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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

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).
More about this property
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