified Gross
Building Details
Year Built
1955
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Consulting, Management & Realty Associates LLC
Listed By:
Beth Wentzlaff · License #MN 20396394
(218) 727-0064
Source:
Crexi
Added: Mar 21, 2023
Changed: Oct 3
Last Checked: Oct 4 at 10:14AM
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 Consulting, Management & Realty Associates LLC
Investment Insights
Based on property information with market context.
The property features a 7,688 square foot building constructed in 1955, situated on 2.3 acres. It benefits from extraordinary visibility and a daily traffic count of 19,200 vehicles in 2021. The location is approximately 1/2 mile from Duluth International Airport. The property includes cross easements for easy access to a controlled intersection. It is currently occupied by multiple tenants, including a lot lease for an auto dealer and a shed dealership. The property is professionally managed by CMRA, LLC.
Key Highlights
- Extraordinary visibility with high traffic count of 19,200 daily in 2021.
- Large 7,688 sq ft building on 2.3 acres.
- Multi‑tenant structure with existing leases, currently housing an auto dealer and shed dealership.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,644
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,132,880
$2.1M
Cap Rate 7%
$1,523,486
$1.5M
Cap Rate 9%
$1,184,933
$1.2M
Market Conditions
NOI Build-Up for 7,688 SF
Gross rent
$191.9K $24.96/SF
− Vacancy
−$49.7K −$6.46/SF
EGI
$142.2K $18.50/SF
− OpEx
−$35.5K −$4.62/SF
NOI
$106.6K $13.87/SF
Area
St. Louis County, MN
Vacancy
25.90%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,132,880
Cap Rate 7%
$1,523,486
Cap Rate 9%
$1,184,933
Alternative Uses
Best Use
Mixed Use
$2.49M
$2.17M – $2.90M
NOI $173,967 @ 7.0% cap · market cap 13.38%
Second Best
Office B
$1.52M
$1.33M – $1.78M
NOI $106,644 @ 7.0% cap · market cap 8.20%
Theoretical Best
Specialty Retail
$2.98M
$2.61M – $3.48M
NOI $208,761 @ 7.0% cap · market cap 16.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 55811, MN
27,761
Population
11,640
Households
2.4
Avg Household Size
40
Median Age
41%
College-Educated
96%
High-School Grad
64.5 sq mi
ZIP Area
430
Density / Sq Mi
$77,877
Median Household Income
$38,284
Median Earnings
$1,339
Median Rent
$299,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 7,688 SF mixed-use building with high traffic visibility.
Where is this mixed-use property located?
The property is located at 4891 Miller Trunk Hwy Hermantown, MN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Extraordinary visibility with high traffic count of 19,200 daily in 2021.; Large 7,688 sq ft building on 2.3 acres.; Multi‑tenant structure with existing leases, currently housing an auto dealer and shed dealership.
