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Property profile & analytics
FOR LEASE
Investment properties
318 1St Ave SW, Rochester, MN 55902
Entity Owned
Absentee Owner
Free & Clear
Property ID
US46-1443123
For Lease
1 / 9
$8 SF/Yr
318 1St Ave SW, Rochester, MN 55902
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2010
Total area
36,107 SF
Lot
0.49 ac (21,170 SF)
APN
64.02.12.079185
UPID
US46-1443123
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.51M
Comparable Approach
Comparable
$5.24M
Blend (final)
Blend
$5.29M
Owner & transaction history
GH HOLDINGS LLC
GH HOLDINGS LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+10.7%
Retail stores
$5.8M
+1.6%
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%
$5,970,000
6.5%
$5,510,000
7%
$5,120,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,710,000
Current use
RESTAURANT
$6,320,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$5,800,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,705,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$5,660,000
Change: -1% · Conversion: Easy
Blend value · Realmo final
$5.29M
Range $4.76M – $5.82M · ±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
$147 / 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
$437,094
Tax year 2023
Assessed value
$6,405,700
Assessed 2021
Previous assessed
$6,405,700
+0.0% YoY
Effective rate
6.82%
On assessed value
Assessed land
$709,400
Assessed improvement
$5,696,300
Land market value
$709,400
Improvement market value
$5,696,300
Total market value
$6,405,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
2010
Heating
NONE
Buildings
2
Total area
36,107 SF
Lot
0.49 ac (21,170 SF)
APN
64.02.12.079185
UPID
US46-1443123
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
COMMERCIAL (GENERAL) Current
Est. value
$5.7M
RESTAURANT
Est. value
$6.3M
RETAIL STORES
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$5.7M
OFFICE BUILDING
Est. value
$5.7M
COMMERCIAL (GENERAL) Current
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2010
Heating
NONE
Buildings
2
Lot
0.49 ac
Current owner
From public records · entity-resolved
GH HOLDINGS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1708 2ND ST SW, ROCHESTER, MN 55902-0331
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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