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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6047 Rome NW Cir Rochester, MN 55901-4856

    • Office buildings
    • 9,240 SF
    • 1.21 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2020
    $1,030,000
    Value Estimations
    $1,075,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1808624
    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

    • Paveman Coatings / Flooring Contractor / Concrete Contractor

    Property Details for 6047 Rome NW Cir

    Year built
    2017
    Lot size
    1.21 lot acres
    Property size
    9,240 SF
    Property type
    Office buildings
    APN
    74.09.24.076223
    APU
    740924076223

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,310,000
      ML approach
      $1,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $879,000
      Market price range: $879k - $2.01M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,450,000
      Current use
      RESTAURANT
      $1,615,000
      Change: +12% Conversion: Moderate
      RETAIL STORES
      $1,485,000
      Change: +3% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,460,000
      Change: +1% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,460,000
      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
    -92.5123
    Latitude
    44.0899
    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
    $28,624
    $209,900
    $550,200
    $760,100
    -
    $209,900
    $550,200
    $760,100

    Comparable in this City

    • Value Estimation
      $555,000
      53.73 Acres

      2800 37th NW St

      OFFICE BUILDING • 53.73 Acres
      2800 37th NW St, Rochester, MN 55901-4441
      View Details
    • Value Estimation
      $2,470,000
      16,848 SF

      2600 19th NW St

      OFFICE BUILDING • 16,848 SF
      2600 19th NW St, Rochester, MN 55901-0767
      View Details
    • Value Estimation
      $8,185,000
      61,296 SF

      3535 40th NW Ave

      OFFICE BUILDING • 61,296 SF
      3535 40th NW Ave, Rochester, MN 55901-1768
      View Details
    • Value Estimation
      $4,140,000
      33,696 SF

      3777 40th NW Ave

      OFFICE BUILDING • 33,696 SF
      3777 40th NW Ave, Rochester, MN 55901-3296
      View Details
    • Value Estimation
      $1,595,000
      10,174 SF

      3720 Nottingham NW Dr

      OFFICE BUILDING • 10,174 SF
      3720 Nottingham NW Dr, Rochester, MN 55901-3199
      View Details
    • Value Estimation
      $1,350,000
      8,388 SF

      2621 Superior NW Dr

      OFFICE BUILDING • 8,388 SF
      2621 Superior NW Dr, Rochester, MN 55901-8350
      View Details

    Similar Nearby for Sale

    • $6,300,000
      40,799 SF

      Rochester Office Building For Sale

      40,799 SF office building on 4.95 acres available.
      5720 Bandel Rd NW, Rochester, MN 55901
      View Details
    • Contact for pricing
      169,843 SF

      Valley High Business Center

      Office buildings portfolio sale in Rochester, Minnesota.
      3435 40Th Ave NW, Rochester, MN 55901
      View Details
    • Contact for pricing
      35,006 SF

      Modern Rochester Office Sublease

      Prime NW Rochester office space, move-in ready.
      3555 9Th St, Rochester, MN 55901
      View Details
    • Contact for pricing
      25,727 SF

      Modern Office Space in Rochester

      Versatile office space in a rapidly growing Rochester sector.
      3038 Jeremiah Ln NW, Rochester, MN 55901
      View Details
    • Contact for pricing
      9,932 SF

      Prime Rochester Office Space

      9,932 sq ft Office, 3.39 Acres
      3900 Fairway Pl, Rochester, MN 55901
      View Details
    • Contact for pricing
      4,734 SF

      Rochester Office Building Investment

      Fully leased, 4,734 sq ft office building.
      2660 Superior Dr, Rochester, MN 55901
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      9,920 SF

      Adaptable Office/Industrial Space For Lease

      9,207 SF office building with flexible layout in Rochester, MN.
      3416 Lakeridge Pl NW, Rochester, MN 55901
      View Details
    • $23 SF/Yr
      1,252 SF

      Downtown Rochester Office Space

      1252 sq ft Office, Coworking Ready
      1202-1/2 7Th St, Rochester, MN 55901
      View Details
    • $18 SF/Yr
      37,979 SF

      Modern Office Space in Rochester

      Premier office spaces with modern facilities in a thriving location.
      975 34Th Avenue Ct Northwest, Rochester, MN 55901
      View Details
    • $27 SF/Yr
      975 SF

      Retail/Office Space with Private Entrance

      975 sqft retail or office space with front-door parking.
      5231 E Frontage Rd, Rochester, MN 55901
      View Details
    • Contact for pricing
      3,100,000 SF

      Rochester Tech Campus: Prime Space Available

      Multi-use industrial campus; large spaces available.
      2900 37Th St, Rochester, MN 55901
      View Details
    • $18 SF/Yr
      2,852 SF

      Remodeled Office Space Available

      Newly remodeled office space with reception, conference room, and offices.
      1610 14Th St 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.
    6047 Rome NW Cir
    Rochester, MN 55901-4856
    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.