Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    102 Broadway Ave S Rochester, MN 55906

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $6,600,000

    42,666 SF building in a highly desirable downtown location.

    Property size:
    5,009 SF
    Lot size:
    0.23 Acres

    Property Features for 102 Broadway Ave S

    General Information

    Size
    5,009 SF
    Lot size
    0.23 Acres

    We can help!

    Listing Contact
    Darci Fenske
    Darci Fenske
    Source: Moodyscre

    Listing Agent: Darci Fenske

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Downtown Rochester Redevelopment Opportunity

    Located in downtown Rochester, this four-story building with a basement offers a redevelopment opportunity in the central business district. The 42,666 square-foot building is situated on 0.23 acres of commercially zoned land and features 66 feet of frontage on South Broadway. The property benefits from its location on a prominent corner, high traffic counts, and skyway connectivity. It is fully sprinkled and contains two elevators. The building is adjacent to the Double Tree Hotel and a public parking ramp.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Stifel Investment Service United States Postal ... Post Office Novus Glass Auto Glass Shop Wehlage Pictures Video Production Service Schmitt Automotive Repair Auto Repair Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.462659
    Latitude
    44.0245923

    Nearby Similar for Lease

    • $18 SF/Yr
      2,942 SF

      Downtown Rochester Landmark Office Space

      Prestigious office building with skyway access and flexible floor plans.
      206 S Broadway, Rochester, MN 55904
      View Details
    • $21 SF/Yr
      2,476 SF

      Prime Office Space in Lowertown

      Modern office space for lease in Rochester's vibrant Lowertown neighborhood.
      401 N Broadway Ave, Rochester, MN 55906
      View Details
    • $18 SF/Yr
      37,979 SF

      Modern Office Space in Rochester

      Premier office spaces with modern facilities in a thriving location.
      975 34Th Avenue Ct Northwest, Rochester, MN 55901
      View Details
    • $2,500,000
      23,378 SF

      Versatile Industrial/Office Building in Rochester

      Adaptable space for manufacturing, warehousing, or commercial operations.
      2460 Marion Rd SE, Rochester, MN 55904
      View Details
    • $12 SF/Yr
      22,960 SF

      Retail Space in Cedarwood Mall

      End-cap retail space in high-traffic Rochester shopping center.
      4100 18Th Ave NW, Rochester, MN 55901
      View Details
    • $16 SF/Yr
      9,920 SF

      Adaptable Office/Industrial Space For Lease

      9,207 SF office building with flexible layout in Rochester, MN.
      3416 Lakeridge Pl NW, Rochester, MN 55901
      View Details
    • $8 SF/Yr
      10,642 SF

      Rochester Warehouse with Loading Dock

      Heated and cooled warehouse with loading dock and truck bays.
      2705 S 14Th St, Rochester, MN 55901
      View Details
    • $25 SF/Yr
      9,300 SF

      Downtown Rochester Retail Opportunity

      9,000+ SF retail space in downtown Rochester, MN.
      425 Broadway Ave S, Rochester, MN 55906
      View Details
    • $17 SF/Yr
      2,520 SF

      Retail Space in Lowertown District

      Standalone commercial building in Rochester's thriving Lowertown retail district.
      608 7Th St NW, Rochester, MN 55901
      View Details
    • Contact for pricing
      2,190 SF

      Prime Corner Retail with Drive-Thru

      High-visibility retail space with drive-thru on a corner lot.
      209 E Center St, Rochester, MN 55902
      View Details
    • $10 SF/Yr
      19,207 SF

      Rochester Commercial Building For Rent

      Centrally located office, showroom, and warehouse building with flexible floorplan.
      835 38Th St NW, Rochester, MN 55901
      View Details
    • $19 SF/Yr
      5,481 SF

      Turn-Key Retail Space Available

      Retail space in a busy shopping hub near Highway 52.
      24-44 17Th Ave NW, Rochester, MN 55901
      View Details

    FAQs

    What type of property is this?
    Office building - 42,666 SF building in a highly desirable downtown location.
    Where is this office building located?
    The property is located at 102 Broadway Ave S Rochester, MN.
    What are key features of this property?
    This property features: - Highly desirable downtown Rochester location with skyway connection; - Prime for redevelopment in the Central Business District; - **42,666 SF building on a prominent corner location**
    (507) 421-6556
    Request Owner's contact information
    102 Broadway Ave S Rochester, MN 55906
    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.
    102 Broadway Ave S
    Rochester, MN 55906
    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
    102 Broadway Ave S Rochester, MN 55906
    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

    We can help!
    Listing Contact
    Darci Fenske
    Darci Fenske
    (507) 421-6556
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.