16th Ave NW Commercial Potential | 432 16th Ave NW
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16th Ave NW Commercial Potential 432 16th Ave NW
5,336 SF Retail Building Rochester, MN 55901 $1,200,000 ($225/SF)
Investment Highlights
- Prime Location: Close to amenities and major thoroughfares.
- Traffic: 4950 AADT (Average Annual Daily Traffic) on 16th Ave NW
- Lot Size: Approximately 0.86 acres (approximately 37,462 square feet)
- Development Potential: Explore various options for land use.
- Parcels/Zoning: Consists of 2 parcels. Currently zoned as MXG.
Executive Summary
Unlock the Potential! Discover this prime property that once housed a popular restaurant, now cleared and transformed into a versatile shell space, ready for your creative vision. Located in an established residential neighborhood surrounded by a vibrant mix of retail, this lot offers endless possibilities for residential, commercial, or mixed-use development.
Land Description: This property consists of two parcels (0.86 Acres), providing exceptional flexibility for your project. With a high visibility rate of 4,950 AADT, you’ll benefit from easy access and strong exposure, making it an ideal spot for your next venture.
Building Information: The existing structure can be repurposed to suit your needs or torn down to make way for your vision. Whether you envision a modern residential complex, a vibrant retail hub, or an innovative mixed-use space, the canvas is yours to design!
Neighborhood Highlights: Residents will appreciate the convenience of nearby parks, restaurants, and shopping centers, creating a dynamic environment that attracts both visitors and locals. This prime location is set to become a thriving hub for future success.
Investment Opportunity: Don’t miss out on this exceptional chance to capitalize on the growing demand in this desirable area. Your vision can take shape here—transform this clean, ready-to-develop space into something extraordinary!
Land Description: This property consists of two parcels (0.86 Acres), providing exceptional flexibility for your project. With a high visibility rate of 4,950 AADT, you’ll benefit from easy access and strong exposure, making it an ideal spot for your next venture.
Building Information: The existing structure can be repurposed to suit your needs or torn down to make way for your vision. Whether you envision a modern residential complex, a vibrant retail hub, or an innovative mixed-use space, the canvas is yours to design!
Neighborhood Highlights: Residents will appreciate the convenience of nearby parks, restaurants, and shopping centers, creating a dynamic environment that attracts both visitors and locals. This prime location is set to become a thriving hub for future success.
Investment Opportunity: Don’t miss out on this exceptional chance to capitalize on the growing demand in this desirable area. Your vision can take shape here—transform this clean, ready-to-develop space into something extraordinary!
Property Facts Under Contract
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,336 SF
Building Class
C
Year Built
1964
Price
$1,200,000
Price Per SF
$225
Tenancy
Single
Building Height
1 Story
Building FAR
0.80
Lot Size
0.15 AC
Zoning
Commercial - The city of Rochester has currently zoned as MXG.
Parking
50 Spaces (9.37 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
- Perkins Restaurant & Bakery
- Accommodation and Food Services
-
99,999 SF
- -
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
| Perkins Restaurant & Bakery | Accommodation and Food Services | 99,999 SF | - | - |
Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (81)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $521,000 | |
| Land Assessment | $676,700 | Total Assessment | $1,197,700 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$676,700
Improvements Assessment
$521,000
Total Assessment
$1,197,700
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16th Ave NW Commercial Potential | 432 16th Ave NW
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