Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2401 Riverfront Dr Mankato, MN 56001
    Back to Search
    Property profile & analytics

    2401 Riverfront Dr Mankato, MN 56001

    View on Map
    • Retail properties & Spaces
    • 3.92 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 2401 Riverfront Dr

    Lot size
    3.92 lot acres
    Property type
    Retail properties & Spaces

    Property Overview

    This property is located on the corners of Highway #14 and N. Riverfront Dr. in Mankato. The site consists of two parcels totaling approximately 3.92 acres, offering two potential building sites. It features high visibility and easy access to Hwy. #14, with turn lanes from both directions and a curb cut. The location is close to the Hwy. #14 and N. Riverfront interchange. The site benefits from roundabouts and access from both the north and south directions, enhancing safety and traffic flow. Pedestrian accommodations are also in place, including ADA trails. The property was formerly the location of the Colony Supper Club.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9806
    Latitude
    44.1905

    Comparable in this City

    • Value Estimation by Request
      6,416 SF

      1851 Madison Ave

      SHOPPING CENTER, STRIP CENTER • 6,416 SF
      1851 Madison Ave, Mankato, MN 56001-6200
      View Details
    • Value Estimation
      $1,330,000
      27,457 SF

      1935 Madison Ave

      AUTO REPAIR, GARAGE • 27,457 SF
      1935 Madison Ave, Mankato, MN 56001-5414
      View Details
    • Value Estimation by Request
      4,750 SF

      170 Saint Andrews Dr

      CONVENIENCE STORE • 4,750 SF
      170 Saint Andrews Dr, Mankato, MN 56001-8665
      View Details
    • Value Estimation
      $1,205,000
      33,451 SF

      130 Saint Andrews Dr

      VEHICLE SALES, RENTALS • 33,451 SF
      130 Saint Andrews Dr, Mankato, MN 56001-8665
      View Details
    • Value Estimation
      $1,080,000
      16,324 SF

      2021 Fern Lk Rd

      VEHICLE SALES, RENTALS • 16,324 SF
      2021 Fern Lk Rd, Mankato, MN 56001-2360
      View Details
    • Value Estimation by Request
      6,311 SF

      1640 Adams St

      FINANCIAL BUILDING • 6,311 SF
      1640 Adams St, Mankato, MN 56001-4801
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mister Car Wash Investment Opportunity

      Net leased Mister Car Wash in Mankato's primary retail corridor.
      1541 Madison Ave, Mankato, MN 56001
      View Details
    • $475,000

      Heating & Cooling Business Opportunity

      Heating and cooling business for sale in New Ulm, MN.
      Confidential Sale, Burnsville, MN 56001
      View Details
    • Contact for pricing
      7,480 SF

      Retail Property in Mankato, MN

      Retail property with national tenants, excellent visibility and access.
      1920 Adams St, Mankato, MN 56001
      View Details
    • $300,000
      0.75 Acres

      Prime Retail Outlot Opportunity

      Strategically located retail outlot with high traffic counts.
      Tbd Premier Dr, Mankato, MN 56001
      View Details
    • Contact for pricing

      Mankato Riverfront Plaza Retail Center

      Fully renovated retail center in Mankato, Minnesota.
      1400 South Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing

      Retail Space Near River Hills

      1,553 SF retail space in Mankato's busiest retail area.
      1861 Adams St, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mankato Retail Space with Drive-Thru

      Freestanding building near River Hills Mall with high visibility.
      1880 Tailwind Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      125,000 SF

      Retail Space on Madison Avenue

      Retail space with store-front facing main corridor along Madison Ave.
      1740 Madison Ave, Mankato, MN 56001
      View Details
    • $25 SF/Yr
      1,322 SF

      Highway 169 Commercial Spaces Available

      New construction mixed-use property with retail and office spaces for lease.
      1247 Range St, Mankato, MN 56001
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space on Madison Avenue

      Retail space with excellent visibility in Mankato's retail corridor.
      1565 Tullamore St, Mankato, MN 56001
      View Details
    • $15 SF/Yr

      Repurposed Entertainment and Restaurant Hub

      Family entertainment and restaurant hub in Mankato's prime retail district.
      1850 Madison Ave, Mankato, MN 56001
      View Details
    • Contact for pricing
      1,931 SF

      Downtown Mankato Retail Space

      Prime 1,931 SF retail space in downtown Mankato.
      518-520 S Front St, Mankato, MN 56001
      View Details
    Request Owner's contact information
    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.
    2401 Riverfront Dr
    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
    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

    Thank You for Inquiry
    2401 Riverfront Dr, Mankato, MN, 56001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!