332 W Superior St - Office FOR SALE


Duluth, MN 55802- Downtown Duluth
$2,925,000 USD
612-413-4200
332 W Superior St, Duluth, MN for Sale
$2,925,000 USD
Office - FOR SALE
1/8
null | 8.42% Cap Rate

332 W Superior St
Duluth, MN 55802
Downtown Duluth


HIGHLIGHTS

  • Nearly Fully Occupied Building
  • Prominent Building
  • Well-Maintained Building
  • Market Advantage
  • Strategic Economic Hub
  • Vibrant Community

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,925,000 USD

PRICE/SF

$71 USD /SF

CAP RATE

8.42%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Providence Building

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

7

BUILDING CLASS

B

YEAR BUILT

1895

SPRINKLERS

-

PARKING SPACES

210

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,891 SF

ZONING

Commercial

APN/PARCEL ID

010041000840

ASK ABOUT THIS PROPERTY

Brian BriskyBrisky Net LeaseMore Info
612-413-4200

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Brian BriskyBrisky Net LeaseMore Info
612-413-4200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.