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Property profile & analytics
OFF-MARKET
Estimated value
$5,680,000
Office buildings
21 2nd SW St, Rochester, MN 55902-3026
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US46-1417945
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1957
Total area
39,120 SF
Lot
0.29 ac (12,415 SF)
APN
74.35.43.017893
UPID
US46-1417945
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
-
Mayo Clinic Cardiovascular Services Medical Clinic
-
USPS COLLECTION BOX Post Office
-
Brackenridge Skyway Plaza Shopping Center & Mall
-
Relax Wellness CenterLLC Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.68M
Owner & transaction history
Baheya LLC · 11 yrs held
Baheya LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.9M
+11.7%
Retail stores
$6.3M
+2.5%
Commercial (general)
$6.2M
+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
$6,130,000
Current use
RESTAURANT
$6,850,000
Change: +12% · Conversion: Moderate
RETAIL STORES
$6,285,000
Change: +3% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,185,000
Change: +1% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,185,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$5.68M
Range $5.11M – $6.25M · ±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
$145 / 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
$263,972
Tax year 2023
Assessed value
$8,575,900
Assessed 2021
Previous assessed
$8,575,900
+0.0% YoY
Effective rate
3.08%
On assessed value
Assessed land
$2,012,000
Assessed improvement
$6,563,900
Land market value
$2,012,000
Improvement market value
$6,563,900
Total market value
$8,575,900
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1957
Heating
STEAM
Cooling
CENTRAL
Bathrooms
6
Total area
39,120 SF
Lot
0.29 ac (12,415 SF)
APN
74.35.43.017893
UPID
US46-1417945
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
$6.1M
RESTAURANT
Est. value
$6.9M
RETAIL STORES
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$6.2M
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
1957
Heating
STEAM
Cooling
Yes
Bathrooms
6
Lot
0.29 ac
Current owner
From public records · entity-resolved
Baheya LLC
Entity
Mailing address
100 1ST AVE SW STE #300, ROCHESTER, MN 55902-3153
Ownership since
2014
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
Oct 10, 2014
$50,000
Baheya LLC
Lucy Bishop
Deed
$10,000,000 · Wells Fargo Bank NA
Oct 10, 2014
$25,000
Baheya LLC
Williams Parmele
Warranty Deed
—
Oct 10, 2014
$9,663,700
Baheya LLC
Brackenridge LLC
Quit Claim Deed
related
—
Apr 5, 2013
$25,000
Lucy Bishop
David T Bishop
Warranty Deed
related
—
Nov 2, 2005
$8,000
David T Bishop
Susan Conover
Warranty Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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