Single-Story Flex
2018 15th St. NW, Rochester, MN 55901
For Sale
Contact for pricing
An SI-zoned building with dedicated surface parking offers a flexible footprint for office or flex use.
Property Size3,834 SF
Lot Size0.48 Acres
Price / SF$176.06
Days on Market28
Property Features for 2018 15th St. NW
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Additional Details
Asking Price
Property Use
Building Details
Buildings
Stories
Building Size
Listing Agency:
Core Real Estate Group
Listed By:
Tyler Cain · License MN #40941217
(507) 993-1671
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 5:36PM
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 Core Real Estate Group
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Investment Insights
Based on property information with market context.
This one-story flex property contains 3,834 square feet on a 0.48-acre site. Its flexible footprint supports office, professional service, medical, or flex-oriented uses. The property is zoned SI (Special Industrial) and includes 18 dedicated surface parking stalls.
Key Highlights
- 3,834 SF, one‑story building
- 0.48‑acre site
- 18 dedicated surface parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,415
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,300
$628.3K
Cap Rate 7%
$448,786
$448.8K
Cap Rate 9%
$349,056
$349.1K
Market Conditions
NOI Build-Up for 3,834 SF
Gross rent
$50.6K $13.20/SF
− Vacancy
−$2.3K −$0.59/SF
EGI
$48.3K $12.61/SF
− OpEx
−$16.9K −$4.41/SF
NOI
$31.4K $8.19/SF
Area
Rochester, MN
Vacancy
4.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$628,300
Cap Rate 7%
$448,786
Cap Rate 9%
$349,056
Alternative Uses
Best Use
Office B
$1.01M
$883.1K – $1.18M
NOI $70,651 @ 7.0% cap · market cap 10.47%
Second Best
Flex RnD
$448.8K
$392.7K – $523.6K
NOI $31,415 @ 7.0% cap · market cap 4.65%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,367 @ 7.0% cap · market cap 15.31%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Hy-Vee Catering — 1315 6th St NW, Rochester, MN 55901
Frequently Asked Questions
What type of property is this?
Flex space - An SI-zoned building with dedicated surface parking offers a flexible footprint for office or flex use.
Where is this flex space located?
The property is located at 2018 15th St. NW Rochester, MN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 3,834 SF, one‑story building; 0.48‑acre site; 18 dedicated surface parking stalls
