Your email has been sent.
Mayo Clinic-Anchored Office Center 21 1st Ave SW 107,124 SF 90% Leased 4-Star Office Building Rochester, MN 55902 $24,550,000 ($229.17/SF)



Investment Highlights
- The ±101,389 SF property is 89% leased with primarily NNN lease structures and contractual annual rent escalations, generating $1.85M in NOI
- Post-acquisition, ownership has injected over $9MM of capital into the asset. This includes a $6.5MM comprehensive building renovation in 2020
- Situated one block from the world-renowned 754-bed Mayo Clinic Methodist Hospital in downtown Rochester, Minnesota, and overlooking Peace Plaza
- Approximately 11% vacancy offers incremental NOI growth through lease-up, without the execution risk typically associated with traditional value-add
- Mayo Clinic (Moody’s: Aa2) occupies roughly 47% of the rentable square footage and Wells Fargo (S&P: A+) occupies approximately 22% of the NRSF
- The property benefits from direct access to Rochester’s pedestrian skyway and subway system, enhancing year-round connectivity to Mayo Clinic
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
Amenities
- Banking
- Energy Star Labeled
- Natural Light
- Partitioned Offices
Sustainability
Sustainability
LEED Certification Developed by the U.S. Green Building Council (USGBC), the Leadership in Energy and Environmental Design (LEED) is a green building certification program focused on the design, construction, operation, and maintenance of green buildings, homes, and neighborhoods, which aims to help building owners and operators be environmentally responsible and use resources efficiently. LEED certification is a globally recognized symbol of sustainability achievement and leadership. To achieve LEED certification, a project earns points by adhering to prerequisites and credits that address carbon, energy, water, waste, transportation, materials, health and indoor environmental quality. Projects go through a verification and review process and are awarded points that correspond to a level of LEED certification: Platinum (80+ points) Gold (60-79 points) Silver (50-59 points) Certified (40-49 points)
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Subway connected office/tech/storage space.
Renovated 2nd floor relet office space, divisible down to 2,000 SF.
New 1st floor retail space.
Skyway connected, with skyway signage opportunities.
| Space | Size | Space Use | Build-Out | Available |
| Subway-Ste B002 | 5,198 SF | Office | Full Build-Out | Now |
| 2nd Floor | 1,397 SF | Office | Shell Space | Now |
| 2nd Fl-Ste 202A | 3,233 SF | Retail | Shell Space | Now |
| 2nd Fl-Ste 202A | 1,022 SF | Office | Shell Space | Now |
Subway-Ste B002
| Size |
| 5,198 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
2nd Floor
| Size |
| 1,397 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
2nd Fl-Ste 202A
| Size |
| 3,233 SF |
| Space Use |
| Retail |
| Build-Out |
| Shell Space |
| Available |
| Now |
2nd Fl-Ste 202A
| Size |
| 1,022 SF |
| Space Use |
| Office |
| Build-Out |
| Shell Space |
| Available |
| Now |
Subway-Ste B002
| Size | 5,198 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Subway connected office/tech/storage space.
2nd Floor
| Size | 1,397 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
Renovated 2nd floor relet office space, divisible down to 2,000 SF.
2nd Fl-Ste 202A
| Size | 3,233 SF |
| Space Use | Retail |
| Build-Out | Shell Space |
| Available | Now |
New 1st floor retail space.
2nd Fl-Ste 202A
| Size | 1,022 SF |
| Space Use | Office |
| Build-Out | Shell Space |
| Available | Now |
Skyway connected, with skyway signage opportunities.
Property Taxes
| Parcel Number | 74.35.43.017926 | Improvements Assessment | $19,448,700 |
| Land Assessment | $1,800,600 | Total Assessment | $21,249,300 |
Property Taxes
Presented by
Mayo Clinic-Anchored Office Center | 21 1st Ave SW
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.










