Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    220 E Main St Mankato, MN 56001

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $15 SF/Yr ($18,402 /Mo)

    Professional office space in downtown Mankato with high visibility.

    Property size:
    14,722 SF
    Lot size:
    14,722 SF

    Property Features for 220 E Main St

    General Information

    Size
    14,722 SF

    Building Details

    Year built
    1949
    Source: Naiglobal

    Listing Agent: David Schooff

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

    Overview

    Updated Office Space in Mankato

    Midtown Square provides updated professional office space with established tenants, including USPS, a dental practice, and home health services. The property is located at the corner of Main and Second Streets in downtown Mankato, Minnesota, near the US-169 downtown exit, at the base of the bridge from US Hwy 169. The location offers proximity to downtown amenities and attractions. The property benefits from high visibility and easy access, situating businesses within a dynamic urban hub. The surrounding area is downtown Mankato’s business community, which supports growth and innovation for local and national businesses. The property contains 14,722 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Douglas S. Vose, ... Dentist Midtown Stylists Beauty Salon George J. Lach ... Optometrist Eiselt Tracye OD Optometrist Electrical Consultants, Inc. Engineering Consultant

    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
    Nicollet
    State
    Minnesota
    Longitude
    -94.001114
    Latitude
    44.166751

    Nearby Similar for Lease

    • New
      $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
    • $8 SF/Yr

      Prime Retail Space in Mankato

      Located in downtown Mankato with high traffic and accessibility.
      615 S Front St, 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
    • $995,000
      4,818 SF

      Turnkey Childcare Facility in Mankato

      Ready-to-operate daycare facility in Mankato's Hilltop district.
      1720 Basset Dr, Mankato, MN
      View Details
    • $15 SF/Yr
      115,875 SF

      Repurposed Entertainment and Restaurant Hub

      Family entertainment and restaurant hub with diverse leasing options.
      1850 Madison Ave, Mankato, MN 56001
      View Details
    • $9 SF/Yr
      75,813 SF

      Flexible Office Space Available

      Office suites available in professionally managed business development center.
      1961 Premier Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      5,852 SF

      QSR/Cafe End Cap Retail

      Prime retail opportunity with maximum exposure and accessibility.
      511 Holly Ln, Mankato, MN 56001
      View Details
    • $10 SF/Yr
      331,604 SF

      Madison East Center Retail Space

      Repurposed retail property with medical-retail focus, office and retail spaces.
      1400 Madison Ave, 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
      309,507 SF

      Mankato Industrial Space For Lease

      Industrial space with tall ceilings, multiple doors, and loading docks.
      2415 3Rd Ave, Mankato, MN 56001
      View Details
    • $220 SF/Yr
      3,300 SF

      Mankato Office Space for Nonprofits

      Office space in Mankato for nonprofit tenants only.
      212 E Walnut St, Mankato, MN 56001
      View Details

    FAQs

    What type of property is this?
    Office space - Professional office space in downtown Mankato with high visibility.
    Where is this office space located?
    The property is located at 220 E Main St Mankato, MN.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: - High visibility location at the base of the bridge from US Hwy 169; - Recently updated professional office space; - Established tenants including USPS, dental practice, and home health services
    (507) 380-7340
    Request Owner's contact information
    220 E Main 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.
    220 E Main 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.

    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
    220 E Main 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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.