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    Property profile & analytics

    27 2Nd St SW Eyota, MN 55934

    • Banks
    • 3,941 SF
    • 0.39 lot acres
    For Sale
    View listing
    $399,000
    Last Sale
    Aug 02, 2023
    $300,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1292405
    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

    • Ihrke Geri / Insurance Agency

    Property Details for 27 2Nd St SW

    Year built
    1977
    Lot size
    0.39 lot acres
    Property size
    3,941 SF
    Property type
    Banks
    APN
    62.14.24.028195
    APU
    621424028195

    Description

    This 3,941-square-foot, two-story Class B commercial building in downtown Eyota, Minnesota, presents a unique investment opportunity. Located on a 0.39-acre lot at 27 W 2nd St, 55934, this vacant property offers a versatile space previously used as a bank. Features include a drive-through window, ample parking, attic storage, a skylight, an intact vault, dedicated office and conference rooms, and a break room. The building, constructed in 1977, is zoned for commercial use and boasts a convenient location in the heart of Eyota. With its 1 unit and 3,941 square feet, the asking price is $480,000 ($121.80/sq ft). The property's unique features and prime location make it ideal for a variety of businesses. This is a chance to acquire a well-maintained building with significant potential in a thriving community. The property's APN is 621424028195.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Eyota
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.2304
    Latitude
    43.988
    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
    $10,930
    $67,500
    $315,200
    $382,700
    -
    $67,500
    $315,200
    $382,700

    Comparable in this City

    • Value Estimation by Request
      771 SF

      211 Ctr S Ave

      RETAIL STORES (PERSONAL SERVICES) • 771 SF
      211 Ctr S Ave, Eyota, MN 55934-2240
      View Details
    • Value Estimation by Request
      1,103 SF

      22 Frnt SW St

      RETAIL STORES (PERSONAL SERVICES) • 1,103 SF
      22 Frnt SW St, Eyota, MN 55934-6505
      View Details
    • Value Estimation by Request
      384 SF

      10 2nd SE St

      RETAIL STORES (PERSONAL SERVICES) • 384 SF
      10 2nd SE St, Eyota, MN 55934
      View Details
    • Value Estimation by Request
      450 SF

      331 Sandstone NW Dr

      RETAIL STORES (PERSONAL SERVICES) • 450 SF
      331 Sandstone NW Dr, Eyota, MN 55934-7500
      View Details
    • Value Estimation by Request
      420 SF

      115 Ctr S Ave

      RETAIL STORES (PERSONAL SERVICES) • 420 SF
      115 Ctr S Ave, Eyota, MN 55934-2235
      View Details
    • Value Estimation
      $585,000
      14,400 SF

      501 Gln SW St

      GROCERY, SUPERMARKET • 14,400 SF
      501 Gln SW St, Eyota, MN 55934-2330
      View Details

    Similar Nearby for Sale

    • $399,000
      3,941 SF

      Eyota Commercial Building For Lease

      Well-maintained commercial building in Eyota with flexible space.
      27 2Nd St SW, Eyota, MN 55934
      View Details
    • $375,000
      450 SF

      Drive-Thru Ready Commercial Property

      Turnkey commercial property with drive-thru, paved parking, and excellent visibility.
      331 Sandstone Dr NW, Eyota, MN 55934
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    • $75,000
      0.69 Acres

      Residential Land in Aurora, Eyota

      Residential land with in-town amenities and neighborhood park.
      308 Spring Day Ct NE, Eyota, MN 55934
      View Details
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    Eyota, MN 55934
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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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