Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1764 Broadway S Ave Rochester, MN 55904-7928

    • Retail space
    • 8,036 SF
    • 0.93 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2025
    $1,225,000
    Value Estimations
    $1,100,000
    Show details
    Cap Rate Potential
    8.6%
    Retail space
    Location Intelligence
    Property ID
    US46-1308697
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • UPS Access Point location / Shipping And Mailing Service / Mailing Service
    • Advance Auto Parts / Auto Parts Store / Car Accessories Store

    Property Details for 1764 Broadway S Ave

    Year built
    2005
    Lot size
    0.93 lot acres
    Property size
    8,036 SF
    Property type
    Retail space
    APN
    64.11.44.074751
    APU
    641144074751

    Description

    This 8,036 square foot retail building, formerly an Advance Auto Parts, is situated on a 0.93-acre lot at 1764 Broadway Ave S in Rochester, MN 55904. Built in 2005, the single-story building boasts excellent visibility and ample parking, situated on a major north-south corridor. The property benefits from a new roof membrane (installed 2019) and enjoys a high-traffic location, just two blocks from the planned 60-acre Graham Park redevelopment project. Currently vacant, the property offers a strong investment opportunity due to its location in Rochester, Minnesota's third-largest city, home to the Mayo Clinic. Rochester's robust economy, fueled by the Mayo Clinic, boasts an average household income exceeding $100,000 and a low vacancy rate (2.3% overall, 1.8% for general retail). While the previous tenant, Advance Auto Parts, will vacate March 31, 2025, rent payments are guaranteed until that date. The nearly one-acre lot presents significant redevelopment potential for various tenants, given the low construction activity and strong market demand. This property offers a unique blend of immediate income and long-term redevelopment possibilities in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,055,000
      ML approach
      $1,080,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,510,000
      6.5%
      $1,390,000
      7%
      $1,290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,281,000
      Market price range: $129k - $1.28M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4626
    Latitude
    43.9963
    CBSA code
    40340
    CBSA name
    ROCHESTER, MN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $62,932
    $564,800
    $1,040,600
    $1,605,400
    -
    $564,800
    $1,040,600
    $1,605,400

    Comparable in this City

    • Value Estimation
      $240,000
      6,288 SF

      324 Broadway S Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,288 SF
      324 Broadway S Ave, Rochester, MN 55904-6505
      View Details
    • Value Estimation
      $735,000
      32,272 SF

      Rochester, MN 55904

      RETAIL STORES (PERSONAL SERVICES) • 32,272 SF
      Rochester, MN 55904
      View Details
    • Value Estimation
      $630,000
      94,758 SF

      20 25th SE St

      RETAIL STORES (PERSONAL SERVICES) • 94,758 SF
      20 25th SE St, Rochester, MN 55904-5557
      View Details
    • Value Estimation
      $250,000
      411 SF

      306 12th SE St

      RETAIL STORES (PERSONAL SERVICES) • 411 SF
      306 12th SE St, Rochester, MN 55904-7466
      View Details
    • Value Estimation
      $385,000
      2,845 SF

      2245 3rd SE Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,845 SF
      2245 3rd SE Ave, Rochester, MN 55904-5535
      View Details
    • Value Estimation
      $255,000
      12.77 Acres

      3000 Broadway S Ave

      RETAIL STORES (PERSONAL SERVICES) • 12.77 Acres
      3000 Broadway S Ave, Rochester, MN 55904-5573
      View Details

    Similar Nearby for Sale

    • $1,400,000
      3,360 SF

      Rochester Retail Property on Hwy 14

      Retail property for sale with 3,360 square feet in Rochester.
      4210 Highway 14, Rochester, MN 55904
      View Details
    • $1,500,000
      5,190 SF

      Retail Building Near Crossroads Center

      Retail building with high visibility and traffic counts.
      1261 S Broadway, Rochester, MN 55904
      View Details
    • $649,900
      918 SF

      Freestanding Building with Large Parking

      918 SF building with 30+ parking spaces for sale.
      12 9Th St SE, Rochester, MN 55904
      View Details
    • $1,650,000
      4,800 SF

      Rochester Restaurant & Bar for Sale

      Turnkey operation in high-traffic area.
      4325 Maine Ave, Rochester, MN 55904
      View Details
    • Contact for pricing
      111,412 SF

      Crossroads Shopping Center Retail Space

      High-traffic retail space in prime Rochester location.
      1201 Broadway Ave, Rochester, MN 55904
      View Details
    • $6,395,000
      93,600 SF

      Rochester Multifamily Portfolio: 80 Units

      High-yield, 80-unit multifamily investment.
      1902 1/2 St, Rochester, MN 55904
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,658 SF

      Retail Space Near Highway 63

      Retail space with highway access and diverse business mix.
      4662 Maine Ave SE, Rochester, MN 55904
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space Near Sports Complex

      Retail space with high visibility near a regional sports complex.
      4601-4607 Maine Ave SE, Rochester, MN 55904
      View Details
    • $30 SF/Yr
      2,866 SF

      Retail Space Next to Dave's

      New construction retail space available for rent next to Dave's.
      1620 S Broadway, Rochester, MN 55904
      View Details
    • Contact for pricing
      1,611 SF

      Retail Spaces Near Sports Complex

      Two retail spaces available for lease near upcoming sports complex.
      4530-4550 Maine Ave SE, Rochester, MN 55904
      View Details
    • $22 SF/Yr
      6,692 SF

      Downtown Rochester Retail/Office Opportunity

      Creative office and retail space with unmatched street exposure.
      16 2Nd St SW, Rochester, MN 55904
      View Details
    • $12 SF/Yr
      2,470 SF

      Retail Spaces in Crossroads Center

      Three retail spaces for lease in established Rochester shopping center.
      1201 S Broadway, Rochester, MN 55904
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1764 Broadway S Ave
    Rochester, MN 55904-7928
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.