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

    208 16th SE St Rochester, MN 55904-7911

    • Commercial real estate
    • 10,496 SF
    • 0.78 lot acres
    OFF-MARKET
    Value Estimations
    $1,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0914014
    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

    • K & M Glass Inc / Hardware & Home Improvement / Home Decor Store

    Property Details for 208 16th SE St

    Year built
    1964
    Lot size
    0.78 lot acres
    Property size
    10,496 SF
    Property type
    Commercial real estate
    APN
    64.11.41.087094
    APU
    641141087094

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,349,000
      Market price range: $838k - $2.75M
      AI Estimate
      $778,000
      Market price range: $448k - $1.61M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,690,000
      Current use
      RETAIL STORES
      $1,685,000
      Change: -0% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,660,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $1,645,000
      Change: -3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4598801
    Latitude
    43.9997524
    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
    2023
    $20,116
    $202,500
    $592,800
    $795,300
    -
    $202,500
    $592,800
    $795,300

    Comparable in this City

    • Value Estimation
      $1,200,000
      11,808 SF

      1910 Broadway S Ave

      COMMERCIAL (GENERAL) • 11,808 SF
      1910 Broadway S Ave, Rochester, MN 55904-7930
      View Details
    • Value Estimation
      $990,000
      6,600 SF

      211 Broadway S Ave

      COMMERCIAL (GENERAL) • 6,600 SF
      211 Broadway S Ave, Rochester, MN 55904-6527
      View Details
    • Value Estimation
      $2,820,000
      20,539 SF

      239 28th SE St

      COMMERCIAL (GENERAL) • 20,539 SF
      239 28th SE St, Rochester, MN 55904-5577
      View Details
    • Value Estimation
      $625,000
      3,960 SF

      28 9th SE St

      COMMERCIAL (GENERAL) • 3,960 SF
      28 9th SE St, Rochester, MN 55904-6423
      View Details
    • Value Estimation
      $910,000
      8,580 SF

      313 Broadway S Ave

      COMMERCIAL (GENERAL) • 8,580 SF
      313 Broadway S Ave, Rochester, MN 55904
      View Details
    • Value Estimation
      $1,560,000
      4,000 SF

      2900 Broadway S Ave

      COMMERCIAL (GENERAL) • 4,000 SF
      2900 Broadway S Ave, Rochester, MN 55904-5572
      View Details

    Similar Nearby for Sale

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      2.90 Acres

      2039 N Frontage Rd Highway 14 SE Rochester

      Land • 2.90 Acres
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      View Details
    • Contact for pricing
      2.15 Acres

      Prime Rochester Commercial Land

      2.15-Acre Vacant Lot, Ideal Location
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    • $220,089

      Prime Commercial Lot Opportunity

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      Commercial Land Near Regional Retailers

      Land near retailers and future sports complex.
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    • $1,000,000

      Prime Commercial Land Opportunity

      Land near retailers, apartments, hotels, and future sports complex.
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      View Details
    • New
      Contact for pricing
      4,000 SF

      Flexible Commercial Building For Sale

      New commercial building with office and shop space for sale.
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      View Details

    Similar Nearby for Lease

    • $18,000 /Mo
      800 SF

      Downtown Rochester Office Space

      800 sq ft Executive Office Suite
      211 Broadway Ave, Rochester, MN 55904
      View Details
    • $30 SF/Yr
      2,866 SF

      Retail Space Next to Dave's

      New construction retail space available for rent next to Dave's.
      1620 S Broadway, Rochester, MN 55904
      View Details
    • Contact for pricing
      1,611 SF

      Retail Spaces Near Sports Complex

      Two retail spaces available for lease near upcoming sports complex.
      4530-4550 Maine Ave SE, Rochester, MN 55904
      View Details
    • $22 SF/Yr
      800 SF

      Downtown Rochester Office Space For Rent

      Prime office space in downtown Rochester with Skyway access.
      211 S Broadway, Rochester, MN 55904
      View Details
    • Contact for pricing
      170 SF

      Professional Office Suites For Lease

      Office suites available in a professional atmosphere.
      Broadway Ave S 1903, Rochester, MN 55904
      View Details
    • $32 SF/Yr
      829 SF

      Move-in Ready Furnished Office Space

      Furnished, skyway-connected office space available for sublease.
      220 S Broadway, Rochester, MN 55904
      View Details
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    208 16th SE St
    Rochester, MN 55904-7911
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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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