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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Manufacturing properties
1704 3rd SE Ave, Rochester, MN 55904-7975
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US46-1864466
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1982
Total area
7,525 SF
Lot
0.53 ac (23,043 SF)
APN
64.12.32.071215
UPID
US46-1864466
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
-
Integrated Home Services Landscaping General Contractor
-
Bellezas Locochonas Clothing & Fashion Store
-
LMS Boutique Clothing Store Baby Clothing Store
-
Tacos Juquilas Restaurant
-
Tejanita Jo’s Fit Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$705k
Comparable Approach
Comparable
$451k
Blend (final)
Blend
$580k
Owner & transaction history
Top Hat LLC · 8 yrs held
Top Hat LLC
since 2017
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$730,000
+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%
$760,000
6.5%
$705,000
7%
$655,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$730,000
Current use
WAREHOUSE, STORAGE
$730,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$77 / 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
$15,424
Tax year 2023
Assessed value
$570,900
Assessed 2021
Previous assessed
$570,900
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$138,200
Assessed improvement
$432,700
Land market value
$138,200
Improvement market value
$432,700
Total market value
$570,900
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
1982
Heating
RADIANT
Total area
7,525 SF
Lot
0.53 ac (23,043 SF)
APN
64.12.32.071215
UPID
US46-1864466
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
$730,000
WAREHOUSE, STORAGE
Est. value
$730,000
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
1982
Heating
RADIANT
Lot
0.53 ac
Current owner
From public records · entity-resolved
Top Hat LLC
Entity
Mailing address
1704 3RD AVE SE STE #3, ROCHESTER, MN 55904-7976
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2017
$599,000
Top Hat LLC
Gl And F Properties LLC
Warranty Deed
$300,000 · First Security Bank
Aug 28, 2017
—
Top Hat LLC
—
Deed
related
$300,000 · First Security Bank
Mar 4, 2015
—
Nathanial P Schubel Trust
Nathanial P Schubel
Intrafamily Transfer
related
—
Dec 3, 2012
—
Gary M Schubel
1704 3rd Avenue LLC
Warranty Deed
—
Feb 11, 2010
—
Gl & F Properties LLC
1704 3rd Avenue LLC
Re-recorded Document
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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