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Property profile & analytics
OFF-MARKET
Estimated value
$9,755,000
Strip malls
3780 Marketplace NW Dr, Rochester, MN 55901-3226
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US46-1407927
Property summary
AI-generated overview
Exceptional investment opportunity: Rochester Crossing, a 21,503 square foot, Class B shopping center located at 3780 Marketplace Dr NW, Rochester, MN 55901. This single-story, 10-unit center is 100% occupied with a diverse mix of national tenants, including Panera Bread, and benefits from a strong corporate guarantee and credit-rated franchisees. The property features a 4.6-year remaining lease term with rent bumps, a current NOI of $622,152, and a pro-forma NOI of $675,568, resulting in a 6.00% cap rate and a pro-forma cap rate of 6.51%. The asking price is $10,370,000. Built in 2003 on a 2.73-acre lot, the center offers 175 parking spaces and enjoys excellent visibility and traffic counts, shadow-anchored by Target and Home Depot. The property is zoned MX-G and boasts a Net Lease (NNN) investment type. The high-traffic location, strong tenant mix, and favorable lease terms make this a compelling investment opportunity. Occupancy date is November 1, 2024. The property features a total of 22,362 square feet. APN: 74.21.11.060104.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2003
Total area
22,362 SF
Lot
2.73 ac (118,875 SF)
APN
74.21.11.060104
UPID
US46-1407927
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Chipotle Mexican Grill Take-out & Catering Catering Service
-
Panera Bread Take-out & Catering Catering Service
-
Yoonjin Yi, DDS Dental Office
-
Park Dental Rochester Dental Office
-
Verizon Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.77M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.76M
Owner & transaction history
Mjb Petrol LLC · 5 yrs held
Mjb Petrol LLC
since 2020
Last sale
$9.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rochester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rochester submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,245,000
ML approach
$9,765,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.76M
Range $8.78M – $10.73M · ±10% · vs last sale $9.50M (Jul 29 2020)
Last sale anchor
$9.50M
Jul 29 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$436 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$213,218
Tax year 2023
Assessed value
$5,414,700
Assessed 2021
Previous assessed
$5,414,700
+0.0% YoY
Effective rate
3.94%
On assessed value
Assessed land
$1,426,700
Assessed improvement
$3,988,000
Land market value
$1,426,700
Improvement market value
$3,988,000
Total market value
$5,414,700
Applied tax rate
2,303.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2003
Heating
NONE
Bathrooms
20
Total area
22,362 SF
Lot
2.73 ac (118,875 SF)
APN
74.21.11.060104
UPID
US46-1407927
Jurisdiction
OLMSTED
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Bathrooms
20
Lot
2.73 ac
Current owner
From public records · entity-resolved
Mjb Petrol LLC
Entity
Mailing address
PO BOX 492, ROCHESTER, MN 55903-0492
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2025
—
Mjb Petrol LLC
—
Deed
related
$6,200,000 · Sunrise Banks NA
Jul 29, 2020
$9,500,000
Mjb Petrol LLC
Moose Enterprises LLC
Warranty Deed
$7,125,000 · Home Federal Savings Bank
Jul 24, 2020
$7,500,000
Moose Enterprises LLC
Woodbury Hotel LLC
Warranty Deed
—
Aug 12, 2014
—
Woodbury Hotel LLC
John B Pfaff
Deed
—
Jan 19, 2005
$6,975,000
John B Pfaff
Rochester Crossing LLC
Warranty Deed
$2,300,000 · American Investors Life Insurance C
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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