221 28Th StRochester, MN 55904

  • Retail properties
  • 10,741 SF
For Lease

Property Details for 221 28Th St

Year built
2008
Lot size
1.58 AC
Property size (Sq ft)
10,741 SF
Property type
Retail properties
Property subtype
Strip malls
APN
64.14.44.079069
APU
641444079069

Description

This exceptional retail opportunity presents 4,499 square feet of vacant space within the Broadway Marketplace, a multi-tenant center situated in Rochester, Minnesota's thriving Broadway Commons – a major power center. The property, built in 2008 and renovated in 2018, comprises a single building totaling 10,683 square feet and features two suites. Available space ranges from a minimum of 1,300 square feet to a maximum contiguous space of 2,614 square feet, offering flexibility for various retail concepts. One space offers 1,885 square feet with a drive-thru, presenting excellent stacking potential. Another space, previously occupied by T-Mobile, provides 1,300-2,614 square feet on a south endcap. The property boasts high visibility due to its location near the intersection of South Broadway and 28th Street SE, with prominent signage visible from the stoplight. Its proximity to Highway 52 (one block south) ensures convenient access and high traffic volume. Olmsted County taxes are $7.60 per square foot. This prime location within a bustling power center makes this an ideal investment for businesses seeking high visibility and strong foot traffic in a dynamic retail environment. The address is 221 28th St SE, Rochester, MN 55904.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,599,088
    6.5%
    $2,399,158
    7%
    $2,227,790
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,381,516
    Geo Method
    $1,381,516
  • Alternative Use

    Use
    Valuation
    Residential
    $2,023,780
    Hospitality
    $1,853,771
    Educational
    $1,542,316
    Medical
    $1,595,358
    Retail
    $2,399,158
221 28Th St, Rochester, Minnesota

Location Insight

City
Rochester
County
Olmsted
State
Minnesota
Latitude
43.9814
Longitude
-92.4599
CBSA code
40340
CBSA name
ROCHESTER, MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$80,802
$826,300
$1,773,700
$2,600,000
-
$826,300
$1,773,700
$2,600,000

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