Renovated Office
2905 Broadway Ave S, Rochester, MN 55904
For Sale
Contact for pricing
The property includes 43 on-site parking stalls and office interiors with upgraded finishes.
Property Size7,139 SF
Lot Size1.03 Acres
Price / SF$245.13
Days on Market18
Property Features for 2905 Broadway Ave S
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Road Access
Property Use
Building Details
Year Renovated
Buildings
Building Size
Listing Agency:
Core Real Estate Group
Listed By:
Chad Behnken · License MN #40937342
(507) 251-7667
Source:
Crexi
Added: Oct 23
Changed: Nov 8
Last Checked: Nov 8 at 4:01PM
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 Core Real Estate Group
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,139-square-foot office building occupies 1.03 acres in Rochester, Minnesota. Renovation work completed in 2018 included a new roof and HVAC, along with other improvements. The interior is finished for office use.
The site is on South Broadway, with access from the street and 43 parking stalls on the property.
The site is on South Broadway, with access from the street and 43 parking stalls on the property.
Key Highlights
- 7,139 SF office building on 1.03 acres
- Renovated in 2018, including a new roof and HVAC
- 43 on‑site parking stalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,554
Cap Rate
7.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,631,080
$2.6M
Cap Rate 7%
$1,879,343
$1.9M
Cap Rate 9%
$1,461,711
$1.5M
Market Conditions
NOI Build-Up for 7,139 SF
Gross rent
$192.8K $27.00/SF
− Vacancy
−$17.3K −$2.43/SF
EGI
$175.4K $24.57/SF
− OpEx
−$43.9K −$6.14/SF
NOI
$131.6K $18.43/SF
Area
Rochester, MN
Vacancy
9.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,631,080
Cap Rate 7%
$1,879,343
Cap Rate 9%
$1,461,711
Alternative Uses
Best Use
Office B
$1.88M
$1.64M – $2.19M
NOI $131,554 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,472 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
288
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The property includes 43 on-site parking stalls and office interiors with upgraded finishes.
Where is this office building located?
The property is located at 2905 Broadway Ave S Rochester, MN.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 7,139 SF office building on 1.03 acres; Renovated in 2018, including a new roof and HVAC; 43 on‑site parking stalls
