Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Remodeled Shop Space For Lease Title is generated by Realmo AI

    340 Pierce Ave, North Mankato, MN 56003

    View on Map
    Claim this Listing
    For Lease
    $12 SF/Yr

    COMMERCIAL - North Mankato, MN

    Added:
    Apr 16, 2026
    Days on Market:
    42
    Last Refresh:
    May 27 at 8:06 am

    Property Features for 340 Pierce Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Interior features
    Restrooms
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    188890010

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    Block 1 Lot 1 SubdivisionCd 18889 SubdivisionName WACH-A-DUE SUBD
    Tax Annual Amount
    15242

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1969
    Roof type
    Metal

    We can help!

    Listing Contact
    Jay Sallstrom

    Listing agent Jay Sallstrom License #40466159

    Listing office RE/MAX Results 11200 W 78th Street, Mankato, MN

    Listing date Apr 16, 2026

    MLS# 7039977

    Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Immediate access to Hwy 169 and Hwy 14
    • Fully remodeled with all‑new finishes throughout
    • Heated and air‑conditioned shop and office areas
    • 12' overhead door
    • 5+ off‑street parking stalls
    • Private office

    Overview

    This shop space for lease is located in lower North Mankato, providing immediate access to Hwy 169 and Hwy 14. The property has been fully remodeled with new finishes throughout. It features heated and air-conditioned shop and office areas, a 12' overhead door, two service doors, a restroom, and additional attic storage. The property includes 5+ off-street parking stalls and is available immediately. Tenant is subject to credit and background screening.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    North Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -94.009752
    Latitude
    44.18031

    Nearby Similar for Lease

    • $6,875/Mo
      30,000 SF

      Prime Commercial Space, Highway Visibility

      Premier commercial space with high visibility and build-to-suit options.
      340 Webster Avenue, North Mankato, MN 56003
      View Details
    • $6,997/Mo
      30,000 SF

      Prime Commercial Space on Highway

      Premier commercial space with high visibility and build-to-suit options.
      340 Webster Avenue, North Mankato, MN 56003
      View Details
    • $6,295/Mo
      8,067 SF

      Prime Commercial Space on Highway

      Premier commercial space with high visibility and customizable options.
      340 Webster Avenue, North Mankato, MN 56003
      View Details
    • $7 SF/Yr
      2,500 SF

      Industrial Suite with Office Components

      High-visibility industrial space with warehouse and office, ideal for operations.
      2120 Howard Dr , North Mankato, MN 56003
      View Details
    • $15,000/Mo

      Mixed-Use Property, North Mankato

      Modern retail space plus five luxury apartments in North Mankato.
      235-237 Belgrade Avenue, North Mankato, MN 56003
      View Details
    • $1,106/Mo
      1,106 SF

      North Mankato Retail/Office Space

      1,106 SF retail or office space in North Mankato.
      1806 Commerce Drive, North Mankato, MN 56003
      View Details
    • $12 SF/Yr
      1,106 SF

      Retail/Office Space in North Mankato

      Retail or office space available in North Mankato location.
      1802-1838 Commerce Dr, North Mankato, MN
      View Details
    • Contact for pricing
      3,456 SF

      Prime Commercial Space for Lease

      Premier commercial project with high visibility and customizable space.
      1109-1111 Range St, North Mankato, MN
      View Details

    FAQs

    What type of property is this?
    Retail space - Remodeled shop space with office, immediate highway access, parking.
    Where is this retail space located?
    The property is located at 340 Pierce Ave North Mankato, MN.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Immediate access to Hwy 169 and Hwy 14; Fully remodeled with all‑new finishes throughout; Heated and air‑conditioned shop and office areas
    (507) 380-4791
    We can help!
    Listing Contact
    Jay Sallstrom
    Real Estate License ID: 40466159
    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

    Thank You for Inquiry
    340 Pierce Ave, North Mankato, MN 56003
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!