Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1004 15th Ave SE Rochester, MN 55904

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial package featuring duplex and commercial buildings on approximately 1-acre lot.

    Type:Mixed Use
    Lot size:
    1.00 Acre
    Added:
    Sep 30, 2023
    Days on Market:
    932
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 1004 15th Ave SE

    General Information

    Standard status
    Active
    Lot size
    1.00 Acre
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Jay Christenson

    Listing agent Jay Christenson License #MN 8272275

    Listing office LOAM Commercial Real Estate

    Listing date Sep 30, 2023

    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 LOAM Commercial Real Estate

    Overview

    Commercial Package with Mixed-Use Buildings

    This commercial package features a duplex and three commercial buildings situated on an approximately 1-acre lot. The property benefits from high visibility, located across from Planet Fitness, Cub Foods, and the Eagles Club. The zoning allows for mixed-use center and medium-density residential. Compatible non-residential uses include lodging, offices, retail, and civic and community uses. Other uses may be viable with planning permission approval.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    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
    -92.4433579
    Latitude
    44.0108528

    Nearby Similar for Sale

    • $299,000

      Inviting Office Units in Rochester

      Warm office units with natural light and convenient location.
      300 3rd Ave SE, Rochester, MN 55904
      View Details
    • $14

      Flexible Commercial Building For Sale

      New commercial building with office and shop space for sale.
      1019 Chester Avenue SE, Marion Twp, MN 55904
      View Details
    • $800

      Rochester Commercial Storage Units Available

      Four storage units available, can be combined, easy highway access.
      815 36th Avenue SE, Rochester, MN 55904
      View Details
    • $400,000

      Broadway Location Mixed-Use Opportunity

      Commercial space with residential income potential in prime location.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details
    • $6,500,000

      Rochester MN Hotel Opportunity

      Centrally located Rochester, MN hotel near Mayo Clinic.
      435 16th Avenue NW, Rochester, MN 55901
      View Details
    • $3,000

      Broadway Location with Income Potential

      Flexible commercial space with residential income opportunity in Rochester, MN.
      917 Broadway Avenue N, Rochester, MN 55906
      View Details
    • $1,250,000

      Versatile Mixed-Use Estate Near Rochester

      7.58-acre mixed-use estate with residential, professional, and industrial structures.
      6906 38th Avenue SE, Pleasant Grove Twp, MN 55904
      View Details
    • $1,350,000

      Rochester Multifamily Condo Units

      Seventeen individually titled condo units, fully rented, great cash flow.
      540 Northern Hills Drive NE, Rochester, MN 55906
      View Details
    • $3,500,000
      15,021 SF

      Northwest Gateway Office Investment

      Class A office space near Mayo Clinic.
      975 34th NW Ave, Rochester, MN
      View Details
    • $3,200,000

      Class A Office Building For Sale

      Class A office building with strong tenant mix and location.
      975 34th Ave NW, Unit 3 & 4, Rochester, MN 55901
      View Details
    • $27
      25,727 SF

      Modern Office Space in Rochester

      Versatile office space in a rapidly growing Rochester sector.
      3038 Jeremiah Ln NW, Rochester, MN 55901
      View Details
    • $2,199,000
      18,404 SF

      Rochester Church with Redevelopment Potential

      Church property on 3+ acres near downtown Rochester.
      1727 Walden SW Lane, Rochester, MN 55902
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Commercial package featuring duplex and commercial buildings on approximately 1-acre lot.
    Where is this mixed-use property located?
    The property is located at 1004 15th Ave SE Rochester, MN.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Multiple buildings included: a duplex and 3 commercial buildings.; Approximately 1 acre lot size.; High visibility location across from Planet Fitness, Cub Foods, and the Eagles Club.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Christenson
    Real Estate License ID: MN 8272275
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!