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

    2635 78th St Chanhassen, MN 55317-4502

    • Strip malls
    • 15,106 SF
    • 1.79 lot acres
    OFF-MARKET
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0212548
    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

    • Jimmy John's / Caterer / Sandwich Shop

    Property Details for 2635 78th St

    Year built
    2005
    Lot size
    1.79 lot acres
    Property size
    15,106 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    25-8280228
    APU
    258280228

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $495,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $697,000
      Market price range: $436k - $736k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $545,000
      Current use
      WAREHOUSE, STORAGE
      $515,000
      Change: -5% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Chanhassen
    County
    Carver
    State
    Minnesota
    Longitude
    -93.5885
    Latitude
    44.8642
    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
    2024
    $70,808
    $1,091,600
    $1,545,600
    $2,637,200
    -
    $1,091,600
    $1,545,600
    $2,637,200

    Comparable in this City

    • Value Estimation
      $460,000
      10,366 SF

      7860 Century Blvd

      SHOPPING CENTER, STRIP CENTER • 10,366 SF
      7860 Century Blvd, Chanhassen, MN 55317-8005
      View Details
    • Value Estimation
      $540,000
      13,510 SF

      460 Lk Dr, Unit 464

      SHOPPING CENTER, STRIP CENTER • 13,510 SF
      460 Lk Dr, Chanhassen, MN 55317-5003
      View Details
    • Value Estimation
      $455,000
      9,752 SF

      7812 Market Blvd, Unit 818

      SHOPPING CENTER, STRIP CENTER • 9,752 SF
      7812 Market Blvd, Chanhassen, MN 55317-9440
      View Details
    • Value Estimation by Request
      34,100 SF

      800 78th St

      SHOPPING CENTER, STRIP CENTER • 34,100 SF
      800 78th St, Chanhassen, MN 55317-9578
      View Details
    • Value Estimation
      $390,000
      9,090 SF

      320 Lk E Dr, Unit 380

      SHOPPING CENTER, STRIP CENTER • 9,090 SF
      320 Lk E Dr, Chanhassen, MN 55317-9302
      View Details
    • Value Estimation
      $1,105,000
      88,205 SF

      7836 Market Blvd, Unit 900

      SHOPPING CENTER, STRIP CENTER • 88,205 SF
      7836 Market Blvd, Chanhassen, MN 55317-9440
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      14 SF

      New Mixed-Use Development Retail Space

      New mixed-use development with retail space and market rate apartments.
      591 W 78Th St, Chanhassen, MN 55317
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    • Contact for pricing
      1.80 Acres

      Chanhassen Commercial Land Opportunity

      1.8-acre commercial lot, prime location.
      8971 Crossroads Blvd, Chanhassen, MN 55317
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    • $374,900
      2,110 SF

      Chanhassen Townhome with Wetland Views

      Well-maintained townhome with modern amenities and scenic wetland views.
      9450 Washington Cir, Chanhassen, MN 55317
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      Land For Sale Chanhassen

      Land available for sale in Chanhassen, Minnesota.
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    • $279,000

      Updated Townhome in Prime Location

      Move-in-ready townhome near shopping, dining, and amenities.
      7275 Pontiac Cir, Chanhassen, MN 55317
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    • $1,450,000
      23,050 SF

      Chanhassen Industrial Building For Sale

      23,050 SF industrial building configured for two tenants.
      7850-7860 Park Dr, Chanhassen, MN 55317
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Chanhassen

      Retail property in Chanhassen, Minnesota, currently 100% leased.
      420-440 Pond Promenade, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      15,000 SF

      Retail Center and Land Available

      Land and retail space for sale or lease in Chanhassen.
      8971 Crossroads Blvd, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      44,424 SF

      Chanhassen Retail Space Available

      Prime Chanhassen storefront, multiple units.
      600 Market St, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      2,621 SF

      Retail Space in Chanhassen

      Retail space with high visibility and ample parking.
      530-540 W 79Th St, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      5,000 SF

      Chanhassen Retail Space Available

      5,000 SF retail space for lease in Chanhassen, MN.
      951 W 78Th St, Chanhassen, MN 55317
      View Details
    • Contact for pricing
      1,510 SF

      Retail and Office Spaces Available

      Retail and office spaces for lease in Chanhassen, Minnesota.
      580-600 Market St, Chanhassen, MN 55317
      View Details
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    2635 78th St
    Chanhassen, MN 55317-4502
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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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