1741 2Nd StRochester, MN 55902

Property Details for 1741 2Nd St

Year built

1939

Lot size

0.11 AC

Property size (Sq ft)

4,020 SF

Property type

Office buildings

APN

74.34.34.068135

APU

743434068135

Description

This exceptional 1.88-acre site at 1741 2nd St SW, Rochester, MN 55902, presents a unique multifamily development opportunity. Boasting 81,907 square feet, the property is ideally situated near Mayo Clinic Hospital, benefiting from its proximity to the 45,000 Mayo Clinic employees and its ongoing $5 billion expansion. Zoned MX-T, it allows for an 85-foot-high structure with zero lot line and no density restrictions. The location along Highway 52 and 2nd Street SW provides exceptional visibility and accessibility. Furthermore, its placement along the planned Bus Rapid Transit line (opening 2026), supported by Mayo Clinic, ensures convenient transportation to all Mayo Clinic facilities. This infill opportunity within the Destination Medical Center (DMC) district offers potential for city and public support. Built in 1939, this site capitalizes on Rochester's undersupplied housing market, characterized by low vacancy rates and rising rents, making it a compelling investment prospect. The property's central location and advantageous zoning regulations create a rare opportunity for significant returns in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $661,736

  6.5%

  $610,834

  7%

  $567,203

• Comparable approach

  Method

  Valuation

  Relative Method

  $205,181

  Geo Method

  $205,181

• Alternative Use

  Use

  Valuation

  Residential

  $757,434

  Hospitality

  $693,805

  Educational

  $577,238

  Medical

  $597,090

  Retail

  $897,925

Location Insight

City

Rochester

County

Olmsted

State

Minnesota

Latitude

44.0219

Longitude

-92.4897

CBSA code

40340

CBSA name

ROCHESTER, MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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