$1,900,000

603 4th Street SE

Rochester MN, 55904

Description

This is an assembled 5 parcel estimated at slightly over 1 acre on the edge of downtown. All 5 properties must be sold together and intended for future development or can be held as rental property ($80,000 yr/gross) until ready for multi-use development. Plans for condo or apartment project are ready for discussion. 54 units with underground parking is the favored plan thus far. Other options abound. Contact Realtors for details. This is a great opportunity for redevelopment and perfect location. On Mayo park, famous for concerts by the river, only 3 blocks from skyway system connecting all of downtown and Mayo campus. Nearby to emerging University of Minnesota Rochester campus. Owner occupied condos would be ideal. Main level could house specialty grocery chain, caf, coffee shop, even day care possibility. Post card views of downtown from any floor. River walk, bike trails, across the street. It is all here and open for redevelopment of this site.

Details

MLS#5737273
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1957
Days On Site14

Features

Units9
Acreage0.17
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Area Information
StateMN
CountyOlmsted
CityRochester
Zip Code55904
Listing VS Median (in 55904)
Price:
$1,900,000
low | high
Med:
$32,500
100% of Average
On Site:
14
low | high
Med:
427
3.27868852459% of Average
Sourced by Back At You
Listing Updated: April 8, 2021 12:50:36 PM PDT
Thomas H. Meilander LogoMLS Number: 5737273
Listing Provided By:
Thomas H. Meilander  of  Edina Realty Inc.

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