Three-Story Mixed-Use
For Sale
Contact for pricing
1633 Monks Ave, Mankato, MN 56001
Combines service-based retail with student housing and full apartment kitchens.
Property Size46,446 SF
Price / SF$165.78
Days on Market233
Property Features for 1633 Monks Ave
General Information
Standard status
Active
Size
46,446 SF
Property subtype
MULTIFAMILY
Additional Details
Anchor Co-Tenants
Qdoba, Subway
Amenities
full kitchen appliance set
in unit washer & dryer
air conditioning
free high speed wireless internet
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
CBRE - Minnesota
(952) 924-4600
Listed By:
Sean Doyle
(612) 720-3259
Source:
Moodyscre
Added: Feb 25
Changed: Oct 11
Last Checked: Oct 16 at 11:53AM
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 CBRE - Minnesota
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Investment Insights
Based on property information with market context.
This three-story mixed-use asset contains 46,446 square feet, including 12,327 square feet of main-floor retail and student housing for 69 beds. The retail component is occupied by service-oriented businesses, with Qdoba and Subway serving as anchors. Residential units feature open kitchens with center islands and tabletop bars, along with spacious bedrooms, large closets, and multiple bathrooms.
Apartment amenities include complete kitchen appliance packages, in-unit laundry, air conditioning, and high-speed wireless internet. The property is located one block from Minnesota State University Mankato, placing the student housing component close to the university campus while pairing it with an established retail offering.
Apartment amenities include complete kitchen appliance packages, in-unit laundry, air conditioning, and high-speed wireless internet. The property is located one block from Minnesota State University Mankato, placing the student housing component close to the university campus while pairing it with an established retail offering.
Key Highlights
- 46,446‑square‑foot, three‑story mixed‑use property
- 12,327 square feet of main‑floor retail space
- Student housing component with 69 beds
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$411,878
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,237,560
$8.2M
Cap Rate 7%
$5,883,971
$5.9M
Cap Rate 9%
$4,576,422
$4.6M
Market Conditions
NOI Build-Up for 46,446 SF
Gross rent
$641.0K $13.80/SF
− Vacancy
−$52.6K −$1.13/SF
EGI
$588.4K $12.67/SF
− OpEx
−$176.5K −$3.80/SF
NOI
$411.9K $8.87/SF
Area
Blue Earth County, MN
Vacancy
8.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,237,560
Cap Rate 7%
$5,883,971
Cap Rate 9%
$4,576,422
Alternative Uses
Best Use
Retail
$5.88M
$5.15M – $6.86M
NOI $411,878 @ 7.0% cap · market cap 5.35%
Second Best
Mixed Use
$5.82M
$5.09M – $6.79M
NOI $407,564 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$9.18M
$8.03M – $10.71M
NOI $642,582 @ 7.0% cap · market cap 8.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines service-based retail with student housing and full apartment kitchens.
Where is this mixed-use property located?
The property is located at 1633 Monks Ave Mankato, MN.
What is the asking price?
The asking price for this property is $7,700,000.
What are key features of this property?
This property features: 46,446‑square‑foot, three‑story mixed‑use property; 12,327 square feet of main‑floor retail space; Student housing component with 69 beds
