

Listed by North Rock Real Estate
$2,650,000
835 38th Street Northwest
Details
Property Type Retail, Industrial
Sub Type Flex, Warehouse
Square Footage 19,207
Units 1
Cap Rate 6.45%
Occupancy 100%
Year Built 1994
Acreage 1.280
Investment Type Core
Ceiling Height 14'
Retail | 6.45% CAP | 19,207 SqFt
Marketing description
This offering presents a rare opportunity to acquire a stabilized industrial asset in Rochester—one of the Midwest’s fastest-growing markets, driven by continued expansion from Mayo Clinic and sustained population and employment growth. Industrial supply in Rochester remains tight, with limited available inventory and a highly constrained development pipeline due to land, zoning, and infrastructure challenges, creating strong long-term fundamentals. The property is occupied by Kleen-Tech Services, the original developer and long-term user of the building, demonstrating a deep operational commitment to the location. The tenant recently executed a lease extension providing approximately five years of remaining term, offering investors durable cash flow backed by an established occupant in a supply-constrained market.
Located at the NW corner of 37th Street NW and West River Parkway NW. This property enjoys easy access to HWY 52, HWY 63 and downtown Rochester (Mayo Clinic) all within minutes driving. Property is located adjacent to the City of Rochester's Development Services and Infrasture Center as well as the Rochester Police Department. Area retailers include, HyVee, Starbucks, Wells Fargo, Enterprise, Circle K and many local restaurants & service businesses.
Investment highlights
- 100% Leased to Kleen-Tech Services LLC, National Janitorial Service Provider
- 8,630 Square feet office/showroom and 10,577 square feet warehouse (14' clear)
- Limited Industrial Supply plus Constrained pipeline supports fundamentals
- Opportunity to acquire at pricing below the cost to develop comparable product today
- Functional design accommodates a wide range of industrial and service users
- In-place rents and pricing provide a compelling basis relative to market comparables
- Wood-frame construction with insulated metal panel exterior, concrete block foundation, and metal roof system
- New Parking Lot (2021), New Overhead door (2024), New Furnace (2022), New Loading Dock (2021)
Listing Contacts


Listed by North Rock Real Estate
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Zoning
MXG MixedMixed UseMixed Use General
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