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Northeast Rochester bank building sold for $2 million

Minneapolis-based Dachis Three LLC purchased the building at 3376 Northern Valley Place NE, which houses US Bank as a tenant, for $2.05 million. GAC USB Development I LLC, which is part of Andy Chafoulias’ Titan Developments and Investments, sold the property.

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Interest in a Med City bank building recently resulted in a more than $2 million deal.

Minneapolis-based Dachis Three LLC purchased the building at 3376 Northern Valley Place NE, which houses US Bank as a tenant, for $2.05 million. Dachis paid the entire price at the closing.

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GAC USB Development I LLC, which is part of Andy Chafoulias ’ Titan Developments and Investments , sold the property. Mark Steege of Titan360 represented GAC USB in the deal.

The 4,000-square-foot complex was built by GAC USB in 1998. US Bank is a credit tenant with annual rent increases including two five-year options, according to the listing of the property.

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Olmsted County estimated the total market value of the property at $843,300 with the 1.46 acres of land valued at $349,300 and building at $494,000.

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