Multi-Tenant NNN Retail
For Sale
Contact for pricing
Pending
221 28th St SE, Rochester, MN 55904
Multi-tenant NNN retail property off the South Broadway/Highway 63 interchange with adjacency to major national anchors.
Property Size10,715 SF
Days on Market248
Property Features for 221 28th St SE
General Information
Standard status
Pending
Size
10,715 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
North Rock Real Estate - Rochester
(507) 226-5303
Listed By:
Paul Aronhalt · License ##40172933
(507) 226-5303
Source:
Moodyscre
Added: Nov 26, 2025
Changed: Jul 30
Last Checked: Jul 31 at 12:36PM
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 North Rock Real Estate - Rochester
Investment Insights
Based on property information with market context.
Broadway Marketplace is a multi-tenant NNN retail property located at 221 28th St SE in Rochester, MN. The property totals 10,715 square feet and is positioned just off the South Broadway/Highway 63 interchange.
The site is described as benefiting from strong visibility and consistent daily traffic counts, with direct adjacency to major national anchors including Walmart, Kohl’s, Menards, At Home, Total Wine, and Culver’s. That tenant and anchor mix supports a retail setting designed for convenient access and high shopper frequency along one of Rochester’s established commercial corridors.
The site is described as benefiting from strong visibility and consistent daily traffic counts, with direct adjacency to major national anchors including Walmart, Kohl’s, Menards, At Home, Total Wine, and Culver’s. That tenant and anchor mix supports a retail setting designed for convenient access and high shopper frequency along one of Rochester’s established commercial corridors.
Key Highlights
- 10,715 SF multi‑tenant NNN retail property
- Just off the South Broadway/Highway 63 interchange
- Strong visibility with consistent daily traffic counts
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 | $177.4k | $16.56 |
| − Vacancy | −$5.1k | −$0.48 |
| EGI | $172.3k | $16.08 |
| − OpEx | −$51.7k | −$4.82 |
| NOI | $120.6k | $11.26 |
10,715 SF · lease $16.56/SF/yr · vacancy 2.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.72M
$1.51M – $2.01M
NOI $120,606 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.81M
NOI $288,883 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
28
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Multi-tenant NNN retail property off the South Broadway/Highway 63 interchange with adjacency to major national anchors.
Where is this nnn property located?
The property is located at 221 28th St SE Rochester, MN.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 10,715 SF multi‑tenant NNN retail property; Just off the South Broadway/Highway 63 interchange; Strong visibility with consistent daily traffic counts
