215 N Central Avenue, Duluth, MN

Retail for Sale - $3,038,000 - 70,850 Sq. Ft. on 6.19 acres


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Agent Info

NameColter Johnson

Property Info

CIMLS #1025315
Location215 N Central Avenue
Duluth MN 55807
Last UpdatedSeptember 6th, 2018
TypeRetail
Price$3,038,000
Building70,850 Sq. Ft.
Land6.19 acres
DemographicsView data

Contact


Property Description

Wakota Commercial Advisors in conjunction with Marcus & Millichap is pleased to exclusively present for your acquisition review Spirit Valley Mall. A shopping center comprised of 1 buildings totaling 64,052 square feet in Duluth, Minnesota. The center is positioned at the intersection of I-35 & Central Ave. With Great visibility, and tenancy.

Spirit Valley Mall is currently 99.5 percent occupied with 1 unit with a total of 837square feet of releasable vacancy along with 4 tenants on month to month basis totaling 6,881square feet of possible upside. The tenant base consists of a complimentary mix of local tenants and National tenants (Dollar Tree, USPS, Anytime Fitness, Cost Cutters) that provides consumers with a wide range of products and services including restaurants, discount goods, and much more. 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 Spirit Valley Mall 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.

This Center offers an incoming investor the opportunity to acquire a stabilized shopping center with upside opportunity in a great market with limited competition.

 70,850 Square Foot Shopping Mall

 98% Occupancy | Fully Stabilized

 Strong Tenant Mix | Anchors Include Dollar Tree, Anytime Fitness, Discount Duluth & Solutions Insurance  High-Upside | Converting Month-toMonth Leases to Long-Term Leases

 Additional Upside in Converting Gross Leases to Triple Net

 Immediate Access to Interstate 35

 Ideally Positioned down the street from Menards | Consistent Traffic Counts


Location & Street View


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