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    1611 Maple Grove Rd Duluth, MN 55811
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    1611 Maple Grove Rd Duluth, MN 55811

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    • Commercial land
    For Sale
    $1,000,000
    View Listing →
    Land Parcel in Growing Area For Sale
    $1,000,000

    Land Parcel in Growing Area

    Commercial land parcel with high visibility and development potential.

    1611 Maple Grove Rd, Duluth, MN 55811
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    Property ID
    US46-0721148
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial land

    Property Details for 1611 Maple Grove Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    The landscape is changing.... New development is happening that is hemming this parcel in from the east with District Flats, bringing in 72 new apartments, from the north with La Quinta and on the west, the newly built Affinity Credit Union is open for business. Currently, across the road under construction, is the new Fairfield Inn and Suites. Great momentum that will only increase as available land in the Miller Hill area is being consumed and new businesses opening. Maple Grove Rd has been reconstructed by MNDot, to deliberately direct traffic from the highway here, the new frontage road for your typical stop and go commercial traffic, giving your business good visibility! This parcel has City of Duluth water, gas, sewer, and electricity by MN Power. The site has ample space for your building, parking, ingress/egress needs, and water retention. You will be surrounded by these great neighbors and many more, with 200+ neighboring businesses. Now is a great time to move or expand your business in the Northland!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.1591475
    Latitude
    46.8077835

    Comparable in this City

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      2.5-acre commercial land with high visibility near Miller Hill Mall.
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      Development Site Near Maple Grove

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      Prime Miller Hill Mall Lot

      Commercial land with high visibility in a prime retail corridor.
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    • $189,500

      Commercial Land Near Transportation Hubs

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      Prime Development Site Available

      Top development site with direct visibility in Duluth, MN.
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    • $149,500

      Hermantown Commercial Land Opportunity

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      Prime Land on Rice Lake

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      Prime Miller Hill Mall Area

      2.5-acre commercial land with high visibility near Miller Hill Mall.
      1635 Maple Grove Rd, Duluth, MN 55811
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      Development Site Near Maple Grove

      High-visibility development site near Hermantown and Duluth.
      2546 Maple Grove Rd, Duluth, MN 55811
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      Prime Retail Outlot Opportunity

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      32,760 SF

      Spacious Industrial Warehouse For Rent

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      1,620 SF

      Retail Space in Central Entrance

      Retail space available in expanding central entrance corridor.
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      Former Drive-Thru on Central Entrance

      Former drive-thru with great access and visibility.
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      East Central Entrance Office Suite

      Highly visible suite in expanding central entrance corridor.
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    Duluth, 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
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