Investment Overview

Marcus & Millichap is pleased to present 8+ acres of prime development land for sale in Rochester, MN. The property was recently rezoned when the City of Rochester adopted the new Unified Development Code (UDC) which, per City Planning, allows for this land to be developed into multi-family housing. Other uses are available as well. The UDC is available here: https://www.rochestermn.gov/Home/Components/Topic/Topic/11811/ or inquire with broker. 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.