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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    114 2nd St Chaska, MN 55318-2628

    • Medical offices
    • 1,875 SF
    • 0.12 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    10%
    Medical offices
    Location Intelligence
    Property ID
    US46-3157295
    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

    • Sudduth David L MD / Psychiatrist
    • David Lloyd Gallery / Artist

    Property Details for 114 2nd St

    Year built
    1900
    Lot size
    0.12 lot acres
    Property size
    1,875 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    30-0503021
    APU
    300503021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $172,000
      Market price range: $67.5k - $309k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $175,000
      Current use
      OFFICE BUILDING
      $265,000
      Change: +49% Conversion: Easy
      COMMERCIAL (GENERAL)
      $215,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $170,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chaska
    County
    Carver
    State
    Minnesota
    Longitude
    -93.6012
    Latitude
    44.7854
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 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
    2024
    $7,100
    $51,800
    $350,900
    $402,700
    -
    $51,800
    $350,900
    $402,700

    Comparable in this City

    • Value Estimation
      $1,210,000
      44,611 SF

      111 Hundertmark Rd

      MEDICAL BUILDING • 44,611 SF
      111 Hundertmark Rd, Chaska, MN 55318-4551
      View Details
    • Value Estimation
      $250,000
      8,351 SF

      9120 Shady Oak Dr

      MEDICAL BUILDING • 8,351 SF
      9120 Shady Oak Dr, Chaska, MN 55318-9201
      View Details
    • Value Estimation
      $360,000
      2,187 SF

      314 Walnut St

      MEDICAL BUILDING • 2,187 SF
      314 Walnut St, Chaska, MN 55318-2046
      View Details
    • Value Estimation
      $215,000
      2,652 SF

      1059 Stoughton Ave

      MEDICAL BUILDING • 2,652 SF
      1059 Stoughton Ave, Chaska, MN 55318-2149
      View Details
    • Value Estimation
      $540,000
      13,809 SF

      110105 Pioneer W Trl

      MEDICAL BUILDING • 13,809 SF
      110105 Pioneer W Trl, Chaska, MN 55318-2680
      View Details
    • Value Estimation
      $415,000
      1,650 SF

      1055 Stoughton Ave

      MEDICAL BUILDING • 1,650 SF
      1055 Stoughton Ave, Chaska, MN 55318-2149
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,020 SF

      Chaska Office Space - 9,020 SF

      Prime Chaska office space, ideal location, ample parking.
      112 5Th St, Chaska, MN 55318
      View Details
    • $3,200,000
      46,072 SF

      Chaska Warehouse with Office Space

      46,072 SF building with warehouse and office space.
      1550 Audubon Rd, Chaska, MN 55318
      View Details
    • Contact for pricing
      0.17 Acres

      Chaska Office Space For Sale

      Office space in Chaska, walking distance to city amenities.
      112 E 5Th St, Chaska, MN 55318
      View Details
    • Contact for pricing
      9,020 SF

      Chaska Office Suites: Prime Location

      Two Suites, Downtown Chaska, MN
      112 5Th St, Chaska, MN 55318
      View Details
    • $275,000
      1,536 SF

      Chaska Office Condo For Sale

      1,536 SF end cap office condo in Chaska, MN.
      572-568 Bavaria Ln, Chaska, MN 55318
      View Details
    • $1,766,341
      4,809 SF

      Chaska Retail Investment Opportunity

      Big O Tires NNN Lease, High ROI
      1305 Crystal Ln, Chaska, MN 55318
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      38,000 SF

      Chaska Plaza Office Suites

      Prime Chaska location, 400-700 sq ft.
      3000 Hundertmark Rd, Chaska, MN 55318
      View Details
    • Contact for pricing
      10,262 SF

      Chaska Office Space For Rent

      Office space available in Chaska, convenient location, ample parking.
      111 Hundertmark Rd, Chaska, MN 55318
      View Details
    • $23 SF/Yr
      8,728 SF

      Class A Medical Building

      Medical building with lake views, ample parking, and on-site facilities.
      110105 Pioneer Trl, Chaska, MN 55318
      View Details
    • $12 SF/Yr
      2,515 SF

      Downtown Chaska Office Space

      Office space in downtown Chaska with highway exposure.
      207 N Chestnut St, Chaska, MN 55318
      View Details
    • $16 SF/Yr
      3,100 SF

      Mixed-Use Property in Historic Chaska

      Upscale retail, office, and multi-tenant housing in downtown Chaska.
      110 East 1St St, Chaska, MN 55318
      View Details
    • Contact for pricing
      38,290 SF

      Chaska Tech Center Warehouse Space

      Modern warehouse space, Chaska, MN. Ideal for business or storage.
      2950 Chaska Blvd, Chaska, MN 55318
      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.
    114 2nd St
    Chaska, MN 55318-2628
    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.