Single-Tenant NNN Retail
1987 Scott Road NW Rochester, MN 55901
1987 Scott Road NW, Rochester, MN, 55901
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For Sale
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Single-tenant NNN retail property leased to Goodwill on a corporate-signed, extended agreement.
Property Size28,093 SF
Price / SF$275.58
Days on Market51
Property Features for 1987 Scott Road NW
General Information
- Standard status
- Active
- Size
- 28,093 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2015
Listing agency
SRS Real Estate Partners Newport Beach
(248) 688-0630
Listed by
Michael Carter · License #MI 6501369793
Source
Crexi
Added: Jun 2 Updated: Jul 22 at 4:12AM Checked: Jul 22 at 4:12AM
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 SRS Real Estate Partners Newport Beach
Investment Insights
Based on property information with market context.
Located at 1987 Scott Road NW in Rochester, Minnesota, this is a single-tenant NNN retail investment featuring a corporate-signed Goodwill lease. The property is described as a Goodwill location, with Goodwill having over 3,400 locations across the United States and Canada. In 2022, Goodwill agreed to extend their lease for an additional 10 years.
The site is positioned directly across from Costco in a dense retail corridor at a signalized, hard corner intersection of 19th Street NW and Scott Road NW. The location also benefits from proximity to W Circle Dr NW and Highway 14, with 23,700 VPD and 29,800 VPD cited, respectively.
According to the provided materials, this Goodwill location ranks in the 96th percentile nationwide for annual visits per Placer.ai. The stated trade area demographics include more than 113,000 residents and 101,000 employees, supported by a $124,181 average household income.
The site is positioned directly across from Costco in a dense retail corridor at a signalized, hard corner intersection of 19th Street NW and Scott Road NW. The location also benefits from proximity to W Circle Dr NW and Highway 14, with 23,700 VPD and 29,800 VPD cited, respectively.
According to the provided materials, this Goodwill location ranks in the 96th percentile nationwide for annual visits per Placer.ai. The stated trade area demographics include more than 113,000 residents and 101,000 employees, supported by a $124,181 average household income.
Key Highlights
- Single‑tenant NNN retail property built in 2015, leased to Goodwill
- Corporate‑signed Goodwill lease with an extension agreed in 2022 for an additional 10 years
- Located directly across from Costco on a signalized hard corner at 19th St NW and Scott Rd NW
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $465.2k | $16.56 |
| − Vacancy | −$13.5k | −$0.48 |
| EGI | $451.7k | $16.08 |
| − OpEx | −$135.5k | −$4.82 |
| NOI | $316.2k | $11.26 |
28,093 SF · lease $16.56/SF/yr · vacancy 2.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$4.52M
$3.95M – $5.27M
NOI $316,210 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.82M
$9.47M – $12.62M
NOI $757,405 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Goodwill Rochester: Scott ...
Discount Store
Simond Self Storage ...
Storage Facility
GOODWILL PARKING LOT
Parking Lot & Garage
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Single-tenant NNN retail property leased to Goodwill on a corporate-signed, extended agreement.
Where is this retail space located?
The property is located at 1987 Scott Road NW Rochester, MN.
What is the asking price?
The asking price for this property is $7,742,000.
What are key features of this property?
This property features: Single‑tenant NNN retail property built in 2015, leased to Goodwill; Corporate‑signed Goodwill lease with an extension agreed in 2022 for an additional 10 years; Located directly across from Costco on a signalized hard corner at 19th St NW and Scott Rd NW
