318 Broadway AveRochester, MN 55904

Property Details for 318 Broadway Ave

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

6,363 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

64.02.11.014436

APU

640211014436

Description

This exceptional 2,121 square foot office space, situated in a historic two-story building (1900) in downtown Rochester, MN (55904), offers a unique blend of character and modern functionality. Located at 318 Broadway Ave S, near 4th St SW, this Class B property boasts 12-foot ceilings, exposed brick, and an abundance of natural light. The open floor plan is ideal for creative office, coworking, or traditional office uses. Three large, ceiling-to-floor windows provide picturesque views of the city. The space includes a break room and ample room for customization, allowing for the creation of a comfortable employee lounge or client gathering area. The building sits on a 0.051-acre lot and is zoned commercial (APN: 64.02.11.014436). While the building itself has no parking spaces, the central downtown location offers easy access to various amenities. Signage opportunities are available to enhance your business visibility. The total building size is 8,484 square feet, with 2,121 square feet currently vacant. This single-tenant space is perfect for a business seeking a unique and inspiring workspace in a vibrant urban setting. The approximate monthly rent is $2,543.

• CAP approach

  CAP return

  Valuation

  6%

  $1,047,420

  6.5%

  $966,849

  7%

  $897,788

• Comparable approach

  Method

  Valuation

  Relative Method

  $324,768

  Geo Method

  $324,768

• Alternative Use

  Use

  Valuation

  Residential

  $1,198,893

  Hospitality

  $1,098,180

  Educational

  $913,672

  Medical

  $945,095

  Retail

  $1,421,268

Location Insight

City

Rochester

County

Olmsted

State

Minnesota

Latitude

44.0198

Longitude

-92.4627

CBSA code

40340

CBSA name

ROCHESTER, MN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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