Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land For Sale Title is generated by Realmo AI

    535 37th St NE, Rochester, MN 55906

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    6.94 acres of commercial land in NE Rochester.

    Type:Land
    Lot size:
    6.94 Acres
    Added:
    May 6, 2024
    Days on Market:
    748
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 535 37th St NE

    General Information

    Standard status
    Active
    Lot size
    6.94 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Leigh Ann Peltoma

    Listing agent Leigh Ann Peltoma License #40055939

    Listing office RGI Group

    Listing date May 6, 2024

    Source Crexi

    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 RGI Group

    HighLights

    • Prime commercial land totaling 6.94 acres.
    • Highly sought‑after location in NE Rochester.
    • Corner lot at 37th ST and N Broadway Ave.
    • Excellent visibility.
    • Excellent accessibility.
    • Great potential for growth and success.

    Overview

    Three parcels totaling 6.94 acres of commercial land are available for sale. The property is located at the corner of 37th Street and N Broadway Avenue in Northeast Rochester. The location offers visibility and accessibility suitable for various commercial developments.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.454312
    Latitude
    44.059044

    Nearby Similar for Sale

    • $14

      Flexible Commercial Building For Sale

      New commercial building with office and shop space for sale.
      1019 Chester Avenue SE, Marion Twp, MN 55904
      View Details
    • $1,200,000

      Highway Frontage Commercial Property

      4 acres with highway frontage suitable for various businesses.
      7450 Highway 14 E, Rochester, MN 55904
      View Details
    • $425,000

      Commercial Lot in Northwest Rochester

      Commercial lot for sale in high-demand Northwest Rochester area.
      3046 Jeremiah Lane NW, Rochester, MN 55901
      View Details
    • $800

      Rochester Commercial Storage Units Available

      Four storage units available, can be combined, easy highway access.
      815 36th Avenue SE, Rochester, MN 55904
      View Details
    • $339,900

      Land in Prime Rochester Location

      6+ acre lot near Mayo Clinic and city amenities.
      8426 11th Avenue NW, Rochester, MN 55901
      View Details
    • $3,000

      Broadway Location with Income Potential

      Flexible commercial space with residential income opportunity in Rochester, MN.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details
    • $1,250,000

      Versatile Mixed-Use Estate Near Rochester

      7.58-acre mixed-use estate with residential, professional, and industrial structures.
      6906 38th Avenue SE, Pleasant Grove Twp, MN 55904
      View Details
    • $210,000

      Residential Land in Century Valley

      Residential land for sale in a desirable Rochester subdivision.
      3453 Bella Terra Road NE, Rochester, MN 55906
      View Details
    • $295,000

      Residential Land Near Mayo Clinic

      Residential lots with natural amenities, convenient to Mayo Clinic.
      2951 Serenity Lane NE, Rochester, MN 55906
      View Details
    • $750,000

      Residential Land in Southwest Rochester

      16.77 acres with development potential in a prime location.
      Tbd 11th Ave. SW, Rochester, MN 55902
      View Details
    • $295,000

      Residential Land Near Mayo Clinic

      Residential lots with natural amenities, convenient location, Rochester, Minnesota.
      2906 Serenity Lane NE, Rochester, MN 55906
      View Details
    • $350,000

      Broadway Location Mixed-Use Property

      Commercial space with residential income potential in Rochester, Minnesota.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details

    FAQs

    What type of property is this?
    Commercial land - 6.94 acres of commercial land in NE Rochester.
    Where is this commercial land located?
    The property is located at 535 37th St NE Rochester, MN.
    What is the asking price?
    The asking price for this property is $3,325,370.
    What are key features of this property?
    This property features: Prime commercial land totaling 6.94 acres.; Highly sought‑after location in NE Rochester.; Corner lot at 37th ST and N Broadway Ave.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Leigh Ann Peltoma
    Real Estate License ID: 40055939
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    535 37th St NE, Rochester, MN 55906
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!