301 1St St Duluth, MN 55802
- Commercial real estate
- 106,876 SF
Current Use by Public Records
- Inner Fokus / Psychologist / Psychotherapist
- Dr. Patrick Aleknavicius / Psychologist / Practitioner Service Location
- Northern Waters Photography / Commercial Photographer / Photographer
- Schindler Elevator Corporation / Elevator Service / Home Goods Store
- Minnesota Department Public Safety / Police Department
Property Details for 301 1St St
- Year built
- 1895
- Property size
- 106,876 SF
- Property type
- Commercial real estate
- APN
- 010-3964-00010
- APU
- 10396400010
Description
The Board of Trade, a magnificent 74,000 square foot office building located at 301-307 W 1st St, Duluth, MN 55802, presents a unique investment opportunity. Built in 1895 in St. Louis County, this property offers a blend of traditional office space and coworking potential, accommodating multiple tenants. Currently, there are 23,465 square feet of vacant space available, ranging from 487 to 8,299 square feet. Recent renovations have significantly enhanced the building's appeal, including the polishing of all brass doors and fittings, a thorough cleaning of commercial windows, and the caulking of windows to prevent air penetration. New awnings have been installed, and custom rugs have been added to the building entryways. The removal of existing window air conditioning units has streamlined the aesthetic, and touch-up painting has refreshed the interior. A new access panel for visitors has been added for improved convenience. Further enhancements are planned, potentially including tree plantings in collaboration with the city. This historic building offers a compelling opportunity for businesses seeking a prestigious and well-maintained office space in a vibrant Duluth location. The building's substantial size and flexible layout cater to a variety of tenant needs, making it an ideal investment for both traditional office users and those seeking a modern coworking environment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $650,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $760,000
- 6.5%
- $720,000
- 7%
- $685,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $845,000
- Geo Method
- $765,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $715,000
- Retail
- $690,000
- Mixed-Use
- $875,000
- Hospitality
- $845,000
- Educational
- $780,000
- Residential Income
- $775,000
- Energy
- $720,000
- Income-Based Land
- $805,000
- Food Service
- $845,000
Location Insight
- Map
- Local Demand
- City
- Duluth
- County
- St. Louis
- State
- Minnesota
- Longitude
- -92.1036
- Latitude
- 46.7848
- CBSA code
- 20260
- CBSA name
- DULUTH, MN-WI METROPOLITAN STATISTICAL AREA
