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    Property profile & analytics

    Red Wing, MN 55066

    • Parking lots & garages
    • 85,475 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1750193
    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

    • Parking lots & garages

    Property Details

    Year built
    1986
    Property size
    85,475 SF
    Property type
    Parking lots & garages
    APN
    55.005.2810
    APU
    550052810

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Red Wing
    County
    Goodhue
    State
    Minnesota
    Longitude
    -92.5343
    Latitude
    44.5639
    CBSA code
    39860
    CBSA name
    RED WING, MN MICROPOLITAN 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
    $0.00
    $674,800
    $1,686,800
    $2,361,600
    -
    $674,800
    $1,686,800
    $2,361,600

    Comparable in this City

    • Value Estimation by Request
      13,653 SF

      4880 Moundview Dr

      VEHICLE SALES, RENTALS • 13,653 SF
      4880 Moundview Dr, Red Wing, MN 55066-1105
      View Details
    • Value Estimation
      $345,000
      6,240 SF

      1416 Old W Main St

      SERVICE STATION (FULL SERVICE) • 6,240 SF
      1416 Old W Main St, Red Wing, MN 55066-2161
      View Details
    • Value Estimation
      $410,000
      5,000 SF

      1708 3rd St

      SERVICE STATION (FULL SERVICE) • 5,000 SF
      1708 3rd St, Red Wing, MN 55066-2059
      View Details
    • Value Estimation
      $295,000
      3,456 SF

      1004 Main St

      VEHICLE SALES, RENTALS • 3,456 SF
      1004 Main St, Red Wing, MN 55066-2233
      View Details
    • Value Estimation
      $310,000
      5,196 SF

      4902 Moundview Dr

      SERVICE STATION (FULL SERVICE) • 5,196 SF
      4902 Moundview Dr, Red Wing, MN 55066-1100
      View Details
    • Value Estimation
      $275,000
      1,862 SF

      609 Plum St

      CAR WASH - AUTOMATED • 1,862 SF
      609 Plum St, Red Wing, MN 55066-2621
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Big O Tires - Red Wing, MN

      7,300 SF Auto Shop - Sale or Lease
      828 Main St, Red Wing, MN 55066
      View Details
    • $950,000
      0.76 Acres

      Red Wing Commercial Opportunity

      Versatile commercial building with high visibility and ample parking.
      4902 Moundview Dr, Red Wing, MN 55066
      View Details
    • $710,000
      0.72 Acres

      Red Wing Commercial Opportunity

      Family-owned business and property for sale in Red Wing, MN.
      2335 Old West Main St, Red Wing, MN 55066
      View Details
    • $499,000
      4,075 SF

      Red Wing Retail/Office Building

      Charming commercial building in Red Wing, ideal for retail/office.
      320 W 3Rd St, Red Wing, MN 55066
      View Details
    • $650,000
      Pending

      Highway Frontage Retail Building

      Retail building with highway frontage, showroom, and office space.
      1112 Main St, Red Wing, MN 55066
      View Details
    • $100,000
      2.00 Acres

      Two Acre Residential Building Site

      Two acre lot with wooded backyard and valley views.
      27055 River View Ct, Red Wing, MN 55066
      View Details

    Similar Nearby for Lease

    • $950,000
      3,000 SF

      Equipped Suite in Historic Red Wing

      3,000 sq ft suite equipped for salon, spa, wellness.
      210-214 Bush St, Red Wing, MN 55066
      View Details
    • Contact for pricing
      26,640 SF

      Prime Red Wing Executive Office Space

      Historic building, flexible suites, downtown location.
      222 Bush St, Red Wing, MN 55066
      View Details
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    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.

    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
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