Mayowood Commons | New NNN Leases
793 16th Street SW Rochester, MN 55902
Price: $6,000,000
Status: Sold
Cap Rate: 5.40%
Year Built: 2018
NOI: $324,080
Lot Size: 2.07 acres
Price Per Foot: $560
Lease Type: NNN
Remaining Term: Various
GLA: 10710 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale to qualified investors, the opportunity to purchase the Mayowood Commons, a multi-tenant retail shopping center located in Rochester, MN (the “Property”). The subject property is located approximately 90 miles southeast of Minneapolis-Saint Paul.
Mayowood Commons is fully leased to an attractive mix of national and regional credit tenants including Buffalo Wild Wings, Associated Bank, and First Meeting Noodle. The current rent roll ideally provides for both staggered lease expirations and steady rent growth. Strategically located at the hard corner signalized intersection of 16th St SW & Mayowood Commons Dr, the center benefits from visibility to 31,000 cars per day. It is situated 1/2 mile from the on/off ramp to Hwy 52 (21,350 CPD), offering quick access to Downtown Rochester and north to Minneapolis-St Paul.