a Berkshire Hathaway affiliate

$1,900,000

603 4th Street SE, Rochester, MN 55904


$1,900,000

Courtesy: Edina Realty, Inc. Listed by: Edina Realty, Inc.

603 4th Street SE Rochester, MN 55904

For Sale MLS# 5494840

10,000 sq ft Commercial

Data current as of {{getLocalTime('2021-02-25T05:35:34Z')}}

Details

MLS# 5494840

Description for 603 4th Street SE, Rochester, MN, 55904


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, café, 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.

Listing Information


Property Type: Commercial, Apartments and Retail,Business Opportunity,Apartments/Multi Family,Other

Status: Active

Lot Size: 0.17 Acres

Square Feet: 10,000 sq ft

Year Built: 1957

Foundation: 10,000 sq ft

Garage: Yes

Stories:

Construction:

Property Attached: No

Date Available:

Model Home:

Development:

Completion date:

Subdivision: Morse & Sargeants Add

Builder:

Foundation:

Total Units: 9

Current Use: Food Service,Residential,Commercial,Vacant

Background Check: No

Furnished:

Smoking Permitted: No

In Foreclosure: No

Lender Owned: No

Potential Short Sale: No

Auction: No

County: Olmsted

Days On Market: 312

HERS Score:

Construction Status: Previously Owned

School Information


District: 535 - Rochester

Elementary:

Middle:

High:

Interior Features


Square Footage above:

Square Footage below:

Flooring:

Accessibility: Other

Additional Interior Features:

Utilities


Water: City Water/Connected

Sewer: City Sewer/Connected

Available Utilities: Heating Separate

Other Utilities:

Heating: Forced Air, Natural Gas

Exterior / Lot Features


Garage Spaces: 6

Parking Spaces: 5

Parking Description: Driveway - Shared, Detached Garage, Driveway - Gravel, Driveway - Asphalt, Paved Lot

Exterior: Wood, Stucco

Lot View:

Lot Dimensions: 164 x 269

Farm Type:

Crop Type:

Zoning: Residential-Single,Residential-Multi-Family

Additional Exterior/Lot Features:

Soil Type:

Tillable Acres:

Driving 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!

Financial Considerations


Other Deposit Fees:

Covenants/Deed Restrictions:

Terms:

Tenant Pays:

Owner Pays:

Annual Income: $80,400

Annual Expense: $28,400

Ownership Type:

Tax/Property ID: 640122015044

Tax Amount: $12,382

Tax Year: 2019

HomeStead Description: Non-Homesteaded

Price Changes


$1,900,000 Original Price
$1,900,000 Current Price
+$0 Total Change
Date Price Change
2/29/2020 02:55 PM $1,900,000

Sales History

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Schools nearby 603 4th Street SE

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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.

SchoolDigger® Rating

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Status Definitions

For sale: Properties which are available for showings and purchase

Active contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Coming soon: Properties which will be on the market soon and are not available for showings.

Contingent and Pending statuses may not be available for all listings