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    Property profile & analytics

    Duluth, MN 55802

    • Warehouses
    • 88,800 SF
    OFF-MARKET
    Last Sale
    Feb 27, 2020
    Value Estimations
    $3,625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1609796
    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.

    Current Use by Public Records

    • Warehouses

    Property Details

    Year built
    2002
    Property size
    88,800 SF
    Property type
    Warehouses
    APN
    010-3910-07800
    APU
    10391007800

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $5,870,000
      INDUSTRIAL (GENERAL)
      $5,140,000
      COMMERCIAL (GENERAL)
      $4,660,000
      MEDICAL BUILDING
      $2,630,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Duluth
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.0964
    Latitude
    46.7549
    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
    $0.00
    $148,500
    $3,810,400
    $3,958,900
    -
    $148,500
    $3,810,400
    $3,958,900

    Comparable in this City

    • Value Estimation
      $7,020,000
      181,440 SF

      Duluth, MN 55802

      WAREHOUSE, STORAGE • 181,440 SF
      Duluth, MN 55802
      View Details
    • Value Estimation
      $2,570,000
      59,840 SF

      1400 Prt Terminal Rd

      WAREHOUSE, STORAGE • 59,840 SF
      1400 Prt Terminal Rd, Duluth, MN 55802-2697
      View Details
    • Value Estimation
      $705,000
      13,932 SF

      1105 Prt Terminal Rd

      WAREHOUSE, STORAGE • 13,932 SF
      1105 Prt Terminal Rd, Duluth, MN 55802-2620
      View Details
    • Value Estimation
      $1,335,000
      28,301 SF

      1102 Prt Terminal Rd

      WAREHOUSE, STORAGE • 28,301 SF
      1102 Prt Terminal Rd, Duluth, MN 55802-2619
      View Details
    • Value Estimation
      $2,640,000
      62,760 SF

      1130 Prt Terminal Rd

      WAREHOUSE, STORAGE • 62,760 SF
      1130 Prt Terminal Rd, Duluth, MN 55802
      View Details
    • Value Estimation
      $7,020,000
      181,440 SF

      1210 Prt Terminal Rd

      WAREHOUSE, STORAGE • 181,440 SF
      1210 Prt Terminal Rd, Duluth, MN 55802-2609
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,680 SF

      Downtown Duluth Retail/Office Opportunity

      Historic building with exposed brick, high ceilings, and prime location.
      323 W Superior St, Duluth, MN 55802
      View Details
    • Contact for pricing
      14,000 SF

      Lincoln Park Commercial Building For Sale

      14,000 SF building in Lincoln Park's Craft District.
      2023 W Superior St, Duluth, MN 55802
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    • $128,000
      40.00 Acres

      40 Acres of Cedar Forest

      40-acre wooded parcel near Duluth, Minnesota, ideal for nature lovers.
      Xx40 Lavaque Rd, Duluth, MN 55802
      View Details
    • $895,000
      5,750 SF

      Downtown Duluth Office Building

      Prime Duluth location, 5,750 sq ft office.
      118 Superior St, Duluth, MN 55802
      View Details
    • New
      $47,000
      Pending

      10 Acres of Cedar Forest

      10 acres of pristine cedar forest near Duluth, Minnesota.
      Xx10 Lavaque Rd, Duluth, MN 55802
      View Details
    • Contact for pricing
      48,300 SF

      Downtown Duluth Office Building

      Nearly fully occupied office building in downtown Duluth.
      332 W Superior St, Duluth, MN 55802
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,000 SF

      Spacious Warehouse Near Hart District

      21,000 SF warehouse with garage door access for rent.
      214 E 1St St, Duluth, MN 55802
      View Details
    • Contact for pricing
      8,300 SF

      Duluth Warehouse with Heavy Slab

      8,300 SF Duluth warehouse featuring heavy slab and cranes.
      4110 W Superior St, Duluth, MN 55802
      View Details
    • $9 SF/Yr
      5,123 SF

      Downtown Duluth Executive Office Space

      5,123 SF Single-Tenant Office in Duluth, MN
      213 Michigan St, Duluth, MN 55802
      View Details
    • Contact for pricing
      74,000 SF

      Historic Duluth Office Building

      74,000 SF Office Space, 23,465 SF Vacant
      301 1St St, Duluth, MN 55802
      View Details
    • Contact for pricing
      7,504 SF

      Downtown Duluth Office Space Available

      Move-in ready, furnished office suites with parking and skywalk access.
      230 W Superior St, Duluth, MN 55802
      View Details
    • Contact for pricing
      2,333 SF

      Duluth Office Space For Lease

      Office space available for lease in Duluth, Minnesota.
      925 E Superior St, Duluth, MN 55802
      View Details
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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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