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2013 3rd St SW 0.46 Acres of Commercial Land Offered at $1,300,000 in Rochester, MN 55902
Investment Highlights
- Preliminary Approved for 52-unit multifamily development
- Suited for apartment development
- 8 Blocks from Mayo Clinic's Saint Mary's Campus
- Zoned MXT-COR
- Strong long-term income potential
- 1 Block from the future link transit station
Executive Summary
This .46 acre multifamily development site is preliminary approved for 52 units studio and one-bedroom apartments. The site size and unit count support an efficient apartment project without overcomplicating design or execution. The preliminary approved building plans were designed within the MX-T Corridor zoning standards allowing for a favorable Type "S*" approval under the City of Rochester's Unified Development Code (UDC). This offering is well suited for investors seeking a clear, build-ready opportunity with long-term income potential.
Rochester is a steady, growing city with reliable demand for rental housing. The location at 2015 3rd Street SW sits directly along the new Link Rapid Transit line, offering simple and convenient access through key parts of the city. The corridor connects to Downtown Rochester and major employment centers, supporting daily commuting and long-term housing demand. Ongoing public investment in transportation and infrastructure continues to strengthen this part of the city. Combined with Rochester’s strong employment base and focus on practical growth, this location offers clear support for future multifamily development.
Rochester is a steady, growing city with reliable demand for rental housing. The location at 2015 3rd Street SW sits directly along the new Link Rapid Transit line, offering simple and convenient access through key parts of the city. The corridor connects to Downtown Rochester and major employment centers, supporting daily commuting and long-term housing demand. Ongoing public investment in transportation and infrastructure continues to strengthen this part of the city. Combined with Rochester’s strong employment base and focus on practical growth, this location offers clear support for future multifamily development.
Property Facts
| Price | $1,300,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 0.46 AC |
| Price | $1,300,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 0.46 AC |
1 Lot Available
Lot
| Price | $1,300,000 | Lot Size | 0.46 AC |
| Price Per AC | $2,826,086.96 |
| Price | $1,300,000 |
| Price Per AC | $2,826,086.96 |
| Lot Size | 0.46 AC |
This .46 acre multifamily development site is preliminary approved for 52 units studio and one-bedroom apartments. The site size and unit count support an efficient apartment project without overcomplicating design or execution.
Moderately walkable
70/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 64.03.22.078650 | Improvements Assessment | $62,300 |
| Land Assessment | $35,000 | Total Assessment | $97,300 |
Property Taxes
Parcel Number
64.03.22.078650
Land Assessment
$35,000
Improvements Assessment
$62,300
Total Assessment
$97,300
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2013 3rd St SW
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