For Sale in conjunctionSpirit with Valley Marcus and Millichap: Mall Westport Shopping Center, Baxter, MN215 N Central Ave, Duluth, MN ➢ 89% Occupied Shopping Center ➢ Westgate Mall Shadow-Anchored | Tenants Include Herberger’s, Big Lots, Dunham Sports, Payless and JOANN ➢ Mostly NNN Leases | 83 Percent of the GLA has NNN Leases ➢ Upside in Converting Gross Leases to NNN and to Market Rents Email for further info:
[email protected] ➢ Key Tenants include Pizza Hut, Keller Williams, and Anytime Fitness Executive Summary | 4 SPIRIT VALLEY MALL ADDRESS: 215 N Central Avenue, Duluth, Minnesota 55807 Pricing Price: $3,038,000 PRICE CAP RATE NOI Cap Rate: 8.65% $3,038,000 8.65% $262,651 Gross Leasable Area: 70,850 Price Per Square Foot: $42.88 Lot Size: 6.19 +/- Acres Investment Highlights SQ FOOTAGE LEASE TYPES ACREAGE ➢ Multi-Tenant Retail Mall | 98% Occupied 70,850 NNN & Gross 6.19 Acres ➢ Strong Tenant Mix | National, Regional & Local Tenants Demographics ➢ High Upside Potential | Converting Leases from Gross to Triple Net 1-Mile 3-Mile 5-Mile ➢ Additional Upside in Converting Month-to-Month Population 6,535 26,475 59,440 Leases to Long-Term Leases Average HH $49,239 $58,810 $55,627 Income ➢ Immediate Access to Interstate 35 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property.