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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    204 3rd St Monticello, MN 55362-8793

    • Office buildings
    • 6,820 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Jan 14, 2021
    $900,000
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    8.1%
    Office buildings
    Location Intelligence
    Property ID
    US46-1597426
    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

    • Office buildings

    Property Details for 204 3rd St

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    6,820 SF
    Property type
    Office buildings
    APN
    155-010-031040
    APU
    155010031040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,065,000
      ML approach
      $1,030,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $591,000
      Market price range: $524k - $1.45M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $905,000
      Current use
      RESTAURANT
      $890,000
      Change: -1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $800,000
      Change: -12% Conversion: Difficult
      RETAIL STORES
      $795,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Wright
    State
    Minnesota
    Longitude
    -93.7971
    Latitude
    45.3047
    CBSA code
    33460
    CBSA name
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 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
    $11,114
    $54,600
    $586,300
    $640,900
    -
    $54,600
    $586,300
    $640,900

    Comparable in this City

    • Value Estimation by Request
      3,727 SF

      Monticello, MN 55362

      OFFICE BUILDING • 3,727 SF
      Monticello, MN 55362
      View Details
    • Value Estimation by Request
      2,266 SF

      142 Broadway St

      OFFICE BUILDING • 2,266 SF
      142 Broadway St, Monticello, MN 55362-9351
      View Details
    • Value Estimation by Request
      7,680 SF

      141 Broadway St

      OFFICE BUILDING • 7,680 SF
      141 Broadway St, Monticello, MN 55362-9322
      View Details
    • Value Estimation
      $790,000
      5,316 SF

      316 Pne St

      OFFICE BUILDING • 5,316 SF
      316 Pne St, Monticello, MN 55362-8471
      View Details
    • Value Estimation
      $560,000
      3,560 SF

      4300 School Blvd

      OFFICE BUILDING • 3,560 SF
      4300 School Blvd, Monticello, MN 55362-4677
      View Details
    • Value Estimation by Request
      4,100 SF

      119 3rd St

      OFFICE BUILDING • 4,100 SF
      119 3rd St, Monticello, MN 55362-9292
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,994 SF

      Monticello Office Building For Sale

      7,994 SF office building, formerly veterinary and chiropractic clinic.
      1260 State Highway 25, Monticello, MN 55362
      View Details
    • New
      Contact for pricing
      5,904 SF

      Monticello Industrial Building For Sale

      Industrial building in Monticello's industrial park with excellent regional access.
      114 Thomas Cir, Monticello, MN 55362
      View Details
    • Contact for pricing
      4,000 SF

      Monticello Retail Building on Broadway

      4,000 SF retail building on 1.01 acre lot.
      1549 Broadway St E, Monticello, MN 55362
      View Details
    • $279,000
      10.00 Acres

      Wooded Acreage with Lake Views

      Large, wooded acreage near Lake Ida, build-ready for custom home.
      B2/L1 Baker Ave NW, Monticello, MN 55362
      View Details
    • $599,000
      2,459 SF

      Monticello Commercial Land Opportunity

      High-traffic 3-acre lot, prime location.
      1501 Broadway St, Monticello, MN 55362
      View Details
    • Contact for pricing

      Land with I-94 Frontage

      Commercial land with interstate visibility and fiber optics.
      E 7Th St, Monticello, MN 55362
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Monticello Office Space For Rent

      Second-level office space with ample parking and central HVAC.
      113 Locust St, Monticello, MN 55362
      View Details
    • Contact for pricing
      525 SF

      Monticello Office Space For Rent

      Office space available for lease in Monticello, Minnesota.
      321 Walnut St, Monticello, MN 55362
      View Details
    • Contact for pricing
      4,000 SF

      Monticello Office Space For Lease

      Two-story office space available in Monticello, Minnesota.
      1324-1330 Edmonson Ave NE, Monticello, MN 55362
      View Details
    • Contact for pricing
      1,288 SF

      Lower Level Office Space

      1,288 SF office space for lease near I-94.
      611 Walnut St, Monticello, MN 55362
      View Details
    • Contact for pricing
      5,801 SF

      Monticello Build-to-Suit Opportunity

      5,801 SF build-to-suit with drive-thru potential in Monticello.
      9766 Fallon Ave, Monticello, MN 55362
      View Details
    • $25 SF/Yr
      3,614 SF

      Turnkey Medical Office Space Available

      Medical office space with patient rooms and convenient highway access.
      3880 Deegan Ave, Monticello, MN 55362
      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.
    204 3rd St
    Monticello, MN 55362-8793
    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.