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Residence at Discovery Square
Description
- 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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