Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1119 Center St North Mankato, MN

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,200,000

    Warehouse with offices, refrigerated space, highway access, and industrial zoning.

    Type:INDUSTRIAL
    Property size:
    23,890 SF
    Lot size:
    1.86 Acres
    Added:
    Aug 20, 2025
    Days on Market:
    225
    Last Refresh:
    Mar 29 at 8:59 pm

    Property Features for 1119 Center St

    General Information

    Standard status
    Active
    Size
    23,890 SF
    Lot size
    1.86 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    James Halbur
    James Halbur

    Listing agent James Halbur License #40144147

    Listing office KW Commercial Midwest - Eagan

    Listing date Aug 20, 2025

    Source Moodyscre

    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 KW Commercial Midwest - Eagan

    Overview

    Spacious Warehouse with Refrigerated Space

    This is a wide open warehouse space featuring 6 private offices and a 4,200 square foot refrigerated space. The property benefits from easy access to Highway 69 and includes on-site parking. The zoning is industrial. The property was previously used as a brewery and has exhaust and drain systems in place. The refrigerated space is designed to maintain low moisture levels and extend the life of finished products. The total property size is 23,890 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • My Mankato Storage — 2400 9th Ave, Mankato, MN 56001
    • Midwest Building and Equipment/ Mankato — 1235 Range St, Mankato, MN 56001

    Location Insight

    • Map
    • Local Demand
    City
    North Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -94.0144
    Latitude
    44.1824

    Nearby Similar for Sale

    • $2,600,000

      Modern Mixed-Use Property For Sale

      Upscale retail space plus five luxury apartments in North Mankato.
      235 - 237 Belgrade Avenue, North Mankato, MN 56003
      View Details
    • $15,000

      Modern Mixed-Use Property

      Upscale retail space plus five luxury apartments in North Mankato.
      235 - 237 Belgrade Avenue, North Mankato, MN 56003
      View Details
    • $2,600,000

      Mixed-Use Property: Retail & Apartments

      Modern retail space plus five luxury apartments in North Mankato.
      235-257 Belgrade Avenue, North Mankato, MN 56003
      View Details
    • $750,000
      3,100 SF

      North Mankato Restaurant Opportunity

      Second-generation restaurant space with drive-through in high-traffic area.
      1745 Commerce Drive, North Mankato, MN 56003
      View Details
    • Contact for pricing
      10,100 SF

      Retail Redevelopment Site in Mankato

      High-visibility retail or redevelopment site in a prime location.
      1715 Commerce Dr, North Mankato, MN 56003
      View Details

    FAQs

    What type of property is this?
    Warehouse - Warehouse with offices, refrigerated space, highway access, and industrial zoning.
    Where is this warehouse located?
    The property is located at 1119 Center St North Mankato, MN.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 4,200 sf of rare refrigerated space ideal for temperature‑sensitive storage or cultivation.; Six private offices within the warehouse space.; Easy access to HWY 69.
    (507) 317-2353
    We can help!
    Listing Contact
    James Halbur
    James Halbur
    Real Estate License ID: 40144147
    Learn More
    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.
    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.
    Sign Up Successful!
    You now have access to more from Realmo!