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    511 3Rd Ave SW Rochester, MN 55902

    For Lease
    $21 SF/Yr ($13,172 /Mo)

    Class A space near Discovery Square and Mayo Clinic.

    Property size:
    7,352 SF
    Lot size:
    1.01 Acres

    Property Features for 511 3Rd Ave SW

    General Information

    Size
    7,352 SF
    Lot size
    1.01 Acres

    Source: Core Real Estate Group Agent Tyler Cain

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

    Overview

    Prime Location Retail/Office Space

    This property is positioned within a Class A 150-unit apartment complex, near Discovery Square and Mayo Clinic's Downtown Campus. It offers street-level access for maximum visibility. The space features customizable floor plans and natural light, creating a vibrant environment. The exterior provides professional curb appeal. It is suitable for professional offices, retail stores, or restaurants. Excellent leasing terms and dedicated tenant support are available. The property has a size of 7352 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residence at Discovery Square Apartment Building The House of Shields Non-Profit Organization

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon 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
    -92.4676062
    Latitude
    44.0286096

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    FAQs

    What type of property is this?
    Office space - Class A space near Discovery Square and Mayo Clinic.
    Where is this office space located?
    The property is located at 511 3Rd Ave SW Rochester, MN.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Prime Location: Close to Discovery Square and Mayo Clinic's Downtown Campus.; - Maximum Visibility: Street-level access.; - Versatile Layouts: Customizable floor plans.
    (507) 993-1671
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    511 3Rd Ave SW Rochester, MN 55902
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    Rochester, MN 55902
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    Realmo Value Estimation

    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.

    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.

    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
    511 3Rd Ave SW Rochester, MN 55902
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