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

    Rochester, MN 55902

    • Commercial real estate
    • 9,653 SF
    • 1.57 lot acres
    OFF-MARKET
    Last Sale
    Jan 05, 2022
    $1,500,000
    Value Estimations
    $1,450,000
    Show details
    Cap Rate Potential
    6.8%
    Commercial real estate
    Location Intelligence
    Property ID
    US46-1477072
    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

    • Commercial real estate

    Property Details

    Year built
    1994
    Lot size
    1.57 lot acres
    Property size
    9,653 SF
    Property type
    Commercial real estate
    APN
    64.23.42.056380
    APU
    642342056380

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,400,000
      ML approach
      $1,375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,595,000
      6.5%
      $1,475,000
      7%
      $1,370,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,525,000
      Current use
      RESTAURANT
      $1,690,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $1,550,000
      Change: +2% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,525,000
      Change: -0% Conversion: Difficult
      OFFICE BUILDING
      $1,515,000
      Change: -1% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Olmsted
    State
    Minnesota
    Longitude
    -92.4676
    Latitude
    43.9679
    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
    $25,466
    $136,500
    $285,300
    $421,800
    -
    $136,500
    $285,300
    $421,800

    Comparable in this City

    • Value Estimation by Request
      174,020 SF

      511 3Rd Ave

      Retail properties • 174,020 SF
      511 3Rd Ave, Rochester, MN 55902
      View Details
    • Value Estimation by Request
      1,716 SF

      23 2nd SW St

      COMMERCIAL (GENERAL) • 1,716 SF
      23 2nd SW St, Rochester, MN 55902-3017
      View Details
    • Value Estimation
      $500,000
      2,960 SF

      3902 Commerce SW Ct

      COMMERCIAL (GENERAL) • 2,960 SF
      3902 Commerce SW Ct, Rochester, MN 55902-1252
      View Details
    • Value Estimation
      $665,000
      5,960 SF

      1915 Greenview SW Pl

      COMMERCIAL (GENERAL) • 5,960 SF
      1915 Greenview SW Pl, Rochester, MN 55902-4337
      View Details
    • Value Estimation
      $505,000
      4,240 SF

      106 16th SW St

      COMMERCIAL (GENERAL) • 4,240 SF
      106 16th SW St, Rochester, MN 55902-2149
      View Details
    • Value Estimation by Request
      2,389 SF

      1827 2nd SW St

      COMMERCIAL (GENERAL) • 2,389 SF
      1827 2nd SW St, Rochester, MN 55902
      View Details

    Similar Nearby for Sale

    • $3,296,927
      7.96 Acres

      Rochester Residential Land - 7.96 Acres

      Prime Rochester land, ideal for development
      0 Berkshire Rd, Rochester, MN 55902
      View Details
    • $3,750,000
      11,992 SF

      Rochester Office Building For Sale

      Office building with 11,992 square feet of space.
      2200 2Nd St SW, Rochester, MN 55902
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    • $3,811,560
      46,600 SF

      Industrial Buildings in South Rochester

      Two industrial buildings suitable for manufacturing, assembly, and storage.
      401 20Th St SE, Rochester, MN 55902
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    • $1,900,000
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      Versatile Commercial Property Near Downtown

      Adaptable space suitable for retail, warehouse, or mixed-use ventures.
      407 2Nd Ave NW, Rochester, MN 55902
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    • $430,000
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      Residential Land in Royal Oaks

      8.54 acre residential land in Rochester, Minnesota.
      L2b4 Royal Oaks Farm Ln SW, Rochester, MN 55902
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    • $445,000
      Pending

      Land in Royal Oaks Farm

      Land featuring wooded and meadow lots in Royal Oaks Farm.
      L17b4 Royal Oaks Ln SW, Rochester, MN 55902
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    Similar Nearby for Lease

    • $25 SF/Yr
      665,268 SF

      Berkman Office/Retail Space Available

      Prime Rochester, MN location. Flexible spaces, high visibility.
      217 14Th Ave, Rochester, MN 55902
      View Details
    • $8 SF/Yr
      6,039 SF

      Rochester Office Space for Lease

      Flexible Workspaces in Prime Location
      318 1St Ave, Rochester, MN 55902
      View Details
    • $12 SF/Yr
      111,412 SF

      Crossroads Shopping Center: Rochester, MN

      Prime Retail Space, 3 Buildings, High Visibility
      1201 Broadway Ave, Rochester, MN 55902
      View Details
    • $22 SF/Yr
      3,000 SF

      Warehouse and Land For Rent

      3,000 SF warehouse with 2.73 acres of land.
      7004 11Th Ave SW, Rochester, MN 55902
      View Details
    • $25 SF/Yr
      2,724 SF

      Downtown Mixed-Use Space Available

      Versatile 2,724 sq ft space in thriving downtown area.
      217 14Th Ave SW, Rochester, MN 55902
      View Details
    • $10 SF/Yr
      2,580 SF

      Prime Retail Space, 11th Ave SW

      Downtown Retail Space - Available Now
      101 11Th Ave, Rochester, MN 55902
      View Details
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    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
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