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Property profile & analytics
OFF-MARKET
Medical Office Space
723 2nd SW St Rochester, MN 55902-2921
Entity Owned
12-yr Hold
Free & Clear
Property ID
US46-1229095
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2015
Total area
7,966 SF
Lot
0.27 ac (11,805 SF)
APN
74.35.34.012844
UPID
US46-1229095
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 Dental Doctors Dental Office
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The Dental Doctors - Dr. Brandon Kelly Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Altaeast LLC · 12 yrs held
Altaeast LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$29,062
Tax year 2023
Assessed value
$683,100
Assessed 2021
Previous assessed
$683,100
+0.0% YoY
Effective rate
4.25%
On assessed value
Assessed land
$487,700
Assessed improvement
$195,400
Land market value
$487,700
Improvement market value
$195,400
Total market value
$683,100
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2015
Heating
CENTRAL
Cooling
REFRIGERATOR
Bathrooms
2
Total area
7,966 SF
Lot
0.27 ac (11,805 SF)
APN
74.35.34.012844
UPID
US46-1229095
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
Building & site characteristics
From public records
Year built
2015
Heating
CENTRAL
Cooling
Yes
Bathrooms
2
Lot
0.27 ac
Current owner
From public records · entity-resolved
Altaeast LLC
Entity
Free & Clear · 12 yrs held
Mailing address
1409 WOODLAND DR SW, ROCHESTER, MN 55902-1041
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2014
$470,000
Altaeast LLC
Curtis J Schuster
Warranty Deed
—
Jun 20, 2014
$425,000
Altaeast LLC
Weimer Michel Properties LLC
Warranty Deed
—
Jun 20, 2014
—
Altaeast LLC
Weimer Michel Properties LLC
Contract Sale
—
Jun 7, 2010
$425,000
Curtis J Schuster
Weimer Michel Properties LLC
Contract Sale
$355,000 · Weimer Michel Properties LLC
Feb 22, 2008
—
Weimer Michel Properties LLC
Mark W Weimer
Quit Claim 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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