Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1247 Range St Mankato, MN 56001

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Mankato retail space, 7 suites available.

    Lot size:
    25,000 SF

    Property Features for 1247 Range St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    25,000 SF

    Building Details

    Year Built
    2024

    Spaces For Lease

    at 1247 Range St, Mankato, MN 56001 Contact us

    We can help!

    Listing Contact
    David Schooff
    David Schooff

    Listing Agency: NAI North Star Listing Agent: David Schooff

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Axis Lofts offers exceptional retail opportunities in Mankato, Minnesota. This brand-new, 2024-built, mixed-use development boasts 25,000 square feet of commercial space situated on a 4-acre lot at 1247 Range St, Mankato, MN 56001. Seven individual suites are available, ranging from a minimum of 1,191 square feet to a maximum contiguous space of 6,656 square feet. Currently, 16,353 square feet are vacant, providing significant flexibility for businesses of various sizes. The property enjoys high visibility along Highway 169, a major Mankato thoroughfare, ideal for attracting customers. The building's design is suitable for both retail and office uses, with the potential to combine or divide spaces to meet specific tenant requirements. Tenant improvement allowances and incentives are negotiable. This vibrant location is complemented by the presence of over 50 market-rate apartment units within the same complex, creating a bustling and active environment. Located in Blue Earth County, this property presents a unique opportunity to establish a thriving business in a thriving community. The property is professionally managed, ensuring a smooth and efficient leasing experience.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Building Supply Big Box & Wholesale Store Auto Repair Shop Pharmacy Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -94.0132293
    Latitude
    44.1858113

    Nearby Similar for Lease

    • $22 SF/Yr
      1,355 SF

      Mankato Office Space For Lease

      Commercial suite in outstanding location with high traffic counts.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $17 SF/Yr
      1,355 SF

      Mankato Office Space For Lease

      Bright office suite with high visibility and functional layout available now.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $1,000 /Mo

      Retail Space in Mankato, MN

      Retail space available for rent in Mankato, Minnesota.
      412 Park Ln, Mankato, MN 56001
      View Details
    • $19 SF/Yr
      1,355 SF

      Professional Office Suite For Lease

      Bright office suite in high-traffic location with flexible layout.
      1650 Madison Ave, Mankato, MN 56001
      View Details
    • $3,135 /Mo

      Professional Office Space Available

      Well-maintained Mankato office space with flexible floorplan options.
      44 Good Counsel Dr, Mankato, MN 56001
      View Details
    • $9 SF/Yr
      1,250 SF

      Mankato Retail/Office Space Available

      Commercial space in prime Mankato location suitable for retail/office.
      722-728 N Riverfront Dr, Mankato, MN 56001
      View Details
    • $14 SF/Yr
      3,450 SF

      Renovated Office Space Available

      Office spaces for lease in downtown Mankato's Hubbard Building.
      424 N Riverfront Dr, Mankato, MN 56001
      View Details
    • $11 SF/Yr
      1,250 SF

      Downtown Office Space For Rent

      Modern office space in the heart of downtown.
      200-210 E Walnut St, Mankato, MN 56001
      View Details
    • $12 SF/Yr
      1,360 SF

      Mankato Office Space For Rent

      Built-out office suites with views in Mankato's City Center.
      3 Civic Center Plz, Mankato, MN 56001
      View Details
    • $818 /Mo
      3,923 SF

      Emy Frentz Building Office Suite

      Single office suite for nonprofit tenants in downtown Mankato.
      523 S 2Nd St, Mankato, MN 56001
      View Details
    • $15 SF/Yr
      4,000 SF

      Office Suite in Westwood Business Park

      Office suite with build-to-suit option in Mankato's Westwood Business Park.
      151 Saint Andrews Ct, Mankato, MN 56001
      View Details
    • Contact for pricing
      1,170 SF

      Renovated Office Space in Mankato

      Recently renovated office space in downtown Mankato's historic Hugo Building.
      530 N Riverfront Dr, Mankato, MN 56001
      View Details

    FAQs

    What type of property is this?
    Retail property - Prime Mankato retail space, 7 suites available.
    Where is this retail property located?
    The property is located at 1247 Range St Mankato, MN.
    What are key features of this property?
    This property features: New construction retail suites, 1,191-6,656 SF available, Mankato, MN.; Tenant improvement allowances negotiable; turnkey buildouts possible.; High-visibility location on Highway 169, Mankato/North Mankato.
    (507) 380-7340 Call to check price and availability
    Request Owner's contact information
    1247 Range St Mankato, MN 56001
    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.
    1247 Range St
    Mankato, MN 56001
    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
    1247 Range St Mankato, MN 56001
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Schooff
    David Schooff
    Real Estate License ID: 40137517
    (507) 380-7340 (507) 380-6627
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!