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    1321 Commonwealth Ave Duluth, MN 55808

    Sponsored
    For Sale
    $349,500

    Prime Duluth location, bar & apartments. High rental income potential.

    Property size:
    3,216 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property at 1321 Commonwealth Ave in Duluth, Minnesota, presents a compelling business and investment opportunity. The 3,216 square foot building, constructed in 1916, boasts a fully operational bar featuring original wood finishes, stand-up beer coolers, a walk-in keg cooler, and a soda cooler. Adding to its appeal is a fenced outdoor recreation area complete with fire pits, horseshoe pits, and a band stage, perfect for hosting events without needing party permits. The property also includes two apartments, providing additional rental income streams. Conveniently located near public transportation and local stores, this property offers significant advantages. The sale includes the existing rental license, fixtures, and equipment. Recent improvements include a 2023 remodel of the bar's bathrooms. Ample parking is available with 14 off-street spots and a two-car garage providing extra storage. The property is zoned for business/commercial use. This is a rare chance to own a thriving business and generate substantial rental income. Don't miss this opportunity to establish your own business in a desirable Duluth location.

    Property Features for 1321 Commonwealth Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,216 SF

    Building Details

    Year Built
    1916
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Auto Repair Shop Accounting Firm Wholesale Shop Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St Louis
    State
    Minnesota
    Longitude
    -92.226757
    Latitude
    46.6711707

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Duluth location, bar & apartments. High rental income potential.
    Where is this mixed-use property located?
    The property is located at 1321 Commonwealth Ave Duluth, MN.
    What is the asking price?
    The asking price for this property is $349,500.
    (218) 728-5161
    Request Owner's contact information
    1321 Commonwealth Ave Duluth, MN 55808
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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
    1321 Commonwealth Ave Duluth, MN 55808
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