Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    545 State Ave Owatonna, MN 55060-2295

    • Apartment buildings
    • 6,080 SF
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-2242880
    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

    • Apartment buildings

    Property Details for 545 State Ave

    Year built
    1931
    Property size
    6,080 SF
    Property type
    Apartment buildings
    APN
    17-290-0205
    APU
    172900205

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $394,000
      Market price range: $248k - $602k

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

    Location Insight

    • Map
    • Local Demand
    City
    Owatonna
    County
    Steele
    State
    Minnesota
    Longitude
    -93.236
    Latitude
    44.0906
    CBSA code
    36940
    CBSA name
    OWATONNA, MN MICROPOLITAN 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
    $9,726
    $80,200
    $453,900
    $534,100
    -
    $80,200
    $453,900
    $534,100

    Comparable in this City

    • Value Estimation
      $530,000
      4,320 SF

      1830 Hartle Ave

      APARTMENT HOUSE (5+ UNITS) • 4,320 SF
      1830 Hartle Ave, Owatonna, MN 55060-4490
      View Details
    • Value Estimation
      $790,000
      43,056 SF

      2480 Saint Paul Rd

      APARTMENT HOUSE (5+ UNITS) • 43,056 SF
      2480 Saint Paul Rd, Owatonna, MN 55060-2455
      View Details
    • Value Estimation
      $695,000
      7,905 SF

      285 Cedardale SE Dr

      APARTMENT HOUSE (5+ UNITS) • 7,905 SF
      285 Cedardale SE Dr, Owatonna, MN 55060-4425
      View Details
    • Value Estimation
      $265,000
      4,268 SF

      595 Adams NW Ave

      APARTMENT HOUSE (5+ UNITS) • 4,268 SF
      595 Adams NW Ave, Owatonna, MN 55060-2286
      View Details
    • Value Estimation
      $435,000
      12,224 SF

      325 Cedardale SE Dr

      APARTMENT HOUSE (5+ UNITS) • 12,224 SF
      325 Cedardale SE Dr, Owatonna, MN 55060-4492
      View Details
    • Value Estimation
      $6,825,000
      72,822 SF

      1212 Frontage Rd

      APARTMENT HOUSE (100+ UNITS) • 72,822 SF
      1212 Frontage Rd, Owatonna, MN 55060-5692
      View Details

    Similar Nearby for Sale

    • New
      $388,900
      0.12 Acres

      Owatonna Commercial Building with Apartments

      Well-maintained commercial building with retail space and residential apartments.
      315 N Cedar Ave, Owatonna, MN 55060
      View Details
    • $442,500
      4,792 SF

      Owatonna 7-Unit Apartment Building

      Historic Charm, Excellent Cash Flow
      717 Cedar Ave, Owatonna, MN 55060
      View Details
    • $425,000

      Light-Filled Townhome with Quality Finishes

      Tastefully finished townhome with flowing floor plan and natural privacy.
      2065 Raspberry Ridge Pl NE, Owatonna, MN 55060
      View Details
    • $354,900
      1,511 SF

      Immaculate Two-Bedroom Townhome

      Like-new, single-level townhome with heated garage and modern finishes.
      2882 Meadowview Ln NE, Owatonna, MN 55060
      View Details
    • $450,000
      0.98 Acres

      Owatonna Office Redevelopment Site

      Prime 0.98-acre site, ideal for redevelopment.
      1930 Cedar Ave, Owatonna, MN 55060
      View Details
    • Contact for pricing
      19,300 SF

      Prime Owatonna Industrial Property

      19,300 SF Warehouse on 1.98 Acres
      600 Hoffman Dr, Owatonna, MN 55060
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,800 SF

      Retail Space in Downtown Owatonna

      Retail space available in Owatonna's new downtown development.
      207-211 N Cedar Ave, Owatonna, MN 55060
      View Details
    • $14 SF/Yr
      1,785 SF

      Retail Space in High Traffic

      Retail space available in high-traffic Owatonna shopping center.
      2350 43Rd St NW, Owatonna, MN 55060
      View Details
    • $17 SF/Yr
      1,374 SF

      Owatonna Retail & Office Space

      1374 sq ft, prime location, high traffic.
      1100 Frontage Rd, Owatonna, MN 55060
      View Details
    • $8 SF/Yr
      69,971 SF

      Owatonna Flex Space Available

      Modern Flex Space, 6,400 SF Available
      1010 Hoffman Dr, Owatonna, MN 55060
      View Details
    • Contact for pricing

      Owatonna Warehouse Space Available

      Warehouse space available for lease in Owatonna, Minnesota.
      3350 Park Dr, Owatonna, MN 55060
      View Details
    • Contact for pricing
      19,300 SF

      Owatonna Warehouse Space For Lease

      Versatile warehouse space, multiple units available.
      600 Hoffman Dr, Owatonna, MN 55060
      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.
    545 State Ave
    Owatonna, MN 55060-2295
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.