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    280 Penny Ln Rochester, MN 55906

    Sponsored
    For Sale
    $849,900

    3+ Acre Lot, Utilities Connected, Ready to Build

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 3.03-acre commercial lot, located at 280 Penny Ln NE in Rochester, Minnesota (55906), presents a unique development opportunity. Zoned for commercial use, this property boasts a substantial 131,840 square feet of land, offering ample space for a variety of commercial ventures. The APN is 742314083636. Situated in Olmsted County, this land benefits from its strategic location near established retail and residential areas, ensuring high visibility and accessibility. The property's proximity to 37th St NW, a major thoroughfare with a daily traffic count of 23,300 vehicles, further enhances its commercial potential. All utilities are already connected, eliminating significant upfront costs and expediting the development process. A completed parking lot is also in place, adding immediate value and convenience. This ready-to-build site is priced at $849,900 and is ideal for commercial or mixed-use development, offering investors a compelling opportunity to capitalize on Rochester's thriving economy and prime location.

    Property Features for 280 Penny Ln

    General Information

    Property type
    Land

    HighLights

    • Over 3‑acre land parcel
    • Excellent 37th St NW location
    • Ample on‑site parking available
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Kitchen & Bath Garden Center Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.460709
    Latitude
    44.058371

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    FAQs

    What type of property is this?
    Land - 3+ Acre Lot, Utilities Connected, Ready to Build
    Where is this land located?
    The property is located at 280 Penny Ln Rochester, MN.
    What is the asking price?
    The asking price for this property is $849,900.
    What are key features of this property?
    This property features: Over 3-acre land parcel; Excellent 37th St NW location; Ample on-site parking available
    Request Owner's contact information
    280 Penny Ln Rochester, MN 55906
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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
    280 Penny Ln Rochester, MN 55906
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