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

    407 2Nd Ave NW Rochester, MN 55902

    • Retail space
    • 15,111 SF
    • 0.52 lot acres
    For Sale
    View listing
    $1,900,000
    Last Sale
    May 23, 2024
    $1,100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1243325
    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

    • Powrful Media / Advertising Agency / Marketing & Advertising
    • We Feed Birds / (Bike/Boat/Book/etc) Store / Pet Store & Service

    Property Details for 407 2Nd Ave NW

    Year built
    1952
    Lot size
    0.52 lot acres
    Property size
    15,111 SF
    Property type
    Retail space
    APN
    74.35.42.018487
    APU
    743542018487

    Description

    This exceptional business opportunity presents a substantial 15,111 square foot commercial property ideally situated at 407 2nd Avenue NW in the vibrant city of Rochester, Minnesota. The property boasts a generous 0.52-acre lot, offering ample space for expansion, development, or outdoor activities related to the business. Located in Rochester, MN, this property benefits from the city's robust economy and thriving business environment. The asking price for this significant commercial asset is $10,000,000. The property's size and location make it suitable for a wide range of business ventures, from retail and office spaces to specialized commercial uses. Serious inquiries are encouraged to explore the potential of this prime commercial real estate offering. The substantial square footage provides significant flexibility for a variety of business plans and layouts. The 0.52-acre lot offers potential for future expansion or outdoor amenities. Given its location in Rochester, MN, this property benefits from a strong local economy and a well-established infrastructure. The property is ready for immediate occupancy, presenting a unique opportunity for a discerning investor or business owner seeking a significant presence in a thriving market. Detailed property information and specifications are available upon request. This is a rare opportunity to acquire a substantial commercial property in a desirable location. Don't miss out on this chance to secure a prime asset in a growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,100,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,523,000
      Market price range: $1.10M - $3.94M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4664
    Latitude
    44.0279
    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
    $22,654
    $367,800
    $442,600
    $810,400
    -
    $367,800
    $442,600
    $810,400

    Comparable in this City

    • Value Estimation
      $17,670,000
      221,003 SF

      3400 55th NW St

      RETAIL STORES (PERSONAL SERVICES) • 221,003 SF
      3400 55th NW St, Rochester, MN 55901-0123
      View Details
    • Value Estimation
      $3,965,000
      43,574 SF

      2717 Hwy 14th W

      RETAIL STORES (PERSONAL SERVICES) • 43,574 SF
      2717 Hwy 14th W, Rochester, MN 55901-7500
      View Details
    • Value Estimation by Request
      2,520 SF

      1428 5th NW Pl

      RETAIL STORES (PERSONAL SERVICES) • 2,520 SF
      1428 5th NW Pl, Rochester, MN 55901
      View Details
    • Value Estimation
      $1,525,000
      1,782 SF

      451 16th NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,782 SF
      451 16th NW Ave, Rochester, MN 55901-1808
      View Details
    • Value Estimation
      $985,000
      6,336 SF

      6440 34th NW Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,336 SF
      6440 34th NW Ave, Rochester, MN 55901
      View Details
    • Value Estimation
      $3,050,000
      29,244 SF

      1081 Pendant NW Ln

      RETAIL STORES (PERSONAL SERVICES) • 29,244 SF
      1081 Pendant NW Ln, Rochester, MN 55901-6772
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      131,752 SF

      Rochester Retail Institution For Sale

      Grocery-anchored shopping center near Mayo Clinic with strong tenant mix.
      1315 6Th St NW, Rochester, MN 55901
      View Details
    • $2,750,000
      5,860 SF

      Operating C-Store For Sale

      Operating convenience store property available for purchase.
      3225 40Th Ave NW, Rochester, MN 55901
      View Details
    • $875,000
      2,566 SF

      Corner Lot in Lowertown District

      Redevelopment opportunity near Mayo Clinic and downtown Rochester.
      11 5Th St NW, Rochester, MN 55901
      View Details
    • $10,370,000
      22,362 SF

      Rochester Retail Center Investment

      High-traffic retail center, strong anchors.
      3780 Marketplace Dr, Rochester, MN 55901
      View Details
    • Contact for pricing
      1.50 Acres

      Rochester Development Opportunity

      Prime retail, multifamily land. Shovel-ready Fall 2024.
      55th 18Th Ave, Rochester, MN 55901
      View Details
    • $6,500,000
      4.04 Acres

      Rochester MN Hotel Opportunity

      Centrally located Rochester, MN hotel near Mayo Clinic.
      435 16Th Ave NW, Rochester, MN 55901
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      2,520 SF

      Retail Space in Lowertown District

      Standalone commercial building in Rochester's thriving Lowertown retail district.
      608 7Th St NW, Rochester, MN 55901
      View Details
    • $19 SF/Yr
      5,481 SF

      Turn-Key Retail Space Available

      Retail space in a busy shopping hub near Highway 52.
      24-44 17Th Ave NW, Rochester, MN 55901
      View Details
    • $14 SF/Yr
      4,927 SF

      Prime Retail Space For Lease

      High-visibility retail space in a busy commercial corridor.
      4200-4224 Highway 52 NW, Rochester, MN 55901
      View Details
    • $19 SF/Yr
      9,543 SF

      Rochester Retail Space For Rent

      Commercial property near Mayo Clinic with high traffic and visibility.
      102-170 17Th Ave NW, Rochester, MN 55901
      View Details
    • $12 SF/Yr
      22,960 SF

      Retail Space in Cedarwood Mall

      End-cap retail space in high-traffic Rochester shopping center.
      4100 18Th Ave NW, Rochester, MN 55901
      View Details
    • $30 SF/Yr
      4,829 SF

      Retail Space Available For Rent

      Retail space available for lease in Rochester, MN.
      2665 Commerce Dr NW, Rochester, MN 55901
      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.
    407 2Nd Ave NW
    Rochester, MN 55902
    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.