Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2720 Broadway N Ave Rochester, MN 55906-3980

    • Office buildings
    • 11,543 SF
    • 0.84 lot acres
    OFF-MARKET
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1442611
    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

    • Mayo Clinic Center for Safe and Healthy Children and Adolescents / Daycare Center / Foster Care Service
    • Community Health Service Inc - Rochester Clinic / Medical Clinic

    Property Details for 2720 Broadway N Ave

    Year built
    1995
    Lot size
    0.84 lot acres
    Property size
    11,543 SF
    Property type
    Office buildings
    APN
    74.24.33.026253
    APU
    742433026253

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,125,000
      Market price range: $1.10M - $2.51M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,810,000
      Current use
      RESTAURANT
      $2,020,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $1,855,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,825,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,825,000
      Change: +1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4541
    Latitude
    44.0531
    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
    $51,472
    $293,200
    $1,472,000
    $1,765,200
    -
    $293,200
    $1,472,000
    $1,765,200

    Comparable in this City

    • Value Estimation
      $2,065,000
      14,764 SF

      16 1st NE Ave

      OFFICE BUILDING • 14,764 SF
      16 1st NE Ave, Rochester, MN 55906
      View Details
    • Value Estimation
      $790,000
      4,617 SF

      2360 Broadway N Ave

      OFFICE BUILDING • 4,617 SF
      2360 Broadway N Ave, Rochester, MN 55906-4065
      View Details
    • Value Estimation
      $1,350,000
      26,996 SF

      1500 1st NE Ave

      OFFICE BUILDING • 26,996 SF
      1500 1st NE Ave, Rochester, MN 55906-4170
      View Details
    • Value Estimation by Request
      3,016 SF

      38 7th NE Ave

      OFFICE BUILDING • 3,016 SF
      38 7th NE Ave, Rochester, MN 55906-4632
      View Details
    • Value Estimation
      $1,315,000
      9,568 SF

      325 Alliance NE Pl

      OFFICE BUILDING • 9,568 SF
      325 Alliance NE Pl, Rochester, MN 55906-4610
      View Details
    • Value Estimation by Request
      2,315 SF

      3224 6th NE Ave

      OFFICE BUILDING • 2,315 SF
      3224 6th NE Ave, Rochester, MN 55906-3806
      View Details

    Similar Nearby for Sale

    • $849,900

      Prime Rochester Commercial Land

      3+ Acre Lot, Utilities Connected, Ready to Build
      280 Penny Ln, Rochester, MN 55906
      View Details
    • $124,000
      0.40 Acres

      Residential Land with Valley Views

      Large residential lots near downtown Rochester with scenic valley views.
      1504 Shannon Oaks Blvd NE, Rochester, MN 55906
      View Details
    • $169,000
      0.55 Acres

      Residential Land with Valley Views

      Large residential lots near downtown Rochester with valley views.
      1663 Shannon Oaks Blvd NE, Rochester, MN 55906
      View Details
    • $130,000
      0.27 Acres

      Residential Land Near Downtown Rochester

      Residential land for sale near downtown Rochester and Mayo Clinic.
      3338 Bella Terra Rd NE, Rochester, MN 55906
      View Details
    • $100,000
      0.15 Acres

      Residential Lot in Desirable Neighborhood

      Residential lot in NE Rochester, build your new home!
      1441 Hadley Creek Dr NE, Rochester, MN 55906
      View Details
    • $295,000
      4.22 Acres

      Residential Land Near Mayo Clinic

      Residential lots with natural amenities, convenient to Mayo Clinic.
      2951 Serenity Ln NE, Rochester, MN 55906
      View Details

    Similar Nearby for Lease

    • $6,600,000
      5,009 SF

      Downtown Rochester Redevelopment Opportunity

      42,666 SF building in a highly desirable downtown location.
      102 Broadway Ave S, Rochester, MN 55906
      View Details
    • $12 SF/Yr
      9,811 SF

      Lowertown Office Building For Rent

      Office building in a convenient, growing neighborhood with on-site parking.
      112 7Th St NE, Rochester, MN 55906
      View Details
    • $240 SF/Yr
      2,476 SF

      BRYK Office Space, Rochester, MN

      Modern Office Suites, Lowertown
      401 Broadway Ave, Rochester, MN 55906
      View Details
    • $6 SF/Yr
      2,635 SF

      Versatile Flex Space in Rochester

      Flexible office and flex-space near Mayo Clinic.
      15 Civic Center Dr NE, Rochester, MN 55906
      View Details
    • Contact for pricing
      500 SF

      Thrive Business Center: Rochester Office Suites

      Modern Rochester office space, 14 suites available.
      2443 Clare Ln, Rochester, MN 55906
      View Details
    • $21 SF/Yr
      2,476 SF

      Prime Office Space in Lowertown

      Modern office space for lease in Rochester's vibrant Lowertown neighborhood.
      401 N Broadway Ave, Rochester, MN 55906
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2720 Broadway N Ave
    Rochester, MN 55906-3980
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.