Listed by Mid America Real Estate Minneapolis
$2,357,000
Goodwill - 2-Tenant Retail Building
Details
Property Type Retail
Sub Type Storefront
Square Footage 15,631
Net Rentable (SqFt) 15,631
Units 2
Cap Rate 8.00%
NOI $188,622
Occupancy 100%
Tenancy Multi
Brand/Tenant Goodwill
Lease Type NN
Price per SqFt $151
Year Built 1998
Buildings 1
Stories 1
Acreage 0.909
Zoning MU-N (Mixed Use Neighborhood)
Two-tenant retail building featuring a brand new lease with Goodwill in 70% of the property.
Marketing description
New to market, two-tenant retail in Duluth, MN with new 10-year tenant signed October 2024.
Investment highlights
- New 10 Year Goodwill Lease
- Busy Intersection with 20,803 VPD
- 'Hidden Gem' west Duluth neighborhood with 30k+ people within 3 miles
- College town with over 25,000 students
- Duluth is the 2nd largest economy in the state with a trade area of over 548k people
- “Hidden Gem” West Duluth neighborhood with 30k+ people in 3 miles
- Duluth has a low retail vacancy rate of 2% with high barriers to entry
- Goodwill true north has 100+ year history with 11 stores across northern Minnesota and Wisconsin
- New silicone roof coating with 15 year total system warranty
Listing Contacts
Listed by Mid America Real Estate Minneapolis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$188,622.00
$15,718.50/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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Property History
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