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    821 Riverfront Dr Mankato, MN 56001

    Sponsored
    For Sale
    $650,000

    High-visibility corner lot, redevelopment potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 0.5-acre retail pad, located at the highly visible corner of Madison Avenue and Riverfront Drive in Mankato, Minnesota, presents a rare redevelopment opportunity. Situated in Blue Earth County, zip code 56001 (latitude 44.174423, longitude -93.9954371), this property boasts an unparalleled location with 28,000 vehicles per day passing by. Last sold in 1995, this is a chance to acquire a prime piece of Mankato real estate. The lot offers convenient direct street and alley access, enhancing its functionality and appeal. While currently a smaller lot, there's significant potential for expansion, with the possibility of adding an additional 10,000 square feet. Adding to its value is a currently generating billboard income stream. This property is ideal for developers seeking a high-traffic location with substantial growth potential. The asking price for this unique opportunity is $650,000. Don't miss this chance to own a piece of Mankato's vibrant commercial landscape.

    Property Features for 821 Riverfront Dr

    General Information

    Property type
    Individual retail properties

    HighLights

    • High‑visibility corner lot at Madison Ave and Riverfront Drive, Mankato, MN, offering redevelopment potential.
    • 0.5‑acre lot with potential for a 10,000 SF expansion.
    • Rarely available property; last sold in 1995.
    • High traffic count with 28,000 vehicles per day (VPD) on nearby roads.
    • Convenient direct street and alley access.
    • Generates income from an existing billboard.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gerring's Auto Detailing Car Wash

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9954371
    Latitude
    44.174423

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    FAQs

    What type of property is this?
    Individual retail property - High-visibility corner lot, redevelopment potential.
    Where is this individual retail property located?
    The property is located at 821 Riverfront Dr Mankato, MN.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: High-visibility corner lot at Madison Ave and Riverfront Drive, Mankato, MN, offering redevelopment potential.; 0.5-acre lot with potential for a 10,000 SF expansion.; Rarely available property; last sold in 1995.
    (507) 317-2353
    Request Owner's contact information
    821 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
    821 Riverfront Dr Mankato, MN 56001
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