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1751 US-52 - Allen Media Broadcasting 8,582 SF Specialty Building Offered at $4,103,000 at a 7.75% Cap Rate in Rochester, MN 55901
INVESTMENT HIGHLIGHTS
- 8,582 SF property, 100% leased to Allen Media Broadcasting
- Strategic location serving the Rochester and Mason City areas
- Stable tenant in the broadcasting industry
- 15.5-year NNN lease with attractive renewal options and rent bumps
- Rochester, MN is home to the Mayo Clinic, a premier medical center
EXECUTIVE SUMMARY
Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to exclusively offer for sale the fee-simple interest in the single-tenant, broadcasting facility (the “Property” or “Asset”) fully leased to Allen Media Broadcasting and located at 1751 US-52, Rochester, MN 55901.
The Property totals 8,582 SF is fully occupied by Allen Media Broadcasting, a media broadcasting company with 24 stations across 13 states (the “Tenant”), a subsidiary of Allen Media Group. The Property contains the operations of KIMT3 news, a CBS affiliate, who conducts their broadcasts for news in the Rochester and Mason City area. The lease has 15.5 years remaining with a NNN lease structure, offering investors long-term cash flow, and features four (4), five-year renewal options and attractive annual rent bumps throughout the primary term & renewal options.
Rochester, Minnesota is a thriving mid-sized city located in the southeastern part of the state, approximately 75 miles southeast of Minneapolis-Saint Paul. With a population of 124,000, it is the third-largest city in Minnesota. Rochester is internationally renowned as the home of the Mayo Clinic, one of the world's premier medical centers, which drives the city's economy and attracts patients, medical professionals, and researchers from around the globe. The Mayo Clinic St. Mary’s Campus, a 1,265-bed hospital, is located 1.5 miles from the Asset.
The Property totals 8,582 SF is fully occupied by Allen Media Broadcasting, a media broadcasting company with 24 stations across 13 states (the “Tenant”), a subsidiary of Allen Media Group. The Property contains the operations of KIMT3 news, a CBS affiliate, who conducts their broadcasts for news in the Rochester and Mason City area. The lease has 15.5 years remaining with a NNN lease structure, offering investors long-term cash flow, and features four (4), five-year renewal options and attractive annual rent bumps throughout the primary term & renewal options.
Rochester, Minnesota is a thriving mid-sized city located in the southeastern part of the state, approximately 75 miles southeast of Minneapolis-Saint Paul. With a population of 124,000, it is the third-largest city in Minnesota. Rochester is internationally renowned as the home of the Mayo Clinic, one of the world's premier medical centers, which drives the city's economy and attracts patients, medical professionals, and researchers from around the globe. The Mayo Clinic St. Mary’s Campus, a 1,265-bed hospital, is located 1.5 miles from the Asset.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $4,103,000 | Building Class | C |
| Price Per SF | $478.09 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 8,582 SF |
| Cap Rate | 7.75% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1990 |
| Property Subtype | Movie/Radio/TV Studio | Parking Ratio | 3.5/1,000 SF |
| Zoning | C - Commercial | ||
| Price | $4,103,000 |
| Price Per SF | $478.09 |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| Property Type | Specialty |
| Property Subtype | Movie/Radio/TV Studio |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 8,582 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| Parking Ratio | 3.5/1,000 SF |
| Zoning | C - Commercial |
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Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,085,900 | |
| Land Assessment | $210,400 | Total Assessment | $1,296,300 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$210,400
Improvements Assessment
$1,085,900
Total Assessment
$1,296,300
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1751 US-52 - Allen Media Broadcasting
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