Corner Lot in Lowertown
11 5th St NW, Rochester, MN 55906
Corner lot property in Rochester's emerging Lowertown Neighborhood District.
Type:Land, Retail
Property size:
3,466 SFPrice / SF:
$216/SF- Added:
- Jun 15, 2023
- Days on Market:
- 1074
- Last Refresh:
- May 12 at 9:31 pm
Property Features for 11 5th St NW
General Information
- Standard status
- Active
- Size
- 3,466 SF
- Property subtype
- Land, Retail
Building Details
- Year Built
- 1969
Listing agent Dylan Carty License #MN 40372226
Listing office Realty Growth Incorporated
Listing date Jun 15, 2023
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Realty Growth Incorporated
HighLights
- Prime corner‑lot location just a half‑block from Broadway in the emerging Lowertown Neighborhood District.
- High visibility and walkable transit access.
- Significant redevelopment potential.
- Opportunity to capitalize on Downtown Rochester, DMC, and Mayo Clinic growth.
- Option to maintain the existing restaurant operation.
- Built in 1969.
Overview
Located just a half-block from Broadway in Rochester’s emerging Lowertown Neighborhood District, this corner-lot property offers visibility, walkable transit access, and redevelopment potential. The property presents the option to maintain the existing restaurant in operation. The property size is 3466 square feet.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$506.9K
NOI $45,621 @ 9.00% cap · cautious / downside scenario
Moderate
$651.7K
NOI $45,621 @ 7.00% cap · market / base-case scenario
Aggressive
$912.4K
NOI $45,621 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $18.00 |
| − Vacancy | −$1.6k | −$0.45 |
| EGI | $60.8k | $17.55 |
| − OpEx | −$15.2k | −$4.39 |
| NOI | $45.6k | $13.16 |
3,466 SF · lease $18.00/SF/yr · vacancy 2.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$651.7K
$570.3K – $760.4K
NOI $45,621 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.56M
NOI $93,446 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Cheap Charlie's
Restaurant
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.4639168
- Latitude
- 44.0282653
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Corner lot property in Rochester's emerging Lowertown Neighborhood District.
Where is this commercial land located?
The property is located at 11 5th St NW Rochester, MN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime corner‑lot location just a half‑block from Broadway in the emerging Lowertown Neighborhood District.; High visibility and walkable transit access.; Significant redevelopment potential.
