220 Broadway Ave Rochester, MN 55904
- Office Properties & Spaces
- 25,451 SF
- 0.78 lot acres
Current Use by Public Records
- Wild Animal Catcher Rochester / Animal Control Service / Bird Control Service
- Hubsource jobs, internships, and resources - by Rochester Area Chamber of Commerce / Employment Agency
- Invoice Factoring Rochester MN / Business Broker
- Greater Rochester Arts & Cultural Trust / Non-Profit Organization / Arts Organization
- Defense Tax Group | Tax Relief Settlement Attorney | Free Consultation / Tax Preparation Service / Tax Attorney
Property Details for 220 Broadway Ave
- Lot size
- 0.78 lot acres
- Property size
- 25,451 SF
- Property type
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a 25,451 square foot, Class B office building located at 220 Broadway Ave S in downtown Rochester, Minnesota. Currently vacant, this owner-user property boasts a strong net operating income (NOI) of $165,000 annually, representing an 8.00% cap rate. The asking price is $2,062,500, translating to $81.04 per square foot. The building features a flexible layout including private offices, open workspaces, and conference rooms, ideal for a variety of professional services, retail, or mixed-use businesses. Benefitting from prime visibility on Broadway Ave S, skyway access to downtown amenities and parking, and high foot traffic, this property is steps away from the Mayo Clinic. The building exterior underwent recent renovations in 2020. The main floor encompasses approximately 15,900 square feet, which includes approximately 3,000 square feet of exterior drive-thru land leased to a bank. An additional 9,551 square feet is located on the lower level. A lease with a qualified accounting firm is in place until August 31, 2028, providing a strong income stream for the new owner. The 0.78-acre lot offers significant potential. This single-unit building presents a rare opportunity to acquire a thriving downtown Rochester business space.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.4625
- Latitude
- 44.0209
