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

    1541 Madison Ave Mankato, MN 56001

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Net leased Mister Car Wash in Mankato's primary retail corridor.

    Property Features for 1541 Madison Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Sean Doyle
    Source: Cbre

    Listing Agent: Sean Doyle

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

    Learn more

    Overview

    Mister Car Wash Investment Opportunity

    This property in Mankato, MN, is a recently developed, absolute net leased asset. It is ground leased to Mister Car Wash, a publicly traded company (NASDAQ: MCW) with a market capitalization of $2.26B and over 500 locations, making it the largest car wash operator in North America. The lease has 13.5 years of term remaining and is corporately guaranteed. The property is located in the center of a dense retail corridor on Madison Avenue, which features numerous national retailers including Sam’s Club, Walmart, Target, and Aldi. Mankato is the county seat of Blue Earth County and home to Minnesota State University, the second largest university in the State of Minnesota, with an enrollment exceeding 15,000 students. Mankato is located in south-central Minnesota, approximately 80 miles southwest of the Twin Cities. The city serves as a regional hub for commerce, education, and healthcare. There are no direct national competitors in the trade area.
    Location Intelligence

    Current Use by Public Records

    Mister Car Wash Car Wash

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.968708
    Latitude
    44.166407

    Nearby Similar for Sale

    • $625,000
      8,208 SF

      Mankato Commercial Space For Sale

      8208 SF commercial space in Mankato's Contractors Park.
      1072 S Victory Dr, Mankato, MN 56001
      View Details
    • $1,199,000
      6,000 SF

      Victory Drive Commercial Opportunity

      Versatile commercial property with high visibility and income potential.
      219 S Victory Dr, Mankato, MN 56001
      View Details
    • $589,000
      0.59 Acres

      Mankato Office Space with Lake View

      Well-appointed office space with lake views and modern amenities.
      75 Teton Ln, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome

      Two-bedroom townhome in Siesta Hills community with luxury amenities.
      1046 Saba Blvd, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome

      Two-bedroom townhome in Siesta Hills community with luxury amenities.
      1042 Saba Blvd, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome

      Two-bedroom townhome in Siesta Hills community with luxury amenities.
      1048 Saba Blvd, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome

      Two-bedroom townhome in Siesta Hills community with luxury amenities.
      1040 Saba Blvd, Mankato, MN 56001
      View Details
    • $589,000
      3,256 SF

      New Construction Duplex Investment Opportunity

      New construction duplex in Mankato, ideal for investment portfolio.
      3200 Noble Dr, Mankato, MN 56001
      View Details
    • $589,000
      3,256 SF

      New Construction Duplex in Mankato

      New construction duplex, great investment, convenient location in Mankato, MN.
      3204 Noble Dr, Mankato, MN 56001
      View Details
    • $499,000

      Mankato Mixed-Use Commercial Property

      Versatile commercial property suitable for office and retail operations.
      1230 S Victory Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      6.22 Acres

      Mankato Retail Opportunities For Sale

      Prime retail spaces available in high-traffic Mankato location.
      201 N Victory Dr, Mankato, MN 56001
      View Details
    • Contact for pricing

      Prime Retail Space Near University

      Retail space near Minnesota State University with high visibility.
      1601 Monks Ave, Mankato, MN 56001
      View Details

    FAQs

    What type of property is this?
    Car wash - Net leased Mister Car Wash in Mankato's primary retail corridor.
    Where is this car wash located?
    The property is located at 1541 Madison Ave Mankato, MN.
    What are key features of this property?
    This property features: - Corporate guarantee from Mister Car Wash (NASDAQ: MCW), the largest car wash operator in North America; - Absolute net leased asset with 13.5 years of lease term remaining, offering a truly hands-off investment; - Located in the heart of the primary retail corridor on Madison Avenue in Mankato, a high-traffic area
    Request Owner's contact information
    1541 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.
    1541 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
    1541 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
    Sean Doyle
    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!