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1724 Mall Dr
Duluth, MN 55811
Aldi · Retail Property For Sale
PROPERTY FACTS
About 1724 Mall Dr , Duluth, MN 55811
NEW LONG-TERM GROUND LEASE-Aldi entered a new 15-year Ground Lease commencing on 9/28/17 with five, five-year options. This provides cash flow for years to come. STABLE CREDIT TENANT-Aldi is a multi-billion dollar retail business with over 10,000 stores worldwide (1,600 across 35 States in the US). The lease is backed by Aldi Inc., MN. PRIME TENANT SPECIFIC LOCATION-Aldi thrives in areas with younger growing families. The demographic profile for this store fits perfectly within their model. Also, Minnesota is consistently one of their top performing markets in the US. HANDS FREE INVESTMENT-The Ground Lease structure allows for investors to be completely free of any maintenance or repairs. DIFFICULT DEVELOPMENT AREA-Duluth is a difficult place to develop new properties because of the soil makeup of the area. Tenants rarely relocate within the same submarket given the high costs to build.
PROPERTY TAXES
| Parcel Number | 010442700012 | Improvements Assessment | $1,737,243 |
| Land Assessment | $254,970 | Total Assessment | $1,992,213 |
PROPERTY TAXES
