For Sale: Duluth MLS# 6772398
Active
NEW!
$1,475,000
Commercial: Apartments/Retail
Built 1900
0.08 acres
Duluth schools
MLS# 6772398
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Incredible brick exterior building in the HEART of Duluth Craft District. Building was fully remodeled in 2021/2022 with all new roof, electric, plumbing, structural reinforcements, interior finishes, and upstairs mechanicals. Building has two commercial spaces on main level and two dwelling units offered as short-term vacation rentals upstairs with separate
entrances.
Building History:
1918 W Superior St was purchased by its current owners in 2020. The entire building was gutted
and rebuilt throughout 2020-2021 with new roof, interior electrical, interior pluming, and interior
finishes. The building consists of 4 individual units consisting of the following:
Interior Layout
• Commercial Lease Space 1 - ~1600 sqft, facing Superior St.
• Commercial Lease Space 2 - ~1200 sqft, facing Michigan St.
• Single Family Dwelling Unit 1- ~1600 sqft, facing Superior St.
• Singled Family Dwelling Unit 2 - ~1450 sqft, facing Michigan St.
• Common Area - ~ 1150 Sqft combined consisting of upstairs hallway, main level hallway, bathroom, front stairway, rear stairway.
Building Specifications:
Construction – Brick, balloon wall framing, engineered ceiling and floor trusses.
Siding – Metal/Brick
Roof – Fully adhered EPDM rubber roof with flashing installed 2021
Roof Top Units – Two 5 ton with separate ducting. RTUs are 13 years old but have only been in use
for 3 years. They were not used the first 10 years after installation. Units are serviced twice a year.
Electrical – (1) 200-amp 3 phase load center serving common area and RTU, (4) 100-amp single
phase load centers serving commercial lease and dwelling units.
Plumbing – All new interior PEX water lines and new PVC drain lines. New water supply line to center of street main connection.
Utilities:
• 5 separate electric meters
• 1 whole building gas meter
• 5 separate water/sewer meters
Trade Partners:
General Contractor – Hazelwood Builders, Duluth MN
Structural Contractor – Knutson Custom Construction, Duluth MN
Structural Engineer – Northland Consulting Engineers, Duluth MN
Architect – Double J Architecture, Duluth MN
Electrical Contractor – Hunt Electric, Duluth MN, Closed Loop Electric, Duluth MN
Plumbing Contractor – AW Kuettel, Duluth MN
Roofing Contractor – AW Kuettel, Duluth MN
Mechanical Contractor – General Heating and Mechanical, Duluth MN, Scott Mechanical, Duluth
MN, Sheet Metal Solutions, Duluth MN
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,475,000
Property Type:
Commercial
City:
Duluth
Garage Spaces:
0
County:
St. Louis
Year Built:
1900
State:
MN
Property Style:
Apartments/Retail
Zip Code:
55806
Subdivision Name:
Duluth Proper Second Div
Interior
Ceiling Height:
11-15
Ranges:
Two
Refrigerators:
Two
Basement Details:
Block
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Central Air, Ductless Mini-Split
Foundation Size:
3,500 ft2
Foundation Dimensions:
25 x 140
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Baseboard
- Ductless Mini-Split
- Forced Air
Parking Features:
Off Site
Road Frontage:
City Street
Exterior Material:
- Brick/Stone
- Steel Siding
Roof Details:
- Age 8 Years or Less
- Rubber
Lot & Land
Acres:
0.08
Geolocation:
46.768095, -92.122043
Inclusions:
Building, Fixture/Equipment
Lot Dimensions:
28 x 175
Zoning:
Business/Commercial
Schools
School District:
709
District Phone:
218-336-8700
Expenses
Annual Electric Expense:
$10,000
Annual Insurance Expense:
$4,500
Annual Gross Expense:
$51,500
Tenant Expenses:
All Utilities
Financial & Taxes
Tax Year:
2024
Annual Taxes:
$14,900
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,900
Income
Annual Gross Income:
$140,000
Rent
Annual Net Income:
$88,500
Units
Total Units:
4
Miscellaneous
Current Use:
Retail
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Separate
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Premier Real Estate Services.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.