319 - 325 Broadway Avenue S, Rochester, MN 55902

$3,800,000
Property Type: Commercial Lot Size (sq. ft.): 18,295 Status: Active
Current Price: $3,800,000 List Date: 7/24/2025 Last Modified: 1/27/2026

Overview

Description

Positioned on one of Downtown Rochester’s premier intersections—Broadway & 4th Street South—this property presents a compelling opportunity for investors seeking either steady in-place cash flow or a high-potential redevelopment opportunity. Ideally situated just 0.3 miles from the heart of the Mayo Clinic campus and 0.2 miles from the rapidly expanding University of Minnesota Rochester, the property benefits from proximity to two of the city's most influential institutions. Located in Rochester’s highly walkable Historic District and zoned MXD-BUS—Rochester’s most intensive development classification—this site is uniquely positioned to meet the city’s growing demand for housing, retail, and mixed-use spaces. While parceling the property is possible, the combined footprint represents a rare chance to reimagine a significant section of downtown. No other available site matches its scale, zoning, and proximity to Rochester’s key economic drivers. Property Highlights -Significant Redevelopment Opportunity -Current Cash Flow -On-Site Parking -Newly Renovated Spaces -Central Downtown Location -Retail & Multi-Family Potential - 0.2 Miles to UMR Campus - 0.3 Miles to Mayo Clinic

Listing Details MLS# 6757540

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Other Parking Spaces
20
Waterfront Present
No
Year Built
1885
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
12880
For Sale or Lease
For Sale
Acres
0.42
Lot Dimensions
140x130
Assessment Pending
Unknown
Garage Stalls
0

Property Features

Accessible: Partially Wheelchair CMU Style: Apartments and Retail; Attached Building Construction Status: Previously Owned Current Use: Commercial; Office; Residential; Retail Exterior: Brick Veneer Foundation: Permanent; Stone Fuel: Natural Gas Heating: Forced Air Location Description: Downtown Lot Description: Corner Lot; Public Transit (w/in 6 blks) Miscellaneous Information: Building Sign; Display Window; Pole Sign On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Parking Characteristics: Parking Lot Potential Use: Income; Lounge/Bar; Motel/Hotel; Office; Professional; Restaurant; Retail Road Frontage: City Street; Curbs; Paved Streets; Sidewalks; Storm Sewer; Street Lights Road Responsibility: Public Maintained Road Roof: Flat Sewer: City Sewer/Connected Stories: Three Or More Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
3800000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
319 - 325
Street Name
Broadway
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Rochester
County
Olmsted
State
MN
Zip Code
55902
Complex/Dev/Subdivision
Moe & Olds Add-Pt Torrens

Additional Parcels Information

Property ID #2
640211014307
Property ID #3
640211014306,640211014305

Assessments

Tax With Assessments
85821.12
Assessment Balance
0

More Information

Basement

Foundation Dimensions
140x92

Building Information

Building Finished SqFt
29108
Ceiling Height
11-15

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No
Building Sign
Yes
Display Window
Yes
Pole Sign
Yes

Ownership

Fractional Ownership
No

Public Survey Info

Range#
14
Section#
2
Township#
106

Sale Options

Sale Includes
Building

Unit Details

Total Units
4

Office/Member Info

Association
SEMR

Location, Tax and Other Information

Legal Description
SECT-02 TWP-106 RANGE-014 MOE AND OLDS ADD-PT TORRENS LOT-001 BLOCK-010 LOT 1 BLK 10
Listing City
Rochester
Map Page
999
Municipality
Rochester
School District
Rochester
School District Phone
507-328-3000
Zip Plus 4
3340
Property ID Number
640211014304
Tax Year
2024
Tax Amount
83779.34
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
Not disclosed

Directions & Remarks

Public Remarks
Positioned on one of Downtown Rochester’s premier intersections—Broadway & 4th Street South—this property presents a compelling opportunity for investors seeking either steady in-place cash flow or a high-potential redevelopment opportunity. Ideally situated just 0.3 miles from the heart of the Mayo Clinic campus and 0.2 miles from the rapidly expanding University of Minnesota Rochester, the property benefits from proximity to two of the city's most influential institutions. Located in Rochester’s highly walkable Historic District and zoned MXD-BUS—Rochester’s most intensive development classification—this site is uniquely positioned to meet the city’s growing demand for housing, retail, and mixed-use spaces. While parceling the property is possible, the combined footprint represents a rare chance to reimagine a significant section of downtown. No other available site matches its scale, zoning, and proximity to Rochester’s key economic drivers. Property Highlights -Significant Redevelopment Opportunity -Current Cash Flow -On-Site Parking -Newly Renovated Spaces -Central Downtown Location -Retail & Multi-Family Potential - 0.2 Miles to UMR Campus - 0.3 Miles to Mayo Clinic
Directions
Located on the corner of S Broadway Ave and 4th St SE

Accessible

Partially Wheelchair
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick Veneer
Yes

Foundation

Permanent
Yes
Stone
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Lot Description

Corner Lot
Yes
Public Transit (w/in 6 blks)
Yes

Parking Characteristics

Parking Lot
Yes

Road Frontage

City Street
Yes
Curbs
Yes
Paved Streets
Yes
Sidewalks
Yes
Storm Sewer
Yes
Street Lights
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Flat
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Separate
Yes
Heating Separate
Yes
Hot Water Separate
Yes

CMU Style

Apartments and Retail
Yes
Attached Building
Yes

Current Use

Commercial
Yes
Office
Yes
Residential
Yes
Retail
Yes

Location Description

Downtown
Yes

Potential Use

Income
Yes
Lounge/Bar
Yes
Motel/Hotel
Yes
Office
Yes
Professional
Yes
Restaurant
Yes
Retail
Yes
Listing Office: Realty Growth Inc.
IDX
Last Updated: January - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.