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

    1620 3rd SE Ave Rochester, MN 55904-7920

    • Manufacturing properties
    • 23,528 SF
    • 0.91 lot acres
    OFF-MARKET
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1352554
    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

    • Linde Welding Gas & Equipment Center / Welding Supply Store / Industrial Gas Supplier

    Property Details for 1620 3rd SE Ave

    Year built
    1964
    Lot size
    0.91 lot acres
    Property size
    23,528 SF
    Property type
    Manufacturing properties
    APN
    64.12.32.008488
    APU
    641232008488

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $600,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $822,000
      Market price range: $780k - $1.79M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4581
    Latitude
    43.9991
    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
    $30,807
    $237,100
    $804,200
    $1,041,300
    -
    $237,100
    $804,200
    $1,041,300

    Comparable in this City

    • Value Estimation
      $1,040,000
      116,993 SF

      225 Woodlake SE Dr

      MANUFACTURING (LIGHT) • 116,993 SF
      225 Woodlake SE Dr, Rochester, MN 55904-5530
      View Details
    • Value Estimation
      $455,000
      10,640 SF

      32 Woodlake SE Dr

      MANUFACTURING (LIGHT) • 10,640 SF
      32 Woodlake SE Dr, Rochester, MN 55904-5506
      View Details
    • Value Estimation
      $220,000
      400 SF

      5 80th SE St

      PROCESSING PLANT (CEMENT, GRAVEL) • 400 SF
      5 80th SE St, Rochester, MN 55904-8435
      View Details
    • Value Estimation
      $300,000
      3,258 SF

      Rochester, MN 55904

      MANUFACTURING (LIGHT) • 3,258 SF
      Rochester, MN 55904
      View Details
    • Value Estimation
      $870,000
      51,600 SF

      6765 Hwy 14th E

      MANUFACTURING (LIGHT) • 51,600 SF
      6765 Hwy 14th E, Rochester, MN 55904-8679
      View Details
    • Value Estimation
      $405,000
      6,736 SF

      31 Rockport SE Ln

      MANUFACTURING (LIGHT) • 6,736 SF
      31 Rockport SE Ln, Rochester, MN 55904-4816
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.01 Acres

      Rochester Mixed-Use Investment Opportunity

      Four Buildings, High Visibility, Price Reduced
      1004 15Th Ave, Rochester, MN 55904
      View Details
    • $590,000

      Commercial Land Near Retailers, Hotels

      Land near retailers, apartments, hotels, and future sports complex.
      4345 Maine Ave SE, Rochester, MN 55904
      View Details
    • Contact for pricing

      Redevelopment Opportunity Near Rochester CBD

      Land suitable for redevelopment near Rochester CBD, retail, and parks.
      1915 Marion Rd SE, Rochester, MN 55904
      View Details
    • $875,000
      2.90 Acres

      2039 N Frontage Rd Highway 14 SE Rochester

      Land • 2.90 Acres
      2039 Frontage Rd Hwy 14, Rochester, MN 55904
      View Details
    • $220,089

      Prime Commercial Lot Opportunity

      0.43-acre commercial/industrial lot in a fast-growing corridor.
      40Th Ave NW, Rochester, MN 55904
      View Details
    • $1,120,000

      Commercial Land Near Regional Retailers

      Land near retailers and future sports complex.
      4430 Maine Ave SE, Rochester, MN 55904
      View Details

    Similar Nearby for Lease

    • $2,500,000
      23,378 SF

      Versatile Industrial/Office Building in Rochester

      Adaptable space for manufacturing, warehousing, or commercial operations.
      2460 Marion Rd SE, Rochester, MN 55904
      View Details
    • $6 SF/Yr
      54,406 SF

      Marion Road Industrial Space

      Rochester, MN: 54,406 SF Flex Space
      2450 Marion Rd, Rochester, MN 55904
      View Details
    • $18 SF/Yr
      97,000 SF

      Downtown Rochester Office Space

      97,000 SF Office Building, 35,819 SF Vacant
      206 Broadway Ave, Rochester, MN 55904
      View Details
    • $204 SF/Yr
      8,484 SF

      Downtown Rochester Office Space

      Historic Charm, Modern Amenities, 2,121 SF Available
      318 Broadway Ave, Rochester, MN 55904
      View Details
    • $22 SF/Yr
      1,885 SF

      Retail Space with Drive-Thru

      Retail space available for rent with drive-thru in Rochester.
      221 28Th St SE, Rochester, MN 55904
      View Details
    • $20 SF/Yr
      1,137 SF

      Retail Space Available For Lease

      Retail space available for lease in Rochester, MN.
      1217 Marion Rd SE, 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.
    1620 3rd SE Ave
    Rochester, MN 55904-7920
    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.