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Rochester, MN 55904

New Listing

$12.21

Property Type: Commercial Lot Size (sq. ft.): 1,307 Status: Active

Current Price: $12.21 List Date: 6/23/2026 Last Modified: 6/23/2026

Overview

Description

Rare opportunity to sublease one of downtown Rochester's most celebrated restaurant spaces in the historic Kelley Building. Constructed in 1857 by the city's first physician, 332 South Broadway is Rochester's oldest brick building, offering an atmosphere that simply cannot be replicated. This turnkey build-out occupies the main floor and basement, featuring exposed brick, custom woodwork, floating shelves, and new flooring throughout. The space is heavily infrastructured for a serious restaurateur to open quickly, boasting a brand-new full bar, commercial hood and ventilation, basement walk-in coolers, a dishwashing pit, two bathrooms, and updated IT. Located just steps from the Mayo Clinic campus, this vibrant corner benefits from massive daily pedestrian traffic. **The current sublease term runs through May 2028, with extended terms open for discussion. An equipment list is available upon request.**

Listing Details MLS# 7097735

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Waterfront YN: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 1564
For Sale or Lease: For Lease
Acres: 0.03
Lot Dimensions: 76x23x70x21
Assessment Pending: Unknown
Other Parking Spaces: 0
Garage Stalls: 0

Property Features

Accessible: Partially Wheelchair CMU Style: Apartments and Retail; Attached Building Construction Status: Previously Owned Current Use: Restaurant Exterior: Brick/Stone Foundation: Stone Fuel: Natural Gas Heating: Forced Air Lease Details: Triple Net Location Description: Downtown Miscellaneous Information: Building Sign; Display Window; Kitchen Facilities On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Original List Price: 12.21
Contingency: None
ListPrice: 12.21
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

Postal City: Rochester
County: Olmsted
State: MN
Zip Code: 55904
Complex/Dev/Subdivision: Moe & Olds Mill Reservation Pt Of Moe

Assessments

Tax With Assessments: 16664
Assessment Balance: 0

Building Information

Building Finished SqFt: 3128
Ceiling Height: 11-15

More Information

Lease Details

Land Leased: Not Applicable
Lease Amount Type: Square Foot
Triple Net: Yes

Miscellaneous Information

Homestead: No
Building Sign: Yes
Display Window: Yes
Kitchen Facilities: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 14
Section#: 2
Township#: 106

Sale Options

Sale Includes: Other

Unit Details

Total Units: 2

Office/Member Info

Association: SEMR

Location, Tax and Other Information

Legal Description: SECT-02 TWP-106 RANGE-014 MOE AND OLDS MILL RESERVATION BLOCK-082 COM AT SWCOR MILL RESERVATION RUN N22FT E 76.37FT TH S TO A PT ON N LINE OF COLLEGE ST 70FT E FROM SWCOR TH W TO BEG BLK 82
Listing City: Rochester
Map Page: 999
Municipality: Rochester
School District: Rochester
School District Phone: 507-328-3000
Property ID Number: 640211014431
Tax Year: 2025
Tax Amount: 16664
In Foreclosure?: No
Potential Short Sale?: Not disclosed
Lender Owned?: Not disclosed

Directions & Remarks

Public Remarks: Rare opportunity to sublease one of downtown Rochester's most celebrated restaurant spaces in the historic Kelley Building. Constructed in 1857 by the city's first physician, 332 South Broadway is Rochester's oldest brick building, offering an atmosphere that simply cannot be replicated. This turnkey build-out occupies the main floor and basement, featuring exposed brick, custom woodwork, floating shelves, and new flooring throughout. The space is heavily infrastructured for a serious restaurateur to open quickly, boasting a brand-new full bar, commercial hood and ventilation, basement walk-in coolers, a dishwashing pit, two bathrooms, and updated IT. Located just steps from the Mayo Clinic campus, this vibrant corner benefits from massive daily pedestrian traffic. **The current sublease term runs through May 2028, with extended terms open for discussion. An equipment list is available upon request.**
Directions: Heading North on US-63 (Broadway Ave) toward downtown Rochester, continue past Soldiers Field Memorial Park. The property will be on your left (West side) at the intersection of South Broadway and 4th Street SW.

Accessible

Partially Wheelchair: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Foundation

Stone: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Sewer

City Sewer/Connected: 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

Restaurant: Yes

Location Description

Downtown: Yes

Listing Office: Realty Growth Inc.

Last Updated: June - 23 - 2026

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