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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Manufacturing properties
1648 3rd SE Ave Rochester, MN 55904-7920
Entity Owned
13-yr Hold
Free & Clear
Property ID
US46-1143313
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1967
Total area
13,709 SF
Lot
1.15 ac (50,138 SF)
APN
64.12.32.008490
UPID
US46-1143313
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
-
Virgil's Auto Clinic & Towing Auto Repair Shop
-
The Fridge Cafe & Coffee Shop Take-out & Catering
-
Buy Rite Sales Car Dealership
-
Rochester Golf Carts and More Golf Cart Dealer Small Engine Repair Service
-
Virgils Auto Repair & Towing Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$802k
Blend (final)
Blend
$1.01M
Owner & transaction history
Ragan Hexum Properties LLC · 13 yrs held
Ragan Hexum Properties LLC
since 2013
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.3M
+0.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,390,000
6.5%
$1,280,000
7%
$1,190,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,325,000
Current use
WAREHOUSE, STORAGE
$1,330,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10%
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
$74 / 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
$29,328
Tax year 2023
Assessed value
$1,015,500
Assessed 2021
Previous assessed
$1,015,500
+0.0% YoY
Effective rate
2.89%
On assessed value
Assessed land
$300,700
Assessed improvement
$714,800
Land market value
$300,700
Improvement market value
$714,800
Total market value
$1,015,500
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1967
Heating
FORCED AIR
Cooling
CENTRAL
Bathrooms
4
Total area
13,709 SF
Lot
1.15 ac (50,138 SF)
APN
64.12.32.008490
UPID
US46-1143313
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
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1967
Heating
FORCED AIR
Cooling
Yes
Bathrooms
4
Lot
1.15 ac
Current owner
From public records · entity-resolved
Ragan Hexum Properties LLC
Entity
Free & Clear · 13 yrs held
Mailing address
1242 MARION RD SE, ROCHESTER, MN 55904-5729
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2013
—
Ragan Hexum Properties LLC
1648 Third Avenue LLC
Contract Sale
—
Jul 3, 2013
$900,000
Ragan Hexum Properties LLC
Mkaf LLC
Warranty Deed
$700,000 · Minnwest Bank Metro
Jun 10, 2010
$900,000
1648 Third Avenue LLC
Mkaf LLC
Contract Sale
$800,000 · Mkaf LLC Etal
Dec 27, 2007
—
Mkaf LLC
Mark D Kramer
Quit Claim Deed
related
—
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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