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    329 Riverfront Dr Mankato, MN 56001

    Sponsored
    For Sale
    $574,900

    Historic Mankato retail & apartments, 100% occupied.

    Property size:
    3,168 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 3-unit property located at 329 N Riverfront Dr, Mankato, MN 56001, in Blue Earth County. The property, built in 1891, boasts a total of 3,168 square feet and is currently 100% occupied, offering immediate cash flow. The ground floor features a thriving retail space, one of Mankato's longest-running coffee shops, operating under a modified gross lease with two years remaining on the current term. Upstairs, two one-bedroom apartments provide additional rental income. The building has a strong rental history with all tenants undergoing thorough background and credit checks. Significant interior improvements exceeding $150,000 have been made within the last decade. Recent upgrades include a new roof installed in 2020 and a brand-new air conditioning unit currently being added. This property offers a unique blend of historical charm and modern updates, presenting a compelling investment opportunity for a discerning buyer seeking a stable, income-generating asset with potential for future value-add improvements. The asking price is $574,900.

    Property Features for 329 Riverfront Dr

    General Information

    Property type
    Retail properties
    Square Feet
    3,168 SF

    Building Details

    Year Built
    1891
    Units
    3

    HighLights

    • 100% Occupancy with long rental history.
    • 3‑unit property in Mankato, MN.
    • New roof (2020).
    • New air conditioning unit.
    • Over $150,000 in interior improvements in the last 10 years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coffee Hag Coffee Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.999878
    Latitude
    44.1700313

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    FAQs

    What type of property is this?
    Retail property - Historic Mankato retail & apartments, 100% occupied.
    Where is this retail property located?
    The property is located at 329 Riverfront Dr Mankato, MN.
    What is the asking price?
    The asking price for this property is $574,900.
    What are key features of this property?
    This property features: 100% Occupancy with long rental history.; 3-unit property in Mankato, MN.; New roof (2020).
    (507) 380-6627
    Request Owner's contact information
    329 Riverfront Dr Mankato, MN 56001
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    Realmo Value Estimation

    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.

    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.

    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
    329 Riverfront Dr Mankato, MN 56001
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