603 4th Street SE

Rochester, MN
$ 1,900,000 Beds 0 Baths 0 Sq 10,000
Monthly Estimate* How much can I afford?

This is an assembled 5 parcel estimated at slightly over 1 acre on the edge of downtown. All 5 properties must be sold together and intended for future development or can be held as rental property ($80,000 yr/gross) until ready for multi-use development. Plans for condo or apartment project are ready for discussion. 54 units with underground parking is the favored plan thus far. Other options abound. Contact Realtors for details. This is a great opportunity for redevelopment and perfect location. On Mayo park, famous for concerts by the river, only 3 blocks from skyway system connecting all of downtown and Mayo campus. Nearby to emerging University of Minnesota Rochester campus. Owner occupied condos would be ideal. Main level could house specialty grocery chain, café, coffee shop, even day care possibility. Post card views of downtown from any floor. River walk, bike trails, across the street. It is all here and open for redevelopment of this site.

Commercial

  • Price
  • $ 1,900,000
  • Lot Size
  • 7,405 SqFt
  • Bedrooms
  • 0
  • Sqr Footage
  • 10,000
  • Full Bathrooms
  • 0
  • Year Built
  • 1957
  • Half Bathrooms
  • 0
  • City, Zip
  • Rochester
  • Taxes
  • $ 15088
  • County
  • OLMSTED
  • Style
  • Apartment
  • Area
  • Morse & Sargeants Add
  • MLS#
  • 5737273
  • Zip
  • 55904
Listing Provided by: Edina Realty, Inc.
Data Source: Northstar MLS (NSTAR) - 133 - MN

Features

General

Accessibility Other
Additional Parcels Description 640122015046, 640122015050
Additional Parcels Y/N Yes
City Rochester
Construction Materials Stucco, Wood Siding
Contingency None
County Olmsted
Current Use Food Service, Residential, Commercial, Vacant
Days on Market 154
Directions Take S Broadway or 3rd Ave SE, to 4th St SE, (downtown), go east on 4th St until crossing Bear Creek Bridge to former Roscoes Ribs and Good Things!
Garage Spaces 6
Grossincome 80400
Heating Forced Air
High School District Rochester
Lender Owned No
Net Operating Income 52000
Operatingexpense 28400
Property SubType Apartment
Property Type Commercial Sale
Sewer City Sewer/Connected
Standard Status Active
Street Name 4th
Subdivision Name Morse & Sargeants Add
Tax Annual Amount 15088
Tax Year 2020
Total Units 9
Utilities Heating Separate
Year Built 1957
Zoning Description Residential-Single Family, Residential-Multi-Family

Interior Features

Fuel Natural Gas
Street Suffix Street
Unit Type Efficiencies, 1 Bedroom, 2 Bedroom, 3 Bedroom, 1 Room, 2 Room, 3 Room, 4 Room, 5 Room, 6 Room, 7 Room

Exterior Features

Foundationarea 10000
Inclusions Building, Land, Leases, Other
Lot Dimensions 164 x 269
Lot Size Area 0.17
Lot Size Units Acres
Parking Features Detached, Gravel, Asphalt, Shared Driveway, Paved
Water Source City Water/Connected
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Anoka, MN office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
Adjust Payment Options
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

4/8/2021 Listed $1,900,000

Property vs Zip Code Average in 55904

Price
AVG $710K
$1.9M
Taxes
AVG $19,876
$15,088
Visits
AVG 34
53
Year Built
AVG 1946
1957
Walkscore
AVG 45
73
Data Provided by Walkscore ® not using MLS data

Map

603 4th Street SE Rochester, MN is a Single Family Home for sale at $1900000 with 10000 sqft and a lot size of 7,405 SqFt Acre(s). 603 4th Street SE Rochester has 0 bedrooms, 0 baths and was built in 1957. The property's zip code is 55904 which is in Rochester, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 2.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.