Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Space in Downtown Rochester Title is generated by Realmo AI

    217 14th Ave SW, Rochester, MN 55902

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Versatile space in a high-demand downtown area.

    Type:Retail, Office, Restaurant
    Added:
    Jul 9, 2024
    Days on Market:
    695
    Last Refresh:
    May 12 at 11:34 pm

    Property Features for 217 14th Ave SW

    General Information

    Standard status
    Active
    Property subtype
    Retail, Office, Restaurant

    Building Details

    Year Built
    2018

    Spaces For Lease

    at 217 14th Ave SW Contact us

    Main Floor Space $25/Mo

    Size
    2,724 SF
    Type
    Retail, Office, Restaurant
    Features:nPremium Location: Near Mayo Clinic, high visibility, and foot traffic.nSpacious...
    show more
    Contact us

    We can help!

    Listing Contact
    Dylan Carty
    Dylan Carty

    Listing agent Dylan Carty License #MN 40372226

    Listing office Realty Growth Incorporated

    Listing date Jul 9, 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 Realty Growth Incorporated

    HighLights

    • Prime downtown location in a thriving area.
    • Versatile mixed‑use space suitable for retail, office, or hybrid concepts.
    • High visibility with strong car counts.
    • Vibrant daytime population.
    • Located on the 1st floor.
    • Property built in 2018.

    Overview

    This mixed-use space is available for lease at The Berkman, situated on the 1st floor. The property benefits from high visibility due to strong car counts and a vibrant daytime population in the thriving downtown area. This location is suitable for retail, office, or a hybrid concept combining both uses, offering an opportunity to establish a brand in a desirable area.
    Location Intelligence

    Current Use by Public Records

    Pamela Stead, Stead ... Real Estate Agency Chicky's Closet - Children's ... Clothing Store The Berkman Apartments - Public ... Parking Lot & Garage The Berkman Short Term ... Hotel & Motel Parking at The Berkman Parking Lot & Garage

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.484378
    Latitude
    44.020781

    Nearby Similar for Lease

    • $129-$2,556/Mo
      11-1,292 SF

      MN, Rochester - 318 Commons

      318 1St Ave, Rochester, MN 55902
      View Details
    • $14 SF/Yr
      2,000 SF

      Prime Retail/Office Space Available

      Highly visible Rochester location suitable for retail or office tenants.
      1710 37th Street Northwest, Rochester, MN 55901
      View Details
    • $25 SF/Yr
      2,190 SF

      Prime Corner Retail with Drive-Thru

      High-visibility retail space with drive-thru on a corner lot.
      209 E Center St, Rochester, MN
      View Details
    • $40 SF/Yr
      2,618 SF

      Versatile Office Space Available

      Adaptable 4,000 sq. ft. space suitable for various businesses.
      20 2nd Ave SW, Rochester, MN
      View Details
    • $14 SF/Yr
      7,216 SF

      Functional Office and Warehouse Space

      7,216 SF commercial property with office and warehouse space.
      3621 9th NW St, Rochester, MN
      View Details
    • $17 SF/Yr
      2,520 SF

      Retail Space in Lowertown District

      Standalone commercial building in Rochester's thriving Lowertown retail district.
      608 7th St NW, Rochester, MN
      View Details
    • $12 SF/Yr
      30,000 SF

      New Flex-Industrial Space in Rochester

      New construction flex-industrial space with scalable footprint and high ceilings.
      4140 Hwy 14 E, Rochester, MN 55904
      View Details
    • $6 SF/Yr
      2,635 SF

      Versatile Flex Space in Rochester

      Flexible office and flex-space near Mayo Clinic.
      15 Civic Center Dr NE, Rochester, MN
      View Details
    • Contact for pricing
      2,580 SF

      Prime Retail/Restaurant Space Available

      2,580 RSF retail/restaurant space in a 250-room hotel.
      101 11th Ave Southwest, Rochester, MN 55902
      View Details
    • $13 SF/Yr
      3,147 SF

      Corner Office Suite For Rent

      Bright office suite with flexible layout available for rent.
      7389 Airport View Dr SW, Rochester, MN
      View Details
    • $14 SF/Yr

      Rochester Office and Flex Space

      Office and flex space in downtown Rochester near Mayo Clinic.
      15 Civic Center Dr NE, Rochester, MN 55901
      View Details
    • $22 SF/Yr

      Prime Office Space Near Mayo

      High-visibility office space with amenities in downtown Rochester.
      1101 2nd Street Southwest, Rochester, MN 55902
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Versatile space in a high-demand downtown area.
    Where is this mixed-use property located?
    The property is located at 217 14th Ave SW Rochester, MN.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown location in a thriving area.; Versatile mixed‑use space suitable for retail, office, or hybrid concepts.; High visibility with strong car counts.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dylan Carty
    Dylan Carty
    Real Estate License ID: MN 40372226
    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
    217 14th Ave SW, Rochester, MN 55902
    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!