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    5289 Rice Lake Rd Duluth, MN 55803

    For Sale
    $895,000

    8,832 SF Retail Space, $895,000

    Property size:
    8,832 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional storefront property, located at 5289 Rice Lake Rd in Duluth, Minnesota, presents a compelling investment opportunity. Priced at $895,000, this 8,832 square foot building sits on a 2.27-acre lot and offers a unique blend of retail and potential multi-use functionality. Constructed in 1989, the two-story structure features a main floor ideally suited for retail operations, complete with a rear production area. The expansive upper level provides ample storage space, with the potential for conversion into additional rental units, further enhancing the property's income potential. The property boasts excellent visibility and convenient access from Highway 4. Its self-sufficient infrastructure includes a private well and septic system, minimizing reliance on municipal services. The property's address is 5289 Rice Lake Rd, Duluth, MN 55803, and its parcel number is 520-0014-00011. This versatile property is ready for a new owner to capitalize on its prime location and adaptable layout, making it an attractive investment for a variety of businesses. The price per square foot is $101.34. The building consists of one unit across one building.

    Property Features for 5289 Rice Lake Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    8,832 SF

    Building Details

    Year Built
    1989
    Buildings
    1
    Stories
    2
    Units
    1

    HighLights

    • $895,000 asking price for this retail storefront.
    • 8,832 square feet, with a price per square foot of $101.34.
    • Located at 5289 Rice Lake Rd, Duluth, MN 55803.
    • Single‑unit, two‑story building constructed in 1989, situated on a 2.27‑acre lot.
    • Features a main floor ideal for retail, with a rear production area, and a spacious upper level suitable for storage or conversion to rental units.
    • Includes a private well and septic system.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Artistic Anglers Taxidermist

    Suggested Use

    Building Supply Auto Repair Shop Electrical Service Furniture Store Bike Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.1545328
    Latitude
    46.8942765

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    FAQs

    What type of property is this?
    Individual retail property - 8,832 SF Retail Space, $895,000
    Where is this individual retail property located?
    The property is located at 5289 Rice Lake Rd Duluth, MN.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: $895,000 asking price for this retail storefront.; 8,832 square feet, with a price per square foot of $101.34.; Located at 5289 Rice Lake Rd, Duluth, MN 55803.
    Request Owner's contact information
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    Duluth, MN 55803
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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
    5289 Rice Lake Rd Duluth, MN 55803
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