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28251888
28251889

332 W Superior St, Duluth, MN 55802

BB
MN MN 40546562, WI WI 56114 (+1)
Brisky Net Lease
MM
40725272
Brisky Net Lease
Listed by Brisky Net Lease
$2,925,000
203 days on market
Updated 18 days ago
Opportunity zone

Providence Building | Duluth, MN

Details
Property Type Office
Sub Type Traditional Office
Square Footage 48,300
Cap Rate 8.42%
NOI $246,427
Occupancy 94%
Tenancy Multi
Price per SqFt $61
Year Built 1895
Year Renovated 1995
Stories 7
Acreage 0.160
Investment Type Net Lease

Office | 8.42% CAP | 48,300 SqFt

Marketing description

Nearly Fully Occupied Building -
The Providence building has a small vacant unit. Historically, the building has a history of high occupancy rates. Centrally located in downtown Duluth, the building offers excellent visibility, prominent signage, and benefits from high traffic counts.

Prominent Building -
This historic downtown landmark presents a range of possibilities, from maintaining its use as a traditional office space to various conversion opportunities. It features sweeping views of Canal Park and Lake Superior, enhancing its appeal.

Well-Maintained Building -
The building has undergone significant capital improvements, including upgraded windows, new A/C units, modernized elevators, and an improved sprinkler system. The roof receives biannual servicing to ensure optimal maintenance.

Market Advantage -
The Duluth CBD has seen no new office developments in the past decade, with no properties currently under construction, and nothing has been delivered in the downtown CBD submarket for the past ten years.

Strategic Economic Hub -
Duluth serves as a key economic center for northern Minnesota and Wisconsin. Home to the Port of Duluth-Superior, the farthest inland port on the Great Lakes, it plays a crucial role in shipping and logistics for the Upper Midwest.

Vibrant Community -
Duluth offers a dynamic and diverse community with a thriving educational and cultural scene. Residents are deeply connected to the region’s natural beauty, enjoying an abundance of outdoor recreational activities in the city’s picturesque surroundings.

Flexible Seller -
Partial seller financing options are available. Aggressive loan terms are achievable on this package.

Listing Contacts

BB
MN MN 40546562, WI WI 56114 (+1)
Brisky Net Lease
MM
40725272
Brisky Net Lease
Listed by Brisky Net Lease

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$246,427.00
$20,535.58/mo

Valuation Metrics

0
DSCR
8.42%
Cap Rate
8.42%
ROI

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Additional Information

Name
Brian Brisky
License
MN 40546562
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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