Dark Advance Auto Parts | Rochester, MN

Need descriptionGreat Location & Property - This Advance Auto Parts has a great corner location along Broadway Avenue, a major north-south corridor in Rochester, and is located two blocks from the planned 60-acre Graham Park redevelopment project (pg 12). In addition to a great location, this property was built in 2005 and has great visibility, traffic counts, signage, and ample parking. The building also has a new roof membrane that was installed in 2019. Fantastic Market - Rochester is Minnesota's third largest city and is home to the world-renowned Mayo Clinic, which draws more than 2 million people from around the world annually. The population has continuously grown steadily and shows no signs of slowing down. The Mayo Clinic is by far the area's largest employer and fuels the local economy, which has an average household income of over $100,000. Great Redevelopment Site - The property sits on nearly an acre of prime real estate that could be redeveloped for a variety of different tenants. According to CoStar, there is very little under construction and the vacancy rate is 2.3%, which is lower than its trailing three-year average of 2.7% and is even lower at 1.8% in general retail buildings. Continued Rent Payments - Although Advance Auto Parts plans to vacate at the end of their term, they are still obligated to pay rent through March 2025.