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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Warehouses
1928 32nd NW Ave, Rochester, MN 55901-8320
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-1475757
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1978
Total area
6,000 SF
Lot
1.19 ac (51,619 SF)
APN
74.28.24.009788
UPID
US46-1475757
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
-
Service Restoration Hardware & Home Improvement Construction Company
-
Gold Cross Courier Trucking Company
-
TruStar Energy Corporate Office
-
Stanley Steemer Upholstery Cleaning Service Water Damage Restoration Service
-
Seitz Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
$730k
Comparable Approach
Comparable
$912k
Blend (final)
Blend
$975k
Owner & transaction history
Rochester Plumbers And Fitters Bldg · 2 yrs held
Rochester Plumbers And Fitters Bldg
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+70.7%
Retail stores
$965,000
+56.6%
Commercial (general)
$950,000
+54.1%
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
$960,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
$790,000
6.5%
$730,000
7%
$680,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$615,000
Current use
RESTAURANT
$1,050,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$965,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$950,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$950,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$940,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $1.16M (Oct 3 2023)
Last sale anchor
$1.16M
Oct 3 2023
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
$163 / 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
$19,095
Tax year 2023
Assessed value
$662,400
Assessed 2022
Previous assessed
$479,900
+38.0% YoY
Effective rate
2.88%
On assessed value
Assessed land
$206,500
Assessed improvement
$455,900
Land market value
$206,500
Improvement market value
$455,900
Total market value
$662,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Buildings
2
Bathrooms
3
Total area
6,000 SF
Lot
1.19 ac (51,619 SF)
APN
74.28.24.009788
UPID
US46-1475757
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
WAREHOUSE, STORAGE Current
Est. value
$615,000
RESTAURANT
Est. value
$1.1M
RETAIL STORES
Est. value
$965,000
COMMERCIAL (GENERAL)
Est. value
$950,000
AUTO REPAIR, GARAGE
Est. value
$950,000
OFFICE BUILDING
Est. value
$940,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1978
Heating
FORCED AIR
Buildings
2
Bathrooms
3
Lot
1.19 ac
Current owner
From public records · entity-resolved
Rochester Plumbers And Fitters Bldg
Individual
Mailing address
3111 19TH ST NW, ROCHESTER, MN 55901-7086
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2025
—
Rochester Plumbers And Fitters Bldg
—
Deed
related
$795,508 · Union Bank & Trust Co
Oct 3, 2023
$1,160,000
Rochester Plumbers And Fitters Bldg
Ja Schieffert Properties LLC
Warranty Deed
$860,000 · Accentra Cu
Aug 16, 2023
$900,000
Ja Schieffert Properties LLC
Purple Mountain Properties LLC
Warranty Deed
$900,000 · Manufacturers Bank & Trust Co
Aug 5, 2021
—
M Squared LLC
—
Deed
related
$1,179,000 · Nicolet National Bank
Jun 10, 2021
$685,000
M Squared LLC
James Prock
Warranty Deed
$1,468,700 · Nicolet National Bank
Oct 7, 2013
$320,000
James O Prock
Margaret L Kemple
Warranty Deed
$360,000 · Royal Cu
Aug 26, 2013
—
Margaret L Kemple
Richard C Kemple
Affidavit Of Death Of Joint Tenant
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.
Try Rey
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