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    4891 Miller Trunk Hwy Hermantown, MN 55811

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    For Lease
    Contact for pricing

    St. Louis County medical office space available

    Lot size:
    7,688 SF

    Property Features for 4891 Miller Trunk Hwy

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,688 SF
    Total Rate
    10865.71

    Building Details

    Year Built
    1955
    Buildings
    1
    Stories
    2

    Spaces For Lease

    at 4891 Miller Trunk Hwy, Hermantown, MN 55811 Contact us
    Unit Available Space 1Suite 100

    $16 /Mo

    Size
    1,173 SF
    Contact us

    We can help!

    Listing Contact
    Beth Wentzlaff
    Beth Wentzlaff

    Listing Agency: Consulting, Management & Realty Associates LLC Listing Agent: Beth Wentzlaff

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 1,173 square foot medical/traditional office space is located in the Woodridge Professional Center, Suite 100, in the Hermantown submarket of St. Louis County. The building, constructed in 1955, is a two-story structure totaling 7,688 square feet and features a single building with multiple tenants. Currently, 1,173 square feet are available for lease. The property boasts extraordinary access and visibility, a significant advantage for any business. Its convenient location is only a half-mile from the Duluth International Airport, ensuring easy access for clients and employees. The building benefits from a controlled intersection, enhancing visibility and accessibility. Lease terms are flexible, offering options for 3-5 year agreements at competitive rates. The lease is a modified gross lease, with tenants responsible for a proportionate share of electricity costs. Ample free parking is provided for tenants and their clients. This presents a unique opportunity for businesses seeking a well-located, accessible, and attractively priced office space in a thriving area. The property is ideal for medical practices or other professional services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Hermantown
    County
    St Louis
    State
    Minnesota
    Longitude
    -92.1943684
    Latitude
    46.8273605

    Nearby Similar for Lease

    • $20 SF/Yr
      13,869 SF

      North Shore Bank Place Office Space

      Prime Medical/Executive Office Suites Available
      4815 Arrowhead Rd, Hermantown, MN 55811
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    • Contact for pricing
      3,111 SF

      Hermantown Office/Warehouse Space Available

      Office/warehouse/light manufacturing space available January 1, 2026.
      4177-4183 Thunderchief Ln, Hermantown, MN 55811
      View Details
    • Contact for pricing
      2,599 SF

      Hermantown Office Space For Rent

      Office space available in Hermantown with great visibility.
      4810 Miller Trunk Hwy, Hermantown, MN 55811
      View Details

    FAQs

    What type of property is this?
    Medical office - St. Louis County medical office space available
    Where is this medical office located?
    The property is located at 4891 Miller Trunk Hwy Hermantown, MN.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 7,688 SF medical/traditional office building in St. Louis County's Hermantown submarket.; 1,173 SF of vacant space available for lease.; Two-story building constructed in 1955.
    (218) 727-0064 Call to check price and availability
    Request Owner's contact information
    4891 Miller Trunk Hwy Hermantown, MN 55811
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    Hermantown, MN 55811
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    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
    4891 Miller Trunk Hwy Hermantown, MN 55811
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Beth Wentzlaff
    Beth Wentzlaff
    Real Estate License ID: 54027090
    (218) 727-0064
    Learn more
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