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    115 16Th Ave Rochester, MN 55901

    Sponsored
    For Lease
    $19 SF/Yr

    Rochester, MN: Versatile Office & Retail

    Lot size:
    109,168 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property, located at 115 16th Ave NW in Rochester, Minnesota, presents a unique investment opportunity. The property encompasses a total of 109,168 square feet across two, two-story buildings situated on a 5.45-acre lot. Currently, 3,000 square feet of space is vacant, offering immediate potential for lease income. The property is classified as Class B and was constructed in 1979. Zoned for commercial use (APN 743442083369, Olmsted County), it boasts ample parking with 300 spaces available. The flexible layout is suitable for a variety of uses, including retail, office, and restaurant establishments. Two spaces are currently available, ranging from approximately 5,000 to 5,481 square feet (tenant verification recommended). The property's prime location in the Miracle Mile area provides easy access to numerous amenities, including retail stores, grocery stores, hotels, restaurants, and convenience stores. This versatile space is perfect for both large national companies and smaller businesses seeking a prominent location in a thriving community. The open layout allows for customizable build-outs to meet specific tenant needs. This is an excellent opportunity to acquire a well-located commercial property with significant upside potential.

    Property Features for 115 16Th Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    109,168 SF
    Class
    B
    Total Rate
    172849.33

    Building Details

    Year Built
    1979
    Buildings
    2
    Stories
    2

    Unit(s) available at that property

    Space
    Retail/Restaurant Space For Lease
    Size
    5,000 SF
    Rate per SF
    $19
    Space
    Retail Space with Exceptional Highway Vi
    Size
    0 SF

    HighLights

    • 109,168 SF Class B commercial property on 5.45 acres in Rochester, MN's Miracle Mile, with 300 parking spaces.
    • High visibility with large display windows and highway frontage.
    • Convenient location near St. Mary's Hospital (Mayo Clinic) and major highway.
    • Recently upgraded with a new roof (2024) and modern façade (approx. 5 years ago). ADA‑compliant access.
    • Currently 3,000 SF vacant; two available spaces (5,000‑5,481 SF, tenant verification recommended).
    Property Profile Location Intelligence

    Current Use by Public Records

    Bethany Ganz Nurse Practitioner Miracle Mile Shopping Mall

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4866925
    Latitude
    44.0241747

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    FAQs

    What type of property is this?
    Restaurant - Rochester, MN: Versatile Office & Retail
    Where is this restaurant located?
    The property is located at 115 16Th Ave Rochester, MN.
    What is the lease rate?
    The lease rate is $0.00-$19 SF/Yr.
    What are key features of this property?
    This property features: 109,168 SF Class B commercial property on 5.45 acres in Rochester, MN's Miracle Mile, with 300 parking spaces.; High visibility with large display windows and highway frontage.; Convenient location near St. Mary's Hospital (Mayo Clinic) and major highway.
    Request Owner's contact information
    115 16Th Ave Rochester, MN 55901
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    Rochester, MN 55901
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    Realmo Value Estimation

    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.

    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.

    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
    115 16Th Ave Rochester, MN 55901
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