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    Property profile & analytics

    1696 Greenview Dr Sw Rochester, MN 55902

    • Office buildings
    • 20,040 SF
    • 2.19 lot acres
    For Sale
    View listing
    $3,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1474716
    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

    • Third Judicial District Administration / State Government Office
    • Seasons Hospice / Hospice
    • Heidi Seaberg / General Practitioner / Nurse Practitioner

    Property Details for 1696 Greenview Dr Sw

    Year built
    1989
    Lot size
    2.19 lot acres
    Property size
    20,040 SF
    Property type
    Office buildings
    APN
    64.10.42.049648
    APU
    641042049648

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,807,000
      Market price range: $1.91M - $4.36M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,140,000
      Current use
      RESTAURANT
      $3,510,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $3,220,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $3,170,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,165,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4861
    Latitude
    43.9996
    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
    2021
    $0.00
    $1,146,200
    $1,822,600
    $2,968,800
    -
    $1,146,200
    $1,822,600
    $2,968,800

    Comparable in this City

    • Value Estimation
      $3,150,000
      23,240 SF

      903 Ctr W St

      OFFICE BUILDING • 23,240 SF
      903 Ctr W St, Rochester, MN 55902-6278
      View Details
    • Value Estimation
      $595,000
      11,752 SF

      1620 Greenview SW Dr

      OFFICE BUILDING • 11,752 SF
      1620 Greenview SW Dr, Rochester, MN 55902-4319
      View Details
    • Value Estimation
      $4,500,000
      6,840 SF

      210 1st SW Ave

      OFFICE BUILDING • 6,840 SF
      210 1st SW Ave, Rochester, MN 55902
      View Details
    • Value Estimation
      $9,015,000
      68,001 SF

      201 1st SW Ave

      OFFICE BUILDING • 68,001 SF
      201 1st SW Ave, Rochester, MN 55902-3130
      View Details
    • Value Estimation
      $14,675,000
      117,000 SF

      155 1st SW Ave

      OFFICE BUILDING (MULTI-STORY) • 117,000 SF
      155 1st SW Ave, Rochester, MN 55902-3147
      View Details
    • Value Estimation by Request
      7,336 SF

      1708 2nd SW St

      OFFICE BUILDING • 7,336 SF
      1708 2nd SW St, Rochester, MN 55902-0331
      View Details

    Similar Nearby for Sale

    • $3,000,000
      20,040 SF

      Rochester Office Building For Sale

      Turn-key office space with ample parking and green space.
      1696 Greenview Dr Sw, Rochester, MN 55902
      View Details
    • $3,750,000
      11,992 SF

      Rochester Office Building For Sale

      Office building with 11,992 square feet of space.
      2200 2Nd St SW, Rochester, MN 55902
      View Details
    • $325,000
      1,465 SF

      Professional Condo Near Downtown

      Condo with five offices, parking, and modern finishes.
      300 3Rd Ave SE, Rochester, MN 55902
      View Details
    • $2,500,000
      6,000 SF

      Rochester Warehouse & Land Investment

      6,000 SF Warehouse, 3-4 Acres
      7050 11Th Ave, Rochester, MN 55902
      View Details
    • $285,000
      1,548 SF

      Spacious Townhome Near Downtown

      Light-filled townhome with loft, close to downtown shopping and Mayo.
      1975 Waterford Pl SW, Rochester, MN 55902
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    • $2,100,000
      12,000 SF

      Spacious Retail Building For Sale

      12,000 SF retail building on 2.7 acres for sale.
      4825 Commercial Dr SW, Rochester, MN 55902
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    Similar Nearby for Lease

    • Contact for pricing
      65,624 SF

      Office Building with Highway Visibility

      Office building with ample parking and highway frontage available for lease.
      3551 Commercial Dr SW, Rochester, MN 55902
      View Details
    • $29 SF/Yr
      325 SF

      Professional Office Space Available

      Prime office space in Stone Crossing Business Center.
      1221 3Rd Ave SW, Rochester, MN 55902
      View Details
    • $25 SF/Yr
      2,327 SF

      Downtown Rochester Office Space Available

      Office space in the heart of downtown Rochester.
      15 1St St SE, Rochester, MN 55902
      View Details
    • $40 SF/Yr
      2,618 SF

      Versatile Office Space Available

      Adaptable 4,000 sq. ft. space suitable for various businesses.
      20 2Nd Ave SW, Rochester, MN 55902
      View Details
    • Contact for pricing
      1,744 SF

      Downtown Rochester Office/Retail Space

      Turn-key office/retail space near Mayo Clinic in downtown Rochester.
      101 1St Ave SW, Rochester, MN 55902
      View Details
    • Contact for pricing
      13,032 SF

      Rochester Office Space Available

      Office space available for rent in Rochester, Minnesota.
      300 2Nd Ave SW, Rochester, MN 55902
      View Details
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    1696 Greenview Dr Sw
    Rochester, MN 55902
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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.

    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
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