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Residence at Discovery Square

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  • Built in 2018, developed by Cornerstone Management Service, and designed by RSP Architects. Both developers and architects have extensive experience and outstanding portfolios
  • With over 95% occupied, the multi-family portion is steadily generating cashflow
  • 9 work/live townhome style units are planned to be built, providing potential for further revenue
  • 11,831 SF ground floor retail provides additional income and convenience for residents
  • Taxable Tax Increment Revenue Note provides $64K semiannual payment throughout Feb. 2047, adding additional Cash Flow for a future investor
  • Mayo Clinic, the top 1 hospital ranked by U.S. News and the largest local employer, is a brief 10-min walk in the north
  • The property is one block away from the 5 Million+ SF Soldiers Memorial Field Park, which features Golf course, Tennis court, Swimming Pool, and more
  • The asset is within close proximity to multiple shopping centers, including Crossroads Shopping Center (188,000 SF), Apache Mall (448,757 SF), and TJ Maxx Plaza (130,000 SF)
  • Nearby retail tenants include Hy-Vee, ALDI, Savers, Macy’s, H&M, rue 21, and more
  • The site is less than 1 mile north of U.S. Highway 14 and 52/63. Both are heavily traveled thoroughfares serving the city of Rochester, with combined 159,000 vehicles passing by daily
Address

511 3rd Avenue SW
Rochester, MN 55902
United States
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Price

$26,312,000.00

Contact

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