835 38th St NW - Retail FOR SALE


Rochester, MN 55901- North Rochester
$2,650,000 USD
952-607-7886
835 38th St NW, Rochester, MN for Sale
$2,650,000 USD
Retail - FOR SALE
1/10
null | Request Cap Rate

835 38th St NW
Rochester, MN 55901
North Rochester


HIGHLIGHTS

  • 100% Leased to Kleen-Tech Services LLC, National Janitorial Service Provider
  • Current Tenant is successor to original building occupant since 1994
  • Limited Industrial Supply plus Constrained pipeline supports fundamentals
  • Opportunity to acquire at pricing below the cost to develop comparable product today
  • Functional, generic design accommodates a wide range of industrial and service users
  • In-place rents and pricing provide a compelling basis relative to market comparables

OVERVIEW

This offering presents a rare opportunity to acquire a stabilized industrial asset in Rochester—one of the Midwest’s fastest-growing markets, driven by continued expansion from Mayo Clinic and sustained population and employment growth. Industrial supply in Rochester remains tight, with limited available inventory and a highly constrained development pipeline due to land, zoning, and infrastructure challenges, creating strong long-term fundamentals. The property is occupied by Kleen-Tech Services, the original developer and long-term user of the building, demonstrating a deep operational commitment to the location. The tenant recently executed a lease extension providing approximately five years of remaining term, offering investors durable cash flow backed by an established occupant in a supply-constrained market. Located at the NW corner of 37th Street NW and West River Parkway NW. This property enjoys easy access to HWY 52, HWY 63 and downtown Rochester (Mayo Clinic) all within minutes driving. Property is located adjacent to the City of Rochester's Development Services and Infrasture Center as well as the Rochester Police Department. Area retailers include, HyVee, Starbucks, Wells Fargo, Enterprise, Circle K and many local restaurants & service businesses.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$138 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

MX-G

APN/PARCEL ID

74.23.22.075674

ASK ABOUT THIS PROPERTY

Jeff BrownNorth Rock Real Estate, LLCMore Info
952-607-7886

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Jeff BrownNorth Rock Real Estate, LLCMore Info
952-607-7886

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.