Office Building with Stated CAP
21 1st Street SW Rochester, MN 55902
21 1st Street SW, Rochester, MN, 55902
Contact for pricing
For Sale
Contact for pricing
For-sale office building totaling 101,389 SF, presented with a stated 8.25% CAP and priced at $24.55 million.
Property Size101,389 SF
Price / SF$242.14
Days on Market50
Property Features for 21 1st Street SW
General Information
- Standard status
- Active
- Size
- 101,389 SF
- Property subtype
- Office
Building Details
- Year Built
- 1981
Listing agency
Matthews
Listed by
Michael Moreno · License #CA 01982943
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 1:49PM Checked: Jul 22 at 6:09PM
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 Matthews
Investment Insights
Based on property information with market context.
This offering is a for-sale office building with a total size of 101,389 square feet. The property is presented in an income-oriented format, with the public remarks listing an 8.25% CAP for the asset.
The building is located at 21 1st Street SW in Rochester, Minnesota (55902). Buyers will typically review the existing office configuration and building systems as part of underwriting, along with the income assumptions reflected in the stated CAP rate.
For buyers, the combination of office use and the stated 8.25% CAP may fit an investment underwriting approach focused on current income characteristics. Tenants and owner-operators can also evaluate the property as an office real estate platform, using the building’s overall square footage and office functionality as the starting point for space planning and leasing considerations. The property is listed at $24,550,000.
The building is located at 21 1st Street SW in Rochester, Minnesota (55902). Buyers will typically review the existing office configuration and building systems as part of underwriting, along with the income assumptions reflected in the stated CAP rate.
For buyers, the combination of office use and the stated 8.25% CAP may fit an investment underwriting approach focused on current income characteristics. Tenants and owner-operators can also evaluate the property as an office real estate platform, using the building’s overall square footage and office functionality as the starting point for space planning and leasing considerations. The property is listed at $24,550,000.
Key Highlights
- Office building totaling 101,389 SF
- Stated 8.25% CAP
- Year built: 1981
Local Financial Insights For Office B
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 | $2.74M | $27.00 |
| − Vacancy | −$246.4k | −$2.43 |
| EGI | $2.49M | $24.57 |
| − OpEx | −$622.8k | −$6.14 |
| NOI | $1.87M | $18.43 |
101,389 SF · lease $27.00/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$26.69M
$23.35M – $31.14M
NOI $1,868,346 @ 7.0% cap · market cap 7.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$39.05M
$34.17M – $45.56M
NOI $2,733,512 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wells Fargo Home ...
Loan Service
Ryan Companies US
Construction Company
Wells Fargo Bank
Bank
Pinero Rebecca B
Law Firm
Wells Fargo Private ...
Financial Advisor
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - For-sale office building totaling 101,389 SF, presented with a stated 8.25% CAP and priced at $24.55 million.
Where is this office building located?
The property is located at 21 1st Street SW Rochester, MN.
What is the asking price?
The asking price for this property is $24,550,000.
What are key features of this property?
This property features: Office building totaling 101,389 SF; Stated 8.25% CAP; Year built: 1981
