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Property profile & analytics
FOR SALE
Retail space
219 S Victory Dr Mankato, MN 56001
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US46-1959478
For Sale
1 / 71
$1,199,000
219 S Victory Dr, Mankato, MN 56001
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Property summary
AI-generated overview
This exceptional commercial property at 219 S Victory Drive in Mankato, Minnesota, presents a unique investment opportunity. Boasting a total of 11,405 square feet, the property features a blend of retail, showroom, and warehouse space, ideal for a variety of businesses. The main building offers approximately 11,405 square feet of retail and showroom space, complete with two bathrooms, a kitchen, three offices, and ample storage. Parking is readily available, accommodating 20 or more vehicles. The high visibility location along Victory Drive provides excellent exposure, with an estimated 17,500 vehicles passing daily. A separate warehouse component adds approximately 4,833 square feet of functional space, equipped with eight overhead doors and partial heating. This versatile space is perfect for storage, distribution, or light manufacturing. The owner is flexible and open to various transaction structures, including an outright sale, a sale-leaseback arrangement, a full lease, or a partial lease option, providing considerable flexibility for potential buyers or tenants. The 0.82-acre lot offers ample space for expansion or future development. This property represents a compelling investment opportunity in a thriving Mankato location.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1968
Total area
11,405 SF
Lot
0.82 ac (35,719 SF)
APN
R01.09.17.432.020
UPID
US46-1959478
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
-
K T Designs-Karen Tetzloff Interior Design Home Decor Store
-
Brew N Wine Creations Big Box & Wholesale Store Specialty Food Shop
-
Independent Interiors (Formerly Independent Paint & Flooring) Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$920k
Owner & transaction history
G B Stevens Addition LLC · 2 yrs held
G B Stevens Addition LLC
since 2023
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.5M
+18.1%
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 Mankato submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mankato 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$1,235,000
Current use
OFFICE BUILDING
$1,460,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,070,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
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 2024Property tax & assessments
Tax year 2024
Tax billed
$27,202
Tax year 2024
Assessed value
$1,065,000
Assessed 2024
Previous assessed
$1,060,100
+0.5% YoY
Effective rate
2.55%
On assessed value
Assessed land
$142,900
Assessed improvement
$922,100
Land market value
$142,900
Improvement market value
$922,100
Total market value
$1,065,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1968
Heating
NONE
Buildings
2
Stories
1
Total area
11,405 SF
Lot
0.82 ac (35,719 SF)
APN
R01.09.17.432.020
UPID
US46-1959478
Jurisdiction
BLUE EARTH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
NONE
Stories
1
Buildings
2
Lot
0.82 ac
Current owner
From public records · entity-resolved
G B Stevens Addition LLC
Entity
Mailing address
219 S VICTORY DR, MANKATO, MN 56001-5329
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2023
—
G B Stevens Addition LLC
—
Deed
related
$230,000 · Progrowth Bank
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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