3801-3809 Marketplace Dr NW | Rochester, MN 55901
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- LoopNet Team
3801-3809 Marketplace Dr NW
Rochester, MN 55901
Spectrum Strip | Top 4% Target Shadow Strip · Retail Property For Sale
Investment Highlights
- 100% Occupied, 8,780 SF Target-Shadowed 4-Tenant Retail Strip in Rochester, MN
- Spectrum, Leann Chin & Potbelly Each Have 8-10% Rent Increases in 2024, Increasing NOI by $26,347; Adds 51 bps to CAP Rate (7.01% CAP in 2024)
- 2024 Rent Increases Plus Self-Managing Property Adds 95 BPS to CAP Rate in Year 2 of Ownership; 7.45% CAP Potential
- Top Performing Target Shadow-Anchor: Top 4% Nationally (#68 of 1,807 Stores) and Top 12% in Minnesota (#6 of 68 Stores)
- Ease of Management with Only 4 Tenants – Self- Managing Property Could Add $22,412 Annually to Cash Flow (45 bps to CAP)
- All Tenants Leased to NNN Terms – 107% Recovery of Landlord Operating Costs via Full Tax/CAM/Ins/ Mgmt Reimbursement, plus 5-20% Admin Fees
Property Facts
Property Type
Retail
Property Subtype
Building Size
8,780 SF
Building Class
B
Year Built
2018
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.71 AC
Zoning
3A - Commercial
Parking
60 Spaces (6.83 Spaces per 1,000 SF Leased)
Frontage
300’ on Marketplace Drive
Amenities
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 74.21.11.084260 | Improvements Assessment | $3,214,700 |
| Land Assessment | $559,600 | Total Assessment | $3,774,300 |
Property Taxes
Parcel Number
74.21.11.084260
Land Assessment
$559,600
Improvements Assessment
$3,214,700
Total Assessment
$3,774,300
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