Add Listing
    For Lease
    • 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

    1400 Madison Ave Mankato, MN 56001

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $9 SF/Yr

    Repurposed retail property with medical-retail focus, office and industrial potential.

    Building Details

    Year built
    1968

    We can help!

    Listing Contact
    David Schooff
    David Schooff
    Source: Naiglobal

    Listing Agency: NAI North Star Listing Agent: David Schooff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Madison East Center Retail Space

    The Madison East Center is a repurposed retail property with a medical-retail focus, offering spaces for lease. It is known for professional leases and long tenure with established community leaders, including Mayo Clinic, Rasmussen, Mankato Clinic, and DaVita, along with other medical, retail, and human services tenants. The property offers retail to office/industrial spaces, with potential for small offices and junior-box configurations. Square footages range from 800 to over 19,000, depending on specific needs. The ownership group is creative, and professional management is available to help demise or create suitable spaces for various businesses. The Madison East Center is located on Madison Ave and North Victory Drive, next to one of the busiest retail intersections in Mankato, with a traffic count exceeding 30,000 vehicles per day. Victory Drive provides access to both Highway 14 and Mankato State University. The location is highly visible and situated within one of the highest medical/human services consumer bases in the region. The property benefits from over 30,000 vehicles per day, 1,500+ daily visitors and employees, professional 24/7 management, and an emphasis on medical-retail and human services, with private office to junior box potential.
    Location Intelligence

    Current Use by Public Records

    Amana General Electric ... Home Appliance Store Skin Essentials Medical Clinic Madison East Center Business Service Center Lauren R. Lefavor, ... Medical Clinic Dr. Eggert Delmer, ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.972171
    Latitude
    44.166955

    Nearby Similar for Lease

    • $22 SF/Yr
      1,355 SF

      Mankato Office Space For Lease

      Commercial suite in outstanding location with high traffic counts.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $17 SF/Yr
      1,355 SF

      Mankato Office Space For Lease

      Bright office suite with high visibility and functional layout available now.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $1,000 /Mo

      Retail Space in Mankato, MN

      Retail space available for rent in Mankato, Minnesota.
      412 Park Ln, Mankato, MN 56001
      View Details
    • $19 SF/Yr
      1,355 SF

      Professional Office Suite For Lease

      Bright office suite in high-traffic location with flexible layout.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $3,135 /Mo

      Professional Office Space Available

      Well-maintained Mankato office space with flexible floorplan options.
      44 Good Counsel Dr, Mankato, MN 56001
      View Details
    • $764 /Mo

      Mankato Office Suite for Nonprofits

      Single office suite in a collaborative, mission-driven environment.
      523 S 2Nd St, Mankato, MN 56001
      View Details
    • $2,500 /Mo

      Mankato Commercial Space For Lease

      Prime commercial space with high visibility and accessibility in Mankato.
      1230 S Victory Dr, Mankato, MN 56001
      View Details
    • $9 SF/Yr
      1,250 SF

      Mankato Retail/Office Space Available

      Commercial space in prime Mankato location suitable for retail/office.
      722-728 N Riverfront Dr, Mankato, MN 56001
      View Details
    • $14 SF/Yr
      3,450 SF

      Renovated Office Space Available

      Office spaces for lease in downtown Mankato's Hubbard Building.
      424 N Riverfront Dr, Mankato, MN 56001
      View Details
    • $11 SF/Yr
      1,250 SF

      Downtown Office Space For Rent

      Modern office space in the heart of downtown.
      200-210 E Walnut St, Mankato, MN 56001
      View Details
    • $12 SF/Yr
      1,360 SF

      Mankato Office Space For Rent

      Built-out office suites with views in Mankato's City Center.
      3 Civic Center Plz, Mankato, MN 56001
      View Details
    • $818 /Mo
      3,923 SF

      Emy Frentz Building Office Suite

      Single office suite for nonprofit tenants in downtown Mankato.
      523 S 2Nd St, Mankato, MN 56001
      View Details

    FAQs

    What type of property is this?
    Retail space - Repurposed retail property with medical-retail focus, office and industrial potential.
    Where is this retail space located?
    The property is located at 1400 Madison Ave Mankato, MN.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: - High Visibility Location: Located on Madison Ave and North Victory Drive, next to a busy retail intersection with 30,000+ vehicles per day.; - Established Medical-Retail Focus: Known for professional leases and long tenure with established community leaders like Mayo Clinic and Mankato Clinic.; - High Traffic: Benefits from 1,500+ daily visitors and employees.
    (507) 380-7340
    Request Owner's contact information
    1400 Madison Ave Mankato, MN 56001
    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.
    1400 Madison Ave
    Mankato, MN 56001
    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
    1400 Madison Ave Mankato, MN 56001
    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

    We can help!
    Listing Contact
    David Schooff
    David Schooff
    Real Estate License ID: #40137517
    (507) 380-7340 (507) 380-6627
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!