Entity Owned 
For Sale
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Contact for pricing
221 28Th St SE, Rochester, MN 55904
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Property summary
AI-generated overview
The property is a retail space located in Rochester’s South Broadway retail corridor, positioned adjacent to a major power retail center and within an area that is near large retail and service anchors. It features a drive-thru component and an end-cap configuration, with expansive storefront windows that provide natural light and signage visibility along South Broadway. The site provides two ingress and egress points, dedicated on-site parking for tenants and visitors, and access to major transportation routes. The surrounding area includes nearby retail centers, entertainment venues, and recreational facilities, and it is within close proximity to the Mayo Clinic.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2008
Total area
10,741 SF
Lot
1.58 ac (68,868 SF)
APN
64.14.44.079069
UPID
US46-1351571
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Arcade & Gaming Center Electronics & Wireless Store
-
Barber Shop
-
Barber Shop
-
(Bike/Boat/Book/etc) Store
-
Parking Lot & Garage
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.39M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.39M
Owner & transaction history
since 2024
Last sale
$4.4M
7 recorded transactions
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$4.39M
Value range
$3.95M – $4.83M
±10% around blend
Estimated value / SF
$409 / SF
Confidence
Property data
75
Comparable evidence
60
Income certainty
100
$3.95M
blend $4.39M
$4.83M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,741 SF
Lot area
1.58 ac
Year built
2008
APN
64.14.44.079069
Assessed value
$2,600,000
Annual tax
$80,802
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$80,802
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.39M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
3.20%
Selected cap rate for this strip malls
Derived from the Rochester market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.20%
9.0%
NOI (est.)
$121k *
Last sale · Oct 2024
$4.39M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$3.77M
Move the market yield to see immediate price impact.
Value / SF
$351
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.70%3.20%3.70%
$109k
$4.02M
$3.39M
$2.93M
$121k
$4.47M
$3.77M
$3.26M
$133k
$4.91M
$4.15M
$3.59M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$80,802
Tax year 2023
Assessed value
$2,600,000
Assessed 2021
Previous assessed
$2,600,000
+0.0% YoY
Effective rate
3.11%
On assessed value
Assessed land
$826,300
Assessed improvement
$1,773,700
Land market value
$826,300
Improvement market value
$1,773,700
Total market value
$2,600,000
Applied tax rate
2,303.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
2008
Heating
FORCED AIR
Cooling
CENTRAL
Total area
10,741 SF
Lot
1.58 ac (68,868 SF)
APN
64.14.44.079069
UPID
US46-1351571
Jurisdiction
OLMSTED
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Building & site characteristics
From public records
Year built
2008
Heating
FORCED AIR
Cooling
Yes
Lot
1.58 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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