Marcus & Millichap Arranges $4.2M Sale Of Retail Strip Center In Rochester Minnesota
3801 Marketplace Drive Northwest
$4,200,000
$478/SF
Building Size
8,780 SF
Asset Type
Retail
Closing
Jul 19, 2024
About this deal
AI
A retail strip center located at 3801 Marketplace Drive Northwest in Rochester, MN has been sold for $4,200,000. The property spans 8,780 square feet and was traded at a price per square foot of $478. It is fully occupied by tenants including Spectrum, Potbelly Sandwich Shop, Leann Chin, and Infinity Nails.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,200,000
- Square Footage: 8,780
- Price per Square Foot: $478
- Address: 3801 Marketplace Drive Northwest
- Market: Rochester, MN
Marcus & Millichap facilitated the transaction, with brokers Jared Shapiro, Craig Fuller, Erin Patton, and Scott Wiles representing both the undisclosed buyer and seller in the deal.
On the Map
$4,200,000
$478/SF
Retail
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Players
Rochester Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93