Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Lot in Rochester, MN Title is generated by Realmo AI

    Lot 3 Commercial Drive SW, Rochester, MN 55902

    View on Map
    Claim this Listing
    For Sale
    $496,200

    Lots & Land - Rochester, MN

    Lot size:
    0.67 Acres
    Added:
    Nov 20, 2025
    Days on Market:
    182
    Last Refresh:
    May 21 at 12:06 pm

    Property Features for Lot 3 Commercial Drive SW

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Business/Commercial
    Standard status
    Active
    APN
    642634081627
    Lot size
    0.67 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2480

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Daniel Groteboer
    Daniel Groteboer

    Listing agent Daniel Groteboer

    Listing office RE/MAX Results 11200 W 78th Street, Eden Prairie, MN

    Listing date Nov 20, 2025

    MLS# 6820474 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Excellent 0.67‑acre commercial lot
    • Expanding SW Rochester location
    • High traffic location
    • High visibility location
    • Just off 48th St SW
    • Near Hwy 63 South

    Overview

    This 0.67-acre commercial lot is located in an expanding area of southwest Rochester. The property benefits from a high-traffic location with high visibility, situated just off 48th Street SW and Highway 63 South. The zoning is designated for business and commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.472076
    Latitude
    43.952371

    Nearby Similar for Sale

    • $14

      Flexible Commercial Building For Sale

      New commercial building with office and shop space for sale.
      1019 Chester Avenue SE, Marion Twp, MN 55904
      View Details
    • $1,200,000

      Highway Frontage Commercial Property

      4 acres with highway frontage suitable for various businesses.
      7450 Highway 14 E, Rochester, MN 55904
      View Details
    • $425,000

      Commercial Lot in Northwest Rochester

      Commercial lot for sale in high-demand Northwest Rochester area.
      3046 Jeremiah Lane NW, Rochester, MN 55901
      View Details
    • $800

      Rochester Commercial Storage Units Available

      Four storage units available, can be combined, easy highway access.
      815 36th Avenue SE, Rochester, MN 55904
      View Details
    • $339,900

      Land in Prime Rochester Location

      6+ acre lot near Mayo Clinic and city amenities.
      8426 11th Avenue NW, Rochester, MN 55901
      View Details
    • $3,000

      Broadway Location with Income Potential

      Flexible commercial space with residential income opportunity in Rochester, MN.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details
    • $1,250,000

      Versatile Mixed-Use Estate Near Rochester

      7.58-acre mixed-use estate with residential, professional, and industrial structures.
      6906 38th Avenue SE, Pleasant Grove Twp, MN 55904
      View Details
    • $295,000

      Spacious Lot in Rochester, MN

      Two-acre lot near downtown Rochester, ready for your dream home.
      2828 Prairie Woods Lane SW, Rochester, MN 55902
      View Details
    • $295,000

      Residential Land Near Mayo Clinic

      Residential lots with natural amenities, convenient to Mayo Clinic.
      2951 Serenity Lane NE, Rochester, MN 55906
      View Details
    • $750,000

      Residential Land in Southwest Rochester

      16.77 acres with development potential in a prime location.
      Tbd 11th Ave. SW, Rochester, MN 55902
      View Details
    • $295,000

      Residential Land Near Mayo Clinic

      Residential lots with natural amenities, convenient location, Rochester, Minnesota.
      2906 Serenity Lane NE, Rochester, MN 55906
      View Details
    • $350,000

      Broadway Location Mixed-Use Property

      Commercial space with residential income potential in Rochester, Minnesota.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.67-acre commercial lot in an expanding Rochester location.
    Where is this commercial land located?
    The property is located at Lot 3 Commercial Drive SW Rochester, MN.
    What is the asking price?
    The asking price for this property is $496,200.
    What are key features of this property?
    This property features: Excellent 0.67‑acre commercial lot; Expanding SW Rochester location; High traffic location
    (507) 254-0957
    We can help!
    Listing Contact
    Daniel Groteboer
    Daniel Groteboer
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Lot 3 Commercial Drive SW, Rochester, MN 55902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!