1. 31 W Superior St • Duluth, MN 55802
HUNTER BUILDING
31 W Superior St • Duluth, MN 55802

2. NON-ENDORSEMENT AND DISCLAIMER NOTICE
Non-Endorsements
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
Disclaimer
THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
HUNTER BUILDING
Duluth, MN
ACT ID Y

3. PRESENTED BY Michael Ahles Senior Associate
Member - National Office and Industrial Properties Group
Minneapolis Office
Tel: (952)
Fax: (952)
License: MN

4. INVESTMENT OVERVIEW 01 FINANCIAL ANALYSIS 02 MARKET COMPARABLES 03
HUNTER BUILDING
TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01
Property Overview
Regional Map
Local Map
Aerial Photo
FINANCIAL ANALYSIS 02
Tenant Summary
Lease Expiration Summary
Operating Statement
Notes
Pricing Detail
Proposal Price
MARKET COMPARABLES 03
Sales Comparables
MARKET OVERVIEW 04
Market Analysis
Demographic Analysis

5. HUNTER BUILDING
INVESTMENT
OVERVIEW

6. 6 HUNTER BUILDING PROPERTY OVERVIEW PROPERTY OVERVIEW
The property is being offered below market value at $42/PSF.
PROPERTY OVERVIEW
Priced below market value.
Roof replaced in 2006, and still under warranty.
Offered on the market for the first time in 34 years! 6

7. HUNTER BUILDING
REGIONAL MAP

8. HUNTER BUILDING
LOCAL MAP

9. HUNTER BUILDING
AERIAL PHOTO

10. HUNTER BUILDING
PROPERTY PHOTOS

11. 12 HUNTER BUILDING PROPERTY PHOTO
Marcus & Millichap is proud to present a piece of Downtown Duluth history. 12

12. 12 HUNTER BUILDING PROPERTY PHOTO
Duluth’s Skywalk is an indoor skyway system connecting downtown buildings and businesses together without having to walk outside. 12

13. 12 HUNTER BUILDING PROPERTY HISTORY
Duluth’s Skywalk is an indoor skyway system connecting downtown buildings and businesses together without having to walk outside. 12

14. First Floor Third Floor Second Floor Third Floor (rear)
HUNTER BUILDING
FLOORPLANS
First Floor
Third Floor
Second Floor
Third Floor (rear)
Second Floor (rear) 12

15. HUNTER BUILDING
FINANCIAL
ANALYSIS

16. HUNTER BUILDING FINANCIAL ANALYSIS
There are a total of 8 tenants that occupy approximately 1/4th of the total space. All are on Month-to Month leases.

17. HUNTER BUILDING
MARKET
OVERVIEW

18. 2016 MEDIAN HOUSEHOLD INCOME:
HUNTER BUILDING
Duluth
OVERVIEW
The Duluth-Superior metro is located along the north shore of Lake Superior, at the westernmost point of the Great Lakes. The lake as well as nearby state and national parks and forests draw a multitude of visitors to the region for a wide range of outdoor activities. The metro consists of St. Louis and Carlton counties in Minnesota and Douglas County in Wisconsin. Duluth is the most populous city in the region with 196,600 residents and is the seat of St. Louis County. Residents of the city are well educated with nearly 33 percent holding a bachelor’s degree, well above the U.S. level of 29 percent.
METRO HIGHLIGHTS
TOURIST DESTINATION
A variety of natural features as well as the Great Lakes Aquarium, Canal Park, Lake Superior Railroad Museum and the Glensheen Mansion draw visitors.
PORTS
The combined facilities in Duluth, Minnesota, and nearby Superior, Wisconsin, form the largest port on the Great Lakes, shipping commodities worldwide.
The University of Minnesota Duluth, College of St. Scholastica, Lake Superior College, University of Wisconsin-Superior and Wisconsin Indianhead Technical College are all located within the metro.
ECONOMY
A large tourism industry is underpinned by Lake Superior and the many state and national parks and forests nearby. The region offers an abundance of outdoor activities and is also the gateway to the North Shore and the Boundary Waters Canoe Area.
Aviation is a sizable component of the economy. Cirrus Aircraft is headquartered and manufactured in Duluth. Kestrel Aircraft, AAR Corp., Monaco Air, the 148th Air National Guard and the Duluth International Airport also provide jobs in the area.
Other major economic drivers include healthcare, manufacturing, data centers and logistics/transportation.
DEMOGRAPHICS
2016 POPULATION:
2016 HOUSEHOLDS:
2016 MEDIAN AGE:
2016 MEDIAN HOUSEHOLD INCOME:
280K
117K
40.9
$61,800
Growth *:
Growth *:
U.S. Median:
U.S. Median:
37.7
$57,200
1.5%
2.2%
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau 1

19. PROPERTY NAME HUNTER BUILDING DEMOGRAPHICS MARKETING TEAM
Created on November 2017
DEMOGRAPHICS
MARKETING TEAM
POPULATION
1 Miles
3 Miles
5 Miles
2021 Projection
Total Population
9,165
47,225
85,415
2016 Estimate
9,233
47,191
85,243
2010 Census
9,170
47,034
85,173
2000 Census
9,488
46,430
84,582
Current Daytime Population
27,313
81,096
122,125
HOUSEHOLDS
Total Households
4,855
19,503
35,608
4,853
19,369
35,290
Average (Mean) Household Size
1.78
2.14
2.22
4,856
19,322
35,317
5,026
19,401
35,047
HOUSEHOLDS BY INCOME
$200,000 or More
0.63%
2.05%
2.64%
$150,000 - $199,999
0.48%
2.38%
2.71%
$100,000 - $149,000
3.21%
6.65%
8.62%
$75,000 - $99,999
4.44%
8.59%
9.53%
$50,000 - $74,999
9.18%
16.16%
18.57%
$35,000 - $49,999
11.99%
13.80%
14.18%
$25,000 - $34,999
13.45%
12.35%
11.28%
$15,000 - $24,999
19.53%
15.71%
14.15%
Under $15,000
32.08%
20.92%
17.86%
Average Household Income
$32,189
$52,206
$59,327
Median Household Income
$21,872
$34,675
$41,066
Per Capita Income
$17,764
$23,209
$25,720
POPULATION PROFILE
1 Miles
3 Miles
5 Miles
Population By Age
2016 Estimate Total Population
9,233
47,191
85,243
Under 20
17.57%
22.91%
23.30%
20 to 34 Years
36.27%
35.20%
29.62%
35 to 39 Years
5.33%
4.70%
5.14%
40 to 49 Years
10.05%
8.81%
10.10%
50 to 64 Years
18.40%
16.03%
18.21%
Age 65+
12.39%
12.36%
13.64%
Median Age
32.30
28.67
32.73
Population 25+ by Education Level
2016 Estimate Population Age 25+
6,076
26,770
52,725
Elementary (0-8)
2.56%
1.55%
1.32%
Some High School (9-11)
9.35%
5.82%
5.69%
High School Graduate (12)
29.30%
25.57%
26.26%
Some College (13-15)
25.03%
24.14%
Associate Degree Only
9.46%
9.83%
9.77%
Bachelors Degree Only
17.51%
21.54%
21.70%
Graduate Degree
6.37%
10.79%
11.28%
Source: © 2016 Experian

20. PROPERTY NAME HUNTER BUILDING DEMOGRAPHICS MARKETING TEAM
Created on November 2017
DEMOGRAPHICS
MARKETING TEAM
POPULATION BY TRANSPORTATION TO WORK
1 Miles
3 Miles
5 Miles
2016 Estimate Total Population
Bicycle
0.21%
0.98%
0.96%
Bus or Trolley Bus
11.87%
5.45%
4.09%
Carpooled
10.89%
8.15%
8.64%
Drove Alone
60.02%
72.21%
75.57%
Ferryboat
0.00%
Motorcycle
0.02%
0.26%
0.20%
Other Means
0.42%
0.54%
0.63%
Railroad
Streetcar or Trolley Car
0.17%
0.09%
Subway or Elevated
Taxicab
0.05%
0.24%
0.14%
Walked
12.04%
7.91%
5.84%
Worked at Home
4.50%
4.10%
3.84%
POPULATION BY TRAVEL TIME TO WORK
Under 15 Minutes
51.71%
51.90%
47.47%
Minutes
33.03%
34.15%
38.61%
Minutes
8.84%
7.57%
7.14%
Minutes
1.52%
1.32%
1.33%
90 or More Minutes
0.40%
0.75%
1.03%
Average Travel Time in Minutes 17 18
Source: © 2016 Experian

21. HUNTER BUILDING PROPERTY NAME DEMOGRAPHICS MARKETING TEAM Population
Race and Ethnicity
In 2016, the population in your selected geography is 9,233. The population has changed by -2.69% since It is estimated that the population in your area will be 9, five years from now, which represents a change of -0.74% from the current year. The current population is 52.18% male and 47.82% female. The median age of the population in your area is 32.30, compare this to the US average which is The population density in your area is 2, people per square mile.
People of Hispanic origin make up 2.81% of the current year population in your selected area. Compare this to the US average of 17.65%.
Households
Housing
There are currently 4,853 households in your selected geography. The number of households has changed by -3.44% since It is estimated that the number of households in your area will be 4,855 five years from now, which represents a change of 0.04% from the current year. The average household size in your area is 1.78 persons.
The median housing value in your area was $134,937 in 2016, compare this to the US average of $187,181. In 2000, there were 1,196 owner occupied housing units in your area and there were 3,830 renter occupied housing units in your area. The median rent at the time was $368.
Income
Employment
The current year per capita income in your area is $17,764, compare this to the US average, which is $29,962. The current year average household income in your area is $32,189, compare this to the US average which is $78,425.
In 2016, there are 29,343 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 58.32% of employees are employed in white-collar occupations in this geography, and 40.40% are employed in blue-collar occupations. In 2016, unemployment in this area is 9.43%. In 2000, the average time traveled to work was minutes.
Source: © 2016 Experian

22. HUNTER BUILDING 8
DEMOGRAPHICS

23. PRESENTED BY www.MarcusMillichap.com Michael Ahles Senior Associate
Member - National Office and Industrial Properties Group
Minneapolis Office
Tel: (952)
Fax: (952)
License: MN