504 Center St Rochester, MN 55904
- Commercial real estate
- 2.29 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 504 Center St
- Lot size
- 2.29 lot acres
- Property type
- Commercial real estate
Description
This exceptional 2.29-acre residential land parcel presents a unique investment opportunity in the heart of Rochester, Minnesota. Located at 504 East Center Street, this property boasts a highly desirable location, just 0.6 miles from the Rochester Mayo Clinic CBD Campus and 1.4 miles from the Mayo Clinic's St. Mary's Campus, including its significant expansion. The site is within the Rochester Public School District 535, ensuring access to quality education. Current zoning and future land use designations permit medium-density residential development, aligning perfectly with the area's growth trajectory. The property benefits immensely from the ongoing $5 billion, 2.4 million square foot expansion of the Mayo Clinic Methodist campus, projected to generate 6,000 new jobs in Rochester. This substantial expansion fuels significant demand for housing and further enhances the value proposition of this land. The site's strategic location offers convenient access to a variety of amenities, including retail establishments, restaurants, and parks, all within walking distance. Furthermore, the possibility exists to acquire adjacent land parcels for assemblage, providing potential for larger-scale development projects. This is an exceptional opportunity to capitalize on Rochester's robust economic growth and burgeoning residential market. The asking price for this remarkable property is $3,900,000. The property's zip code is 55904, and it is situated in Olmsted County.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Olmsted
- State
- Minnesota
- Longitude
- -92.4564765
- Latitude
- 44.023245
