Duluth, MN Commercial Property for Sale (19 Real Estate Listings)
Duluth, MN Real Estate Statistics
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Property Types (active listings)
As of April 1, 2023 there are 19 active Duluth, MN commercial real estate listings for sale with an average listing price of $301,320. The highest-priced commercial property listing is $825,000, while the lowest priced commercial property can be purchased for $1,250. Duluth, MN Commercial properties for sale have an average price of $90 per square foot, based on commercial listings with an average of 2.0 bedrooms, 1.3 bathrooms, and 3,548 square feet of living space.
Duluth, MN Commercial Real Estate & Properties
Duluth, Minnesota, is the perfect location for commercial real estate investments. With a diverse economy and abundant natural resources, Duluth offers businesses unparalleled opportunities for success. The city has a thriving business community with various industries and companies ranging from tech startups to established blue-chip firms.
Duluth offers plenty of options, from commercial office space to warehouses, industrial sites, and retail locations. The city boasts some of the most competitive lease rates in the region, allowing businesses to get more bang for their buck when investing in commercial real estate. Additionally, the area enjoys tax incentives that make investing here even more attractive.
Duluth, Minnesota's History
Duluth, Minnesota, is one of the most historically rich cities in the state. First settled in 1850-51, it was incorporated as a town in 1857 and as a city in 1870 before receiving a new city charter in 1887. That same year saw Duluth, Portland, and Rice's Point being consolidated under the name of Duluth. Over time, its area was extended west to include Oneota and Fond du Lac and eastward to Endion, Lakeside, and Lakewood. The city has had a post office for over 150 years. Its union depot served several famous rail lines, including the Duluth, Missabe, and Iron Range Railroad; the Great Northern Railway; and the well-known Minneapolis, St. Paul, and Sault Ste. Marie Railroad (Soo Line). All these elements combined make Duluth a vibrant historical center that all visitors to Minnesota who are curious about its culture and heritage should be explored.
Duluth, Minnesota's Demographics
Duluth, Minnesota, is located on Lake Superior's northwestern shore. As of the 2010 census, its population comprised 86,265 individuals across 35,705 households and 18,680 families. In terms of density, there was an average of 1,272.5 people per square mile (491.3/km2), with 38,208 housing units at 563.6 per square mile (217.6/km2). A racial breakdown shows that at 90.4%, White people make up most of Duluth’s population; this is followed by 2.3% African American, 2.5% Native American, 1.5% Asian, and 0.3% from other races – all combined, accounting for 3.0%. Additionally, 1.5% were of Hispanic or Latino origin.
Duluth, Minnesota's Geographic Makeup
Duluth is known for its expansive geography in the picturesque state of Minnesota. According to the U.S. Census Bureau, the city comprises 87.43 square miles, with 67.79 square miles of land and 19.64 square miles of water. Second, only to Hibbing in terms of size, Duluth boasts a canal connecting Lake Superior to the Duluth-Superior harbor and St. Louis River, as well as an Aerial Lift Bridge linking Canal Park and Minnesota Point (“Park Point”). The distinct geography makes this small city uniquely beautiful and offers visitors a one-of-a-kind experience full of adventure and exploration possibilities.
Duluth, Minnesota‘s Economy
The economy of Duluth, Minnesota, is a fascinating study of modern urban development. With high average household incomes that exceed $72,000 and a poverty rate of just over 19%, the city celebrates an enviable financial landscape compared to other cities of similar size and scope. Rental costs in Duluth have been steady over the past few years, and the median house value continues to be attractive for those looking for a new start. Moreover, its population boasts a median age that keeps generations connected, with 32.9 years for males and 34.6 years for females. Duluth certainly shines as an ideal place for economic opportunity alike.
Duluth, Minnesota's Employment
Duluth, Minnesota, employs a talented population of 45.3k across various industries. Health Care & Social Assistance is the largest industry in Duluth, using over 9,998 people. Educational Services comes in a close second with 5,444 employees, while Retail Trade rounds out the top three employers with 5,383 people. Mining, Quarrying, and Oil & Gas Extraction is the highest paying job sector in Duluth, with an average salary of 91,458 USD per annum, followed by Utilities at 78,306 USD and Public Administration at 60,079 USD. These figures reflect the growing economic prosperity in Duluth and demonstrate that it's an excellent place for anyone looking for well-paying work opportunities.
Why Commercial Real Estate In Duluth, Minnesota?
Duluth, Minnesota, is a fantastic place to consider for commercial real estate. From its expansive geography to its diverse population and flourishing economy, Duluth offers those looking to invest in the state of Minnesota an array of unique opportunities. Whether you’re looking for a space that can serve as an office building, retail outlet, or something more specialized like an industrial warehouse, there is something here for everyone. With so much potential in Duluth’s commercial real estate sector and various options available to investors, it's no wonder this small city has become such a popular destination for those hoping to make their mark in business.