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Multi-Family

8+ Acres Development Land | Plus Billboard

37th St NE and 2nd Ave NE, Rochester, MN 55906

Listing Price: $1,950,000

Lot Size
8.13 acres
Price/Acre
$239,852
Land Type
Land

Investment Overview

Marcus & Millichap is pleased to present 8+ acres of prime development land for sale in Rochester, MN. The property is currently zoned B-4, but per Rochester City Planner, the site is currently being rezoned to allow for Mixed use. That process is expected to be completed in late 2022 or early 2023. The subject property is located along 37th Street Northeast, a busy corridor featuring over 25,000 cars per day and is surrounded by a nice blend of retail, office and service oriented businesses while having strong demographics. It also has an elementary school, two middle schools and a high school in close proximity. This area of Rochester has been seeing strong development growth including the following: River Glen Apartment Homes - newer development to the immediate south of the subject property. ROGA - Rochester Gymnastics Academy was recently developed just a block southeast of the subject land. HyVee Grocery, just to the west, recently completed a major remodel and expansion. Think Bank relocated to the adjacent corner from approximately 1 mile away. Tommy’s Express Car Wash recently opened for business right next to Think Bank. Haley Comfort Systems relocated their state-of-the-art showroom to the former Shopko property just to the east, doing a major renovation in the process. Restaurants Purple Goat and Tavern 22 have both recently opened adjacent to Haley's new showroom. Rochester is the county seat of Olmsted county, is the third-largest city in Minnesota, and has been frequently recognized since the 1980's as one of the best places to live in the United States. Mayo Clinic has its world headquarters in Rochester and forms the core of Rochester's economy. As of 2019, Mayo employed 36,000+ people and draws more than 2 million visitors annually. Mayo Clinic is in the process of a $6 Billion expansion called Destination Medical Center (DMC) during which Mayo will add in excess of 30,000 new employees to their Rochester Campus. The stability of the economy in Rochester as well as expected future growth make this an attractive investment.

Investment Highlights

  • Prime Development Land Zoned B-4 (Zoning Change Reportedly in the Works)
  • 8+ Acres (Buyer to Verify Size and Configuration)
  • Income From Billboard Sign
  • High Traffic Counts in Excess of 25,000 Cars Per day
  • Immediate Area Has Had Major Development During the Past Several Years
  • Currently Zoned B-4, With Zoning Change in Process to Allow for Mixed Use

Exclusively Listed By

Financing By

Multi-Family

8+ Acres Development Land | Plus Billboard

Listing Price: $1,950,000

Lot Size
8.13 acres
Price/Acre
$239,852
Land Type
Land

Investment Highlights

  • Prime Development Land Zoned B-4 (Zoning Change Reportedly in the Works)
  • 8+ Acres (Buyer to Verify Size and Configuration)
  • Income From Billboard Sign
  • High Traffic Counts in Excess of 25,000 Cars Per day
  • Immediate Area Has Had Major Development During the Past Several Years
  • Currently Zoned B-4, With Zoning Change in Process to Allow for Mixed Use

Investment Overview

Marcus & Millichap is pleased to present 8+ acres of prime development land for sale in Rochester, MN. The property is currently zoned B-4, but per Rochester City Planner, the site is currently being rezoned to allow for Mixed use. That process is expected to be completed in late 2022 or early 2023. The subject property is located along 37th Street Northeast, a busy corridor featuring over 25,000 cars per day and is surrounded by a nice blend of retail, office and service oriented businesses while having strong demographics. It also has an elementary school, two middle schools and a high school in close proximity. This area of Rochester has been seeing strong development growth including the following: River Glen Apartment Homes - newer development to the immediate south of the subject property. ROGA - Rochester Gymnastics Academy was recently developed just a block southeast of the subject land. HyVee Grocery, just to the west, recently completed a major remodel and expansion. Think Bank relocated to the adjacent corner from approximately 1 mile away. Tommy’s Express Car Wash recently opened for business right next to Think Bank. Haley Comfort Systems relocated their state-of-the-art showroom to the former Shopko property just to the east, doing a major renovation in the process. Restaurants Purple Goat and Tavern 22 have both recently opened adjacent to Haley's new showroom. Rochester is the county seat of Olmsted county, is the third-largest city in Minnesota, and has been frequently recognized since the 1980's as one of the best places to live in the United States. Mayo Clinic has its world headquarters in Rochester and forms the core of Rochester's economy. As of 2019, Mayo employed 36,000+ people and draws more than 2 million visitors annually. Mayo Clinic is in the process of a $6 Billion expansion called Destination Medical Center (DMC) during which Mayo will add in excess of 30,000 new employees to their Rochester Campus. The stability of the economy in Rochester as well as expected future growth make this an attractive investment.

Exclusively Listed By

Financing By

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