11 5Th StRochester, MN 55906

Property Details for 11 5Th St

Year built

1969

Lot size

0.10 AC

Property size (Sq ft)

2,556 SF

Property type

Bars

Property subtype

Pubs

APN

74.35.42.018531

APU

743542018531

Description

This exceptional 0.26-acre commercial and residential land parcel presents a unique redevelopment opportunity in Rochester, Minnesota's vibrant Lowertown district. Located at 11 5th St NW, 55906, this C-Class property boasts a prime corner lot just steps from Broadway, offering easy access to major roads and public transportation. The 2,556 square foot lot, with APN 743542018531 and 74.35.42.018530, features a two-story, 1969-built structure on a single unit. The asking price is $930,000, translating to $363.85 per square foot. The property is zoned for commercial use, presenting significant potential for revitalization or new construction projects. Its proximity to the Mayo Clinic and the Downtown Rochester area offers unparalleled access to a thriving and expanding market. This investment opportunity is ideal for developers seeking to capitalize on the continued growth of the Downtown, DMC, and Mayo Clinic areas. The property's location and zoning provide a strong foundation for a variety of development possibilities. This is a rare chance to acquire a key piece of real estate in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $618,496

  6.5%

  $570,920

  7%

  $530,140

• Comparable approach

  Method

  Valuation

  Relative Method

  $328,755

  Geo Method

  $328,755

• Alternative Use

  Use

  Valuation

  Residential

  $481,592

  Hospitality

  $441,136

  Educational

  $367,020

  Medical

  $379,642

  Retail

  $570,920

Location Insight

City

Rochester

County

Olmsted

State

Minnesota

Latitude

44.0284

Longitude

-92.4639

CBSA code

40340

CBSA name

ROCHESTER, MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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