220 Broadway AveRochester, MN 55904

Property Details for 220 Broadway Ave

Lot size

0.78 AC

Property size (Sq ft)

25,451 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a 25,451 square foot, Class B office building located at 220 Broadway Ave S in downtown Rochester, Minnesota. Currently vacant, this owner-user property boasts a strong net operating income (NOI) of $165,000 annually, representing an 8.00% cap rate. The asking price is $2,062,500, translating to $81.04 per square foot. The building features a flexible layout including private offices, open workspaces, and conference rooms, ideal for a variety of professional services, retail, or mixed-use businesses. Benefitting from prime visibility on Broadway Ave S, skyway access to downtown amenities and parking, and high foot traffic, this property is steps away from the Mayo Clinic. The building exterior underwent recent renovations in 2020. The main floor encompasses approximately 15,900 square feet, which includes approximately 3,000 square feet of exterior drive-thru land leased to a bank. An additional 9,551 square feet is located on the lower level. A lease with a qualified accounting firm is in place until August 31, 2028, providing a strong income stream for the new owner. The 0.78-acre lot offers significant potential. This single-unit building presents a rare opportunity to acquire a thriving downtown Rochester business space.

Location Insight

City

Rochester

County

Olmsted

State

Minnesota

Latitude

44.0209

Longitude

-92.4625

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