Renovated Multi-Tenant Retail
For Sale
$2,700,000
103 Homestead Road, Mankato, MN 56001
Multi-tenant property anchored by Fraser, with a new seven-year lease and two five-year renewal options.
Property Size18,586 SF
Price / SF$145.27
Days on Market8
Property Features for 103 Homestead Road
General Information
Standard status
Active
Size
18,586 SF
Property subtype
Retail
Additional Details
Anchor Co-Tenants
Fraser
Building Details
Tenancy
Multi
Listed By:
AJ Prins
(612) 336-4322
Source:
Cbre
Added: Sep 16
Changed: Sep 22
Last Checked: Sep 22 at 2:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AJ Prins
Investment Insights
Based on property information with market context.
This 18,586-square-foot multi-tenant retail property in Mankato includes a newly renovated facility leased to Fraser and an additional 4,636-square-foot leased area occupied by Rent MSU. More than $500,000 in capital improvements were completed to support Fraser’s occupancy, creating an updated configuration with separate tenant spaces.
Fraser’s lease has an initial seven-year term, scheduled annual rent increases, two five-year renewal options, and reimbursement of most operating expenses, including real estate taxes, insurance, and maintenance. The lease also provides for a 5% administrative fee on base rent and additional expense reimbursements.
The remaining space offers flexibility for repositioning, renovation, or re-tenanting. The property serves Mankato and the broader Southern Minnesota region, with Fraser using the facility as a satellite location for autism and early childhood mental health services.
Fraser’s lease has an initial seven-year term, scheduled annual rent increases, two five-year renewal options, and reimbursement of most operating expenses, including real estate taxes, insurance, and maintenance. The lease also provides for a 5% administrative fee on base rent and additional expense reimbursements.
The remaining space offers flexibility for repositioning, renovation, or re-tenanting. The property serves Mankato and the broader Southern Minnesota region, with Fraser using the facility as a satellite location for autism and early childhood mental health services.
Key Highlights
- 18,586‑square‑foot multi‑tenant retail property
- Newly renovated Fraser facility supported by more than $500,000 in capital improvements
- Fraser lease features an initial 7‑year term and two 5‑year renewal options
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 42%
Hotels & Casinos 3%
Kwik Trip
Shops & Services
39,398 visits/mo
0.3 miles
Noodles & Company
Dining
13,331 visits/mo
0.4 miles
Chipotle Mexican Grill
Dining
10,146 visits/mo
0.4 miles
Caribou Coffee
Dining
7,941 visits/mo
0.4 miles
Cold Stone Creamery
Dining
6,316 visits/mo
0.4 miles
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Multi-tenant property anchored by Fraser, with a new seven-year lease and two five-year renewal options.
Where is this retail space located?
The property is located at 103 Homestead Road Mankato, MN.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 18,586‑square‑foot multi‑tenant retail property; Newly renovated Fraser facility supported by more than $500,000 in capital improvements; Fraser lease features an initial 7‑year term and two 5‑year renewal options
