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Property profile & analytics
OFF-MARKET
Estimated value
$945,000
Warehouses
3621 9th NW St, Rochester, MN 55901-6680
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US46-1758915
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Total area
7,216 SF
Lot
1.27 ac (55,408 SF)
APN
74.32.11.072327
UPID
US46-1758915
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
Current use
Occupant on record · Public records
-
The Boldt Company Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$880k
Comparable Approach
Comparable
$1.10M
Blend (final)
Blend
$945k
Owner & transaction history
Ikaria LLC · 1 yrs held
Ikaria LLC
since 2024
Last sale
$900,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+70.7%
Retail stores
$1.2M
+56.6%
Commercial (general)
$1.1M
+54.1%
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%
$950,000
6.5%
$880,000
7%
$815,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$740,000
Current use
RESTAURANT
$1,265,000
Change: +71% · Conversion: Difficult
RETAIL STORES
$1,160,000
Change: +57% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,140,000
Change: +54% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,140,000
Change: +54% · Conversion: Easy
OFFICE BUILDING
$1,130,000
Change: +53% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$700,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10% · vs last sale $900k (Sep 20 2024)
Last sale anchor
$900k
Sep 20 2024
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
$131 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$22,418
Tax year 2022
Assessed value
$802,600
Assessed 2022
Previous assessed
$760,300
+5.6% YoY
Effective rate
2.79%
On assessed value
Assessed land
$332,300
Assessed improvement
$470,300
Land market value
$332,300
Improvement market value
$470,300
Total market value
$802,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
YES
Bathrooms
3
Total area
7,216 SF
Lot
1.27 ac (55,408 SF)
APN
74.32.11.072327
UPID
US46-1758915
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
WAREHOUSE, STORAGE Current
Est. value
$740,000
RESTAURANT
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
INDUSTRIAL (GENERAL)
Est. value
$700,000
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1997
Heating
YES
Bathrooms
3
Lot
1.27 ac
Current owner
From public records · entity-resolved
Ikaria LLC
Entity
Mailing address
PO BOX 607, CLEAR LAKE, IA 50428-0607
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2024
$900,000
Ikaria LLC
Lni Boldt LLC
Warranty Deed
$625,000 · Nsb Bank
Jan 22, 2013
—
Lni Boldt LLC
Leslie E Nelson
Limited Warranty Deed
—
Sep 13, 2007
$730,000
Leslie E Nelson
Premier Bank Rochester
Corporation Deed
$580,000 · Premier Bank Rochester
Jan 17, 2007
$719,195
Premier Bank Rochester
David W Boyd
Sheriffs Deed
related
—
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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