Two-Story
For Sale
$199,900
1009 E Center St, Rochester, MN 55904
Vacant main-level apartment paired with an upstairs tenant under a long-term lease.
Property Size1,488 SF
Price / SF$134.34
Days on Market68
Property Features for 1009 E Center St
General Information
Standard status
Active
Size
1,488 SF
Property subtype
Multi-Family
Building Details
Year Built
1910
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Larson Realty
Listed By:
David Gibson
(507) 288-2345
Source:
Searchhousesnow
Added: Jul 30
Changed: Oct 2
Last Checked: Oct 4 at 3:01PM
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 Larson Realty
Investment Insights
Based on property information with market context.
This two-story duplex at 1009 E Center St in Rochester, MN, includes a vacant main-level apartment and an upstairs unit leased to a tenant under a long-term lease. The configuration supports an owner-occupied rental arrangement while retaining an established tenancy in the upper unit.
Recent improvements to the main-level apartment include new egress windows and a new front door, along with other recent updates. The property is described as a short walk from the Mayo Clinic, providing proximity to a major local employment and medical destination.
Recent improvements to the main-level apartment include new egress windows and a new front door, along with other recent updates. The property is described as a short walk from the Mayo Clinic, providing proximity to a major local employment and medical destination.
Key Highlights
- Two‑story duplex at 1009 E Center St, Rochester, MN
- Vacant main‑level apartment supports an owner‑occupied rental arrangement
- Upstairs tenant has signed a long‑term lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,030
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,600
$320.6K
Cap Rate 7%
$229,000
$229.0K
Cap Rate 9%
$178,111
$178.1K
Market Conditions
NOI Build-Up for 1,488 SF
Gross rent
$24.1K $16.20/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$22.9K $15.39/SF
− OpEx
−$6.9K −$4.62/SF
NOI
$16.0K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,600
Cap Rate 7%
$229,000
Cap Rate 9%
$178,111
Alternative Uses
Best Use
Multifamily LT 5
$229.0K
$200.4K – $267.2K
NOI $16,030 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$201.0K
$175.9K – $234.5K
NOI $14,068 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$573.1K
$501.5K – $668.6K
NOI $40,117 @ 7.0% cap · market cap 20.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 55904, MN
29,813
Population
12,984
Households
2.3
Avg Household Size
35
Median Age
37%
College-Educated
93%
High-School Grad
60.1 sq mi
ZIP Area
496
Density / Sq Mi
$76,434
Median Household Income
$47,250
Median Earnings
$1,253
Median Rent
$237,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant main-level apartment paired with an upstairs tenant under a long-term lease.
Where is this duplex located?
The property is located at 1009 E Center St Rochester, MN.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑story duplex at 1009 E Center St, Rochester, MN; Vacant main‑level apartment supports an owner‑occupied rental arrangement; Upstairs tenant has signed a long‑term lease
