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615 3rd SW ave
Rochester, MN 55902
Multifamily Development Opportunity · Land For Sale
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0.15 AC
Investment Highlights
- Located steps from Soldiers Field and minutes to Downtown Rochester and Mayo Clinic
- Utilities available and site ready for immediate build
- Minutes from Downtown Rochester and Mayo Clinic
- Approved plans for two six-plex apartment buildings for streamlined development
Executive Summary
This $400,000 development parcel offers a rare opportunity for investors and developers to capitalize on Rochester’s sustained growth and strong multifamily housing demand. The site’s R-4 zoning and approved plan for two six-plexes reduce entitlement risk and allow for a quicker start to construction. Its central position near Mayo Clinic and major employment centers ensures long-term viability for rental projects, with proximity to recreational spaces and urban amenities enhancing tenant appeal.
Property Facts
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Proposed Use | Apartment Units |
| Property Type | Land | Total Lot Size | 0.15 AC |
| Zoning | R-4 - Multifamily | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.15 AC |
| Zoning | R-4 - Multifamily |
1 Lot Available
Lot
| Price | $400,000 | Lot Size | 0.15 AC |
| Price Per AC | $2,640,002.64 |
| Price | $400,000 |
| Price Per AC | $2,640,002.64 |
| Lot Size | 0.15 AC |
615 3rd Avenue SW in Rochester presents a 6,600 SF infill development site zoned R-4 for multifamily uses. This property is pre-approved for two six-plex apartment buildings, providing an immediate path to development.
Description
The lot sits in a strategic infill area surrounded by established residential neighborhoods and city amenities. With immediate connectivity to Soldiers Field and easy access to dining, retail, and healthcare institutions in Downtown Rochester, the location is ideal for multifamily development. The setting supports walkability and convenience, key drivers for today’s renters.
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