5710 Grand Avenue, Duluth, MN

Retail for Sale - $4,000,000 - 86,611 Sq. Ft. on 3.31 acres


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Agent Info

NameColter Johnson

Property Info

CIMLS #1025314
Location5710 Grand Avenue
Duluth MN 55807
Last UpdatedSeptember 6th, 2018
TypeRetail
Price$4,000,000
Building86,611 Sq. Ft.
Land3.31 acres
DemographicsView data

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Property Description

Wakota Commercial Advisors in conjunction with Marcus & Millichap is pleased to exclusively present for your acquisition review the Former Kmart building in Duluth, Minnesota. The building is comprised of some 86,611+/- square feet and is positioned with excellent visibility at the intersection of I-35 & Central Ave.

The building was a build-to-suit construction for Kmart in 1991 and was built in-line with the Spirit Valley Mall. Spirit Valley Mall is a 70,850 square foot mall anchored by tenants such as Anytime Fitness, Dollar Tree, United States Postal Service, Cost Cutters, Access Music Therapy and several others. Spirit Valley Mall is currently 98 percent occupied and has held a strong historical occupancy, providing an investor with reassurance of a hopeful backfill opportunity for the former Kmart space. Along with the Spirit Valley Mall, additional retail traffic drivers within the area include McDonalds, Menards, Super One Foods, Laura MacArther Elementary School, CVS, Taco Johns, Walgreens, Whole Foods, and Arby’s.

The former Kmart building benefits from its strategic location off of I-35, a four-lane, North/South highway that is the major artery from Minneapolis/St. Paul to Duluth. Duluth has a population of 86,293 and is located in North East Minnesota 156 miles straight North of Minneapolis, Minnesota and straight West of Superior, WI 5 miles. Duluth spans across 43,000 acres featuring 25 miles of shoreline, 23 city parks, 8 hiking trails, 45 miles of snowmobiling trails and numerous creeks, rivers and waterfalls.

 86,611 Square Foot Former Kmart Building

 Build-to-Suit for Kmart in1991

 Positioned In-Line with Spirit Valley Mall | Anchors Include Anytime Fitness, Dollar Tree, U.S.P.S. & Cost Cutters  Adjacent to the Verso Corporation Mill

 Sits down the street from Menards | Consistent Traffic Counts

 Immediate Access to Interstate 35

 5-Mile Population: 59,440 | 5-Mile Average HH Income: $55,627


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