1301 Miller Trunk Hwy Duluth, MN 55811
Property profile & analytics
1301 Miller Trunk Hwy Duluth, MN 55811
- Commercial real estate
- 11,402 SF
- 3.56 lot acres
Property ID
US46-0498455
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Patrick Riley / Gym & Fitness Center
- Arla Spencer / Physician
- Ann Sudoh / Physician
- Daniel Lee Mark / Physician
- Kenji Peter Sudoh / Physician
Property Details for 1301 Miller Trunk Hwy
- Year built
- 1933
- Lot size
- 3.56 lot acres
- Property size
- 11,402 SF
- Property type
- Commercial real estate
- APN
- 010-2710-04670
- APU
- 10271004670
Description
This exceptional investment opportunity presents a fully leased, Class B office building located at 1301 Miller Trunk Hwy, Duluth, MN 55811. The Highland Professional Center boasts 11,591 square feet of net rentable space, currently housing two credit-rated tenants: Essentia Orthopedics and Northway Avademy. The property features a strong 7.56% cap rate, generating a net operating income (NOI) of $242,000. Built in 1933 and extensively renovated in 2023, this single-story building sits on a 16,100 square foot lot zoned MU-C. The current lease, a triple-net (NNN) agreement, has a remaining term of approximately five years, with a lease expiration date of November 29, 2029. The lease includes annual rent bumps of 3%, ensuring consistent income growth. The asking price is $3,200,000, translating to a price per square foot of $276.08. This property benefits from its prime location on Miller Trunk Highway and the ongoing residential and commercial development in the area, making it a secure and attractive long-term investment. The lease commenced on August 31, 2019, and has a 1-5 year option. This is a rare opportunity to acquire a stable, high-performing asset in a thriving market.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,715,000
Market price range: $458k - $1.86M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $2,220,000 Current use
- INDUSTRIAL (GENERAL)
- $2,350,000 Change: +6% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Duluth
- County
- St. Louis
- State
- Minnesota
- Longitude
- -92.1543
- Latitude
- 46.8051
- CBSA code
- 20260
- CBSA name
- DULUTH, MN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$70,300
$766,300
$1,083,200
$1,849,500
-
$766,300
$1,083,200
$1,849,500
