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    Premier Shopping Center in Mankato Title is generated by Realmo AI

    1850 Adams St Suite 614, Mankato, MN 56001

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    Premier shopping center serving Southern Minnesota and Northern Iowa.

    Type:Retail
    Added:
    Nov 15, 2023
    Days on Market:
    918
    Last Refresh:
    May 12 at 9:33 pm

    Property Features for 1850 Adams St Suite 614

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1991

    Spaces For Lease

    at 1850 Adams St Suite 614 Contact us

    River Hills Mall Suite 614 $1.00/Mo

    Size
    739 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Dain Fisher
    Dain Fisher

    Listing agent Dain Fisher License #40771513

    Listing office Coldwell Banker Commercial Fisher Group

    Listing date Nov 15, 2023

    Source Crexi

    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 Coldwell Banker Commercial Fisher Group

    HighLights

    • Premier shopping center serving Southern Minnesota and Northern Iowa.
    • Strong anchor stores include Barnes & Noble, JCPenney, Scheels, and Target.
    • Impressive lineup of retailers including H&M, American Eagle Outfitters, Buckle, Kay Jewelers, Dry Goods, and Aerie.
    • Located at the intersection of HWY 22 & 14 with high traffic, excellent visibility, and convenient access.
    • Serves a regional area (Greater Mankato) of 287,175 people.
    • Features an eight‑screen Cinemark movie complex, a carousel, food court, and play area.

    Overview

    River Hills Mall is a shopping center serving Southern Minnesota and Northern Iowa. Anchor stores include Barnes & Noble, JCPenney, Scheels, and Target. The mall also features retailers such as H&M, American Eagle Outfitters, Buckle, Kay Jewelers, Dry Goods, and Aerie. An eight-screen Cinemark movie complex, a turn-of-the-century carousel, the food court and the Mayo Clinic Health System Play Area are also located within the mall. The mall is positioned as a family-friendly destination for the community. Mankato is home to Minnesota State University, Mankato, and has an economy supported by agriculture and agribusiness, healthcare, manufacturing, retail, and higher education. The Mankato-North Mankato MSA includes Blue Earth and Nicollet counties. The 2020 census shares the MSA has a population of 103,566, yet there is a bigger draw to Greater Mankato. The regional area of Greater Mankato is the hub for 287,175 people. Through retail and healthcare employment, 163,591 people ages 16 and older have a 45-minute drive time to Mankato. The River Hills Mall sits at the intersection of HWY 22 & 14, and has high traffic, visibility, and access. It is surrounded by new growth and businesses and is the main hub and a major tourist attraction in Mankato.
    Location Intelligence

    Current Use by Public Records

    francesca's Clothing & Fashion Store Hot Topic Clothing Store Aéropostale Clothing Store H&M Clothing Store Ragstock Clothing Store

    Suggested Use

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

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

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    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.954346
    Latitude
    44.169922

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    FAQs

    What type of property is this?
    Shopping center - Premier shopping center serving Southern Minnesota and Northern Iowa.
    Where is this shopping center located?
    The property is located at 1850 Adams St Suite 614 Mankato, MN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Premier shopping center serving Southern Minnesota and Northern Iowa.; Strong anchor stores include Barnes & Noble, JCPenney, Scheels, and Target.; Impressive lineup of retailers including H&M, American Eagle Outfitters, Buckle, Kay Jewelers, Dry Goods, and Aerie.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dain Fisher
    Dain Fisher
    Real Estate License ID: 40771513
    Learn More
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    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.

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