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Property profile & analytics
FOR SALE
Office buildings
21 1St St SW Rochester, MN 55902
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US46-1218869
For Sale
1 / 4
$24,550,000
21 1St St SW, Rochester, MN 55902
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1981
Total area
107,124 SF
Lot
0.23 ac (9,888 SF)
APN
74.35.43.017926
UPID
US46-1218869
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
-
Wells Fargo Home Mortgage Loan Service Bank
-
Ryan Companies US Construction Company
-
Wells Fargo Bank Bank Loan Service
-
Pinero Rebecca B Law Firm
-
Wells Fargo Private Bank Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.01M
Blend (final)
Blend
$13.74M
Owner & transaction history
Rochester Property Owner LLC · 7 yrs held
Rochester Property Owner LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.8M
+11.7%
Retail stores
$17.2M
+2.5%
Commercial (general)
$16.9M
+0.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$16,785,000
Current use
RESTAURANT
$18,750,000
Change: +12% · Conversion: Moderate
RETAIL STORES
$17,210,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$16,940,000
Change: +1% · Conversion: Easy
AUTO REPAIR, GARAGE
$16,930,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$13.74M
Range $12.36M – $15.11M · ±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
$128 / 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
$555,830
Tax year 2023
Assessed value
$17,992,200
Assessed 2021
Previous assessed
$17,992,200
+0.0% YoY
Effective rate
3.09%
On assessed value
Assessed land
$1,800,600
Assessed improvement
$16,191,600
Land market value
$1,800,600
Improvement market value
$16,191,600
Total market value
$17,992,200
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Sale
Year built
1981
Heating
NONE
Total area
107,124 SF
Lot
0.23 ac (9,888 SF)
APN
74.35.43.017926
UPID
US46-1218869
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
OFFICE BUILDING Current
Est. value
$16.8M
RESTAURANT
Est. value
$18.8M
RETAIL STORES
Est. value
$17.2M
COMMERCIAL (GENERAL)
Est. value
$16.9M
AUTO REPAIR, GARAGE
Est. value
$16.9M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1981
Heating
NONE
Lot
0.23 ac
Current owner
From public records · entity-resolved
Rochester Property Owner LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2018
$14,925,000
Rochester Property Owner LLC
Wells Fargo Bank N A
Warranty Deed
$16,575,000 · Wells Fargo Bank NA
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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