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Silver Lake Crossing 28 7th St NE 112 Unit Apartment Building $26,500,000 ($236,607/Unit) Rochester, MN 55906
INVESTMENT HIGHLIGHTS
- New construction & new-to-market
- Highly amenitized
- Desirable location - high walkability and bikeability score, easy access to retail and local employers
- Strong lease-up success thus far
EXECUTIVE SUMMARY
Silver Lake Crossing presents a rare opportunity to acquire new-construction multifamily housing in Rochester, MN—just 1.5 miles from the globally renowned Mayo Clinic. This 112-unit, market-rate community is ideally positioned along Silver Lake with exceptional walk and bike scores (82 and 86), offering residents direct access to trails, parks, and downtown amenities. Currently in lease-up, the property is poised to benefit from strong tenant demand driven by Rochester’s expanding healthcare and innovation economy.
Mayo Clinic’s $5 billion Bold. Forward. Unbound. initiative is transforming its downtown campus and reaffirming its long-term commitment to Rochester as a global destination for health and research. As one of the few new multifamily assets to come to market in this high-barrier-to-entry city, Silver Lake Crossing offers investors immediate scale, long-term growth potential, and a front-row seat to Rochester’s next chapter.
Mayo Clinic’s $5 billion Bold. Forward. Unbound. initiative is transforming its downtown campus and reaffirming its long-term commitment to Rochester as a global destination for health and research. As one of the few new multifamily assets to come to market in this high-barrier-to-entry city, Silver Lake Crossing offers investors immediate scale, long-term growth potential, and a front-row seat to Rochester’s next chapter.
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PROPERTY FACTS
| Price | $26,500,000 | Building Class | B |
| Price Per Unit | $236,607 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 112,000 SF |
| No. Units | 112 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $26,500,000 |
| Price Per Unit | $236,607 |
| Sale Type | Investment |
| No. Units | 112 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.05 AC |
| Building Size | 112,000 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Parking Ratio | 0.57/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Oven
- Stainless Steel Appliances
- Range
- Window Coverings
- Quartz Countertops
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Fitness Center
- Property Manager on Site
- Breakfast/Coffee Concierge
- Car Wash Area
- Disposal Chutes
- Gameroom
- Grill
- Wheelchair Accessible
- Media Center/Movie Theatre
- Pet Play Area
- Walking/Biking Trails
- Storage Space
- Car Charging Station
- Community-Wide WiFi
- Elevator
- Maintenance on site
- Private Bathroom
- Key Fob Entry
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 45 | $1,345 | 498 |
| 1+1 | 31 | $1,678 | 656 - 724 |
| 2+2 | 36 | $2,325 | 987 - 1,080 |
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Walk Score®
Very Walkable (82)
Bike Score®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 74.35.14.087645 | Improvements Assessment | $1,276,400 |
| Land Assessment | $274,300 | Total Assessment | $1,550,700 |
PROPERTY TAXES
Parcel Number
74.35.14.087645
Land Assessment
$274,300
Improvements Assessment
$1,276,400
Total Assessment
$1,550,700
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Silver Lake Crossing | 28 7th St NE
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