Views
Address
603 4th Street SE Rochester, MN
Price
$ 1,900,000
Property Attributes
  • ID#5737273
  • TypeCommercial
  • CountyOLMSTED
  • CityRochester
  • AreaMorse & Sargeants Add
  • Zip55904
  • StyleApartment
  • Year Built1957
  • Taxes$ 15088
  • Price$ 1,900,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage10000
  • Lot Size7,405 SqFt
Listing Provided Courtesy Of:
Edina Realty, Inc.
Data Source:
Northstar MLS (NSTAR) - 133 - MN
Property 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.

Price History
4/8/2021 Listed $1,900,000

General Features

Accessibility Other
Additional Parcels Description 640122015046, 640122015050
Additional Parcels Y/N Yes
City Rochester
Construction Materials Stucco, Wood Siding
Contingency None
County Olmsted
Current Use Food Service, Residential, Commercial, Vacant
Days on Market 154
Directions Take S Broadway or 3rd Ave SE, to 4th St SE, (downtown), go east on 4th St until crossing Bear Creek Bridge to former Roscoes Ribs and Good Things!
Garage Spaces 6
Grossincome 80400
Heating Forced Air
High School District Rochester
Lender Owned No
Net Operating Income 52000
Operatingexpense 28400
Property SubType Apartment
Property Type Commercial Sale
Sewer City Sewer/Connected
Standard Status Active
Street Name 4th
Subdivision Name Morse & Sargeants Add
Tax Annual Amount 15088
Tax Year 2020
Total Units 9
Utilities Heating Separate
Year Built 1957
Zoning Description Residential-Single Family, Residential-Multi-Family

Interior Features

Street Suffix Street
Unit Type Efficiencies, 1 Bedroom, 2 Bedroom, 3 Bedroom, 1 Room, 2 Room, 3 Room, 4 Room, 5 Room, 6 Room, 7 Room

Exterior Features

Foundationarea 10000
Inclusions Building, Land, Leases, Other
Lot Dimensions 164 x 269
Lot Size Area 0.17
Lot Size Units Acres
Parking Features Detached, Gravel, Asphalt, Shared Driveway, Paved
Water Source City Water/Connected
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 55904

Price
AVG $780K
$1.9M
Taxes
AVG $21,839
$15,088
Visits
AVG 40
44
Year Built
AVG 1949
1957
Walkscore
AVG 41
73
Data Provided by Walkscore ® not using MLS data

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