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50th Ave - Valleyhigh & 50th Avenue NW

4.48 - 15.45 Acre Residential Land Lots in Rochester, MN 55901

Investment Highlights

  • Zoned R-3 for maximum density multi-family, with adjacent mix of R-2 and For Sale Product
  • $5 billion expansion of Mayo Clinic underway less than 5 miles from site
  • Limited supply of utility connected and entitled land in market
  • Strong rental market and growth outlook
  • Directly adjacent to amenities and transportion

Executive Summary

Prairie Ridge is an 80 acre master development with a thoughtful mix of apartment/multifamily sites, a build-to-rent townhome site and for sale residential housing totaling ~1,000 residential units entitled and ready for development, located in the heart of Rochester's primary growth path. Zoned R-3 and with an approved EAW, Prairie Ridge presents a development ready opportunity for multiple multifamily projects across various asset classes. Mass grading is set to commence Fall 2024.

Attachments

Prairie Ridge Brochure

Property Facts

Sale Type Investment Property Subtype Residential
No. Lots 4 Total Lot Size 39.58 AC
Property Type Land Cross Streets Valleyhigh Drive NW
Sale Type Investment
No. Lots 4
Property Type Land
Property Subtype Residential
Total Lot Size 39.58 AC
Cross Streets Valleyhigh Drive NW

4 Lots Available

Lot

Lot Size 5.87 AC
Lot Size 5.87 AC

R-3 Apartment / Multi-family entitled land. Utilities connected.

Lot

Lot Size 4.48 AC
Lot Size 4.48 AC

R-3 Apartment / Multi-family entitled land. Utilities connected.

Lot

Lot Size 15.45 AC
Lot Size 15.45 AC

R-3 Apartment / Multi-family entitled land. Utilities connected.

Lot

Lot Size 13.78 AC
Lot Size 13.78 AC

Build to Rent Site. Zoned R-2. Programmed for 100 BTR units with clubhouse / amenity center.

Description

Rochester is an exceptionally stable market anchored by the #1 hospital in the world, the Mayo Clinic. Mayo employs over 42,000 at the Rochester Campus and brings in well over 1 million visitors annually. Mayo's steady & strong growth over the past several decades has made Rochester an institutional quality real estate investment marketplace. And the future is also bright, with Mayo recently commencing construction on a $5 Billion expansion to its Rochester campus known as Bold. Forward. Unbound!, a plan to build the hospital of the future. Prairie Ridge is a premier multi-family site in NW Rochester adjacent to W Circle Drive commercial corridor and minutes from the Mayo Clinic. The site is located along Valleyhigh Drive NW at 50th Avenue, between W Circle Drive and the new 60th Avenue which connects to HWY 14 W. Key area retailers and employers include, Costco, Mayo Clinic, HyVee, Cub Foods, Starbucks, McDonalds, Five West, Tap House, IBM, Western Digital, and multiple banks, daycares, service and convenience retailers.

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PROPERTY TAXES

Parcel Numbers
Multiple
  • 74.19.41.084952
  • 74.20.33.075985
 Improvements Assessment £0
Land Assessment £749,978 Total Assessment £749,978

PROPERTY TAXES

Parcel Numbers
Multiple
  • 74.19.41.084952
  • 74.20.33.075985
Land Assessment
£749,978
Improvements Assessment
£0
Total Assessment
£749,978

zoning

Zoning Code R-3 (Multi-Family Residential)
R-3 (Multi-Family Residential)
(952) 607-7886

  • Listing ID: 30416922

  • Date on Market: 21/12/2023

  • Last Updated:

  • Address: 50th Ave, Rochester, MN 55901

The Land Property at 50th Ave, Rochester, MN 55901 is currently available For Sale. Contact North Rock Real Estate, LLC for more information.

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© 2024 CoStar Group

50th Ave - Valleyhigh & 50th Avenue NW
(952) 607-7886 x

50th Ave - Valleyhigh & 50th Avenue NW

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Jeff Brown

(952) 607-7886

(952) 607-7886

Mike Zirbes

(952) 467-8601

(952) 467-8601

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