3780 Marketplace NW Dr Rochester, MN 55901-3226
- Strip malls
- 22,362 SF
- 2.73 lot acres
Current Use by Public Records
- Chipotle Mexican Grill / Fast Food Restaurant / Caterer
- Panera Bread / Caterer / Coffee Shop
- Yoonjin Yi, DDS / Dentist
- Park Dental Rochester / Dental Clinic
- Verizon / Cell Phone Store / Telephone Company
Property Details for 3780 Marketplace NW Dr
- Year built
- 2003
- Lot size
- 2.73 lot acres
- Property size
- 22,362 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 74.21.11.060104
- APU
- 742111060104
Description
Exceptional investment opportunity: Rochester Crossing, a 21,503 square foot, Class B shopping center located at 3780 Marketplace Dr NW, Rochester, MN 55901. This single-story, 10-unit center is 100% occupied with a diverse mix of national tenants, including Panera Bread, and benefits from a strong corporate guarantee and credit-rated franchisees. The property features a 4.6-year remaining lease term with rent bumps, a current NOI of $622,152, and a pro-forma NOI of $675,568, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.51%. The asking price is $10,370,000. Built in 2003 on a 2.73-acre lot, the center offers 175 parking spaces and enjoys excellent visibility and traffic counts, shadow-anchored by Target and Home Depot. The property is zoned MX-G and boasts a Net Lease (NNN) investment type. The high-traffic location, strong tenant mix, and favorable lease terms make this a compelling investment opportunity. Occupancy date is November 1, 2024. The property features a total of 22,362 square feet. APN: 74.21.11.060104.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $10,245,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $9,770,000
- 6.5%
- $8,630,000
- 7%
- $8,675,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $9,285,000
- Geo Method
- $8,125,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $9,460,000
- Retail
- $10,850,000
- Mixed-Use
- $9,375,000
- Hospitality
- $8,550,000
- Educational
- $9,680,000
- Residential Income
- $9,045,000
- Energy
- $11,445,000
- Income-Based Land
- $9,170,000
- Food Service
- $10,935,000
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.5002
- Latitude
- 44.0624
- CBSA code
- 40340
- CBSA name
- ROCHESTER, MN METROPOLITAN STATISTICAL AREA
