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4615 Grand Ave
$2,525,000
4615 Grand Avenue, Duluth, MN 55807
For Sale
Retail
Neighborhood Center
Active
Last Updated: 01/09/2025
7
Cap Rate
189,254
NOI
Details:
Cap Rate: 7%
NOI: $189,254
Building Size: 15,631 sqft
Lot Area: 0.909 acres
Occupancy: 100%
Year Built: 1998
Price Per Sqft: $162
Zoning: MU-N (Mixed-Use Neighborhood)
Tenancy: Multiple
Parking Spots: 39
Gross Leaseable Area: 15,631
Parking Ratio: 2.51
Roof: Original adhered EPDM (1998)
HVAC: Four (4) RTUs of verying ages ranging from 5-15 tons
Description:
New 10-Year Goodwill lease (Opening March 2025)
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
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
Documents:
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Duluth__4615_Grand_Ave_Flyer_HR.pdf
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Location
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