24,000+ SF Commercial Property Available for Redevelopment in Superior, WI

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Hollie Parsons
5 years ago
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Redevelopment Opportunity 24,000+ SF Commercial Property Available for Redevelopment in Superior, WI Brisky Commercial Real Estate Serving Wisconsin

1 Redevelopment Opportunity 24,000+ SF Commercial Property Available for Redevelopment in Superior, WI Brisky Commercial Real Estate Serving Wisconsin & Minnesota Office: Brian Brisky Broker in Wisconsin & Minnesota Cell:

2 Table of Contents Property Summary 3 Property Overview 4 Aerial Photo 5 Property Photos 6 Floor Plan 7 Area Overview Market Information 9 Regional & Local Market Trends 10 Demographics 2

3 Property Overview Overview Well maintained retail space located in the growing city of Superior, WI. This single story building has 24,000+ square feet and has a nice corner location with great visibility. This former Super One Foods building would be an ideal location for another retail tenant or could be redeveloped for another commercial use. Listed well below assessed value This property is a great buy! The building is located within close proximity to several retailers, many of which are new to the neighborhood. Retail neighbors include the new Super One Foods complex, new Kwik Trip currently under construction, Hardware Hank, Superior Choice Credit Union and many others. Superior is poised to see vast amounts of economic growth, including many new employers announcing expansion in the area. This is an excellent opportunity to be part of this growing commercial area. Property Highlights Prime Location in a Growing Area Corner Location Ample Parking Pylon Sign Two Rear Loading Docks Property Summary Asking Price: $700,000 Total Square Footage: 24,046 Year Built: 1975 Lot: Approx Acres Assessed Value: $1,271,400 Signage: Pylon Sign Parking Spaces: 76 3

4 Aerial Photo 4

5 Property Photos 5

6 Floor Plan 6

7 Area Overview Daily Traffic Count 21,100 Daily Traffic Count 2,379 7

8 Market Information 9 Regional and Local Market Trends 10 Demographics 8

9 Market Trends Superior, Wisconsin Superior, WI and Duluth, MN also known as the Twin Ports, are located on the Westernmost tip of Lake Superior. In addition to being an international shipping hub, the Twin Ports boasts a wide array of industry and manufacturing, educational institutions, and tourists attractions. Superior is poised to see vast amounts of economic growth, including many new employers announcing expansion in the area. Regional and Local Market Trends Together with its neighbor Duluth, Minnesota, it is home to the largest port on the Great Lakes and the largest seasonal port in the world. Superior's location at the head of Lake Superior and direct connections to Interstate 35 and U.S. Highway 53 make it a transportation hub with multiple trucking, rail and pipeline options. The transportation industry accounts for more than 1,000 jobs. The Duluth Superior port, the largest in the Great Lakes, welcomes both domestic and foreign vessels. There are more than 900 manufacturers in the Northland. Growing area manufacturers include FenTech, Inc., which manufactures vinyl doors and windows; Charter Films, a producer of plastic films; Genesis Attachments, manufacturer of shears and grapples; Amsoil, a producer of synthetic motor oil and lubricants; and Crane Song Ltd., a manufacturer of discrete Class A electronics for recording studios. This progressive community offers five industrial parks, three Tax Increment Finance (TIF) districts and a revolving loan fund to encourage economic development. The Business Improvement District encompasses 89 blocks, 322 tax parcels, and more than 300 businesses in the core downtown of Superior. The BID has several grants for building restoration, new construction, and design assistance. A BID Reinvestment Loan Program, through local banks, is also available for commercial property owners. 9

10 Demographics Quick Facts from the U.S. Census Bureau City of Superior City of Duluth Douglas County Current Population 26,862 86,211 43,785 Persons per Square Mile , Persons per Household Median Household Income $40,146 $41,116 $44,140 Per Capita Income $24,028 $24,174 $24,741 High School Graduate or Higher 90.6% 92.6% 91.2% Bachelor s Degree of Higher 22.2% 31.2% 21.8% Homeownership Rate 56.6% 59.2% 68.4% Median Value of Owner-Occupied Housing Units $118,200 $151,200 $133,600 Living in Same House, 1 year and Over 81.8% 76% 85.4% Mean Travel Time to Work in Minutes Retail Sales per Capita $17,549 $15,360 $11,523 10

4,500 SF / 1.7 ACRES / ZONED C3 / I-75 EXPOSURE / REDEVELOPMENT

4,500 SF / 1.7 ACRES / ZONED C3 / I-75 EXPOSURE / REDEVELOPMENT 725 INDUSTRIAL BOULEVARD MCDONOUGH, GA 30253 Matthew Levin, CCIM Senior Advisor 770.209.1700 levinm@svn.com SVN INTERSTATE BROKERS 3300 HOLCOMB