3780 Marketplace DrRochester, MN 55901

For Sale
$10,370,000

10-Tenant Shopping Center, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
92
Exceptional investment opportunity: Rochester Crossing, a 21,503 square foot, Class B shopping center located at 3780 Marketplace Dr NW, Rochester, MN 55901. This single-story, 10-unit center is 100% occupied with a diverse mix of national tenants, including Panera Bread, and benefits from a strong corporate guarantee and credit-rated franchisees. The property features a 4.6-year remaining lease term with rent bumps, a current NOI of $622,152, and a pro-forma NOI of $675,568, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.51%. The asking price is $10,370,000. Built in 2003 on a 2.73-acre lot, the center offers 175 parking spaces and enjoys excellent visibility and traffic counts, shadow-anchored by Target and Home Depot. The property is zoned MX-G and boasts a Net Lease (NNN) investment type. The high-traffic location, strong tenant mix, and favorable lease terms make this a compelling investment opportunity. Occupancy date is November 1, 2024. The property features a total of 22,362 square feet. APN: 74.21.11.060104.

Highlights

  • 100% occupied, 21,503 square foot shopping center shadow anchored by Target and Home Depot.
  • High-traffic location with a top-performing Target drawing 2.4 million annual visitors (top 4% nationally).
  • Excellent visibility and accessibility, situated off Highway 52 with over 75,860 vehicles passing daily.

Property Details for 3780 Marketplace Dr

Property type
Lifestyle centers, Power centers
Square Feet
22,362 SF
Class
B
Year Built
2003
Buildings
1
Stories
1
Lot Size (sq. ft)
118,919 SF
Units
10

Location Insight

City
Rochester
County
Olmsted
State
Minnesota
Latitude
44.062748752215
Longitude
-92.501060467201
3780 Marketplace Dr, Rochester, Minnesota

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3780 Marketplace Dr
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