Infill Development
917 2nd St SW Rochester, MN 55902
917 2nd St SW, Rochester, MN, 55902
Contact for pricing
For Sale
Contact for pricing
Infill site in downtown Rochester near Mayo Clinic campuses and within the DMC–St. Mary’s District.
Property Size6,460 SF
Price / SF$201.24
Days on Market92
Property Features for 917 2nd St SW
General Information
- Standard status
- Active
- Size
- 6,460 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1916
Listing agency
Hamilton Real Estate Group
(507) 281-1002
Listed by
Andy Bianco · License #40976637
Source
Crexi
Added: Apr 22 Updated: Jul 21 at 5:12AM Checked: Jul 21 at 5:12AM
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 Hamilton Real Estate Group
Investment Insights
Based on property information with market context.
This infill development site is positioned in the heart of Rochester and is anchored by the Mayo Clinic. Public remarks note Mayo Clinic has 44,000+ employees and that a $5B expansion is underway, supporting a range of development concepts including multifamily, senior housing, hospitality, or mixed-use.
The site is described as within the DMC – St. Mary’s District (a public-private growth initiative) and within walking distance to Mayo Clinic Hospital, Saint Mary’s Campus, and Mayo Clinic Downtown Campus. It is also located along the Link Bus Rapid Transit (BRT) line currently under construction, with direct access to all Mayo campuses.
Address: 917 2nd St SW, Rochester, MN 55902.
The site is described as within the DMC – St. Mary’s District (a public-private growth initiative) and within walking distance to Mayo Clinic Hospital, Saint Mary’s Campus, and Mayo Clinic Downtown Campus. It is also located along the Link Bus Rapid Transit (BRT) line currently under construction, with direct access to all Mayo campuses.
Address: 917 2nd St SW, Rochester, MN 55902.
Key Highlights
- Infill development site in downtown Rochester near Mayo Clinic campuses
- Walking distance to Mayo Clinic Hospital, Saint Mary’s Campus, and Mayo Clinic Downtown Campus
- Located within the DMC–St. Mary’s District (public‑private growth initiative)
Local Financial Insights For Apartment 5plus
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 | $116.3k | $18.00 |
| − Vacancy | −$5.2k | −$0.81 |
| EGI | $111.0k | $17.19 |
| − OpEx | −$50.0k | −$7.74 |
| NOI | $61.1k | $9.45 |
6,460 SF · lease $18.00/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$872.5K
$763.5K – $1.02M
NOI $61,076 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,166 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Infill site in downtown Rochester near Mayo Clinic campuses and within the DMC–St. Mary’s District.
Where is this multifamily property located?
The property is located at 917 2nd St SW Rochester, MN.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Infill development site in downtown Rochester near Mayo Clinic campuses; Walking distance to Mayo Clinic Hospital, Saint Mary’s Campus, and Mayo Clinic Downtown Campus; Located within the DMC–St. Mary’s District (public‑private growth initiative)
