Mixed-Use Office and
For Sale
$340,000
917 Broadway Avenue N, Rochester, MN 55906
For sale mixed-use property offering 1,999 sq ft of office and retail space.
Property Size1,999 SF
Price / SF$170.09
Days on Market156
Property Features for 917 Broadway Avenue N
General Information
Standard status
Active
Size
1,999 SF
Property subtype
Commercial
Zoning
Business/Commercial
Taxes and HOA fees
Annual Taxes
$9,258
Building Details
Year Built
1910
Stories
2
Units
2
Listing Agency:
Keller Williams Premier Realty
(507) 202-3648
Listed By:
Gregory Wildfeuer · License #40576279
(507) 202-3648
Source:
Ivyrealestategroup
Added: Mar 24
Changed: Aug 23
Last Checked: Aug 26 at 10:06AM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
This mixed-use property is offered for sale and totals 1,999 square feet, combining office and retail space within one asset.
Located at 917 N Broadway Ave in Rochester, MN 55901, the building is positioned for tenants seeking a mixed-use setup with both office and retail components under one roof.
The available footprint supports a flexible configuration for office and retail uses, making it suitable for an owner-occupant or a buyer looking to acquire space that spans both categories.
Located at 917 N Broadway Ave in Rochester, MN 55901, the building is positioned for tenants seeking a mixed-use setup with both office and retail components under one roof.
The available footprint supports a flexible configuration for office and retail uses, making it suitable for an owner-occupant or a buyer looking to acquire space that spans both categories.
Key Highlights
- Mixed‑use property for sale offering 1,999 sq ft
- Includes office and retail space within the 1,999 sq ft footprint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$450,000
$450.0K
Cap Rate 7%
$321,429
$321.4K
Cap Rate 9%
$250,000
$250.0K
Market Conditions
NOI Build-Up for 1,999 SF
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.
Gross rent
$33.1K $16.56/SF
− Vacancy
−$960 −$0.48/SF
EGI
$32.1K $16.08/SF
− OpEx
−$9.6K −$4.82/SF
NOI
$22.5K $11.26/SF
Area
Rochester, MN
Vacancy
2.90%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$450,000
Cap Rate 7%
$321,429
Cap Rate 9%
$250,000
Alternative Uses
Best Use
Office B
$526.2K
$460.5K – $614.0K
NOI $36,837 @ 7.0% cap · market cap 10.83%
Second Best
Retail
$321.4K
$281.3K – $375.0K
NOI $22,500 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$769.9K
$673.7K – $898.2K
NOI $53,894 @ 7.0% cap · market cap 15.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 55906, MN
19,559
Population
8,798
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
95%
High-School Grad
61.5 sq mi
ZIP Area
318
Density / Sq Mi
$104,146
Median Household Income
$54,380
Median Earnings
$1,152
Median Rent
$350,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - For sale mixed-use property offering 1,999 sq ft of office and retail space.
Where is this office units located?
The property is located at 917 Broadway Avenue N Rochester, MN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Mixed‑use property for sale offering 1,999 sq ft; Includes office and retail space within the 1,999 sq ft footprint
