Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    302 2Nd St Mankato, MN 56001
    Back to Search
    Property profile & analytics

    302 2Nd St Mankato, MN 56001

    View on Map
    • Retail properties & Spaces
    • 8,640 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Karen M. Ortloff, MA / Physician / Medical Clinic
    • Kenneth Martins, LP / Physician / Medical Clinic

    Property Details for 302 2Nd St

    Property size
    8,640 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 1,400 square foot retail space is located in a brand new, high-end mixed-use building in Mankato's historic Old Town. Boasting high visibility and a significant traffic count on 2nd Street, this single-tenant property offers a prime leasing opportunity for a discerning business. The luxurious space is ideally suited for a café, boutique retail store, or a trendy small restaurant. Its versatile design allows for customization to meet the specific needs of a variety of businesses. The building's location within the charming and historic Old Town district provides access to a thriving and growing community. The property sits on a 0.333-acre lot and the entire building encompasses 8,640 square feet. This is a rare opportunity to establish a presence in a highly desirable location with excellent foot traffic and strong community engagement. The new construction ensures modern amenities and a fresh, appealing aesthetic. Don't miss this chance to secure a prominent location in Mankato's vibrant Old Town.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9998
    Latitude
    44.1689

    Comparable in this City

    • Value Estimation by Request
      44,076 SF

      500 2Nd St

      Retail properties & Spaces • 44,076 SF
      500 2Nd St, Mankato, MN 56001
      View Details
    • Value Estimation by Request
      4.22 Acres

      Excel Dr

      Land • 4.22 Acres
      0 Excel Dr, Mankato, MN 56001
      View Details
    • Value Estimation by Request

      190 Augusta Ct

      Farms
      190 Augusta Ct, Mankato, MN 56001
      View Details
    • Value Estimation by Request
      2.16 Acres

      Hwy 22 & Augusta Dr

      Land • 2.16 Acres
      0 Hwy 22 & Augusta Dr, Mankato, MN 56001
      View Details
    • Value Estimation by Request

      3021-F Evergreen Trl

      Land
      3021-F Evergreen Trl, Mankato, MN 56001
      View Details
    • Value Estimation by Request

      Evergreen Trl

      Land
      0 Evergreen Trl, Mankato, MN 56001
      View Details

    Similar Nearby for Sale

    • $735,000
      10,332 SF

      Retail Property in Mankato

      Retail property with 10,332 square feet of space.
      521-523 N Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      3,366 SF

      Arby's Investment Property For Sale

      NNN leased Arby's with a drive-thru in Mankato, Minnesota.
      520 S Riverfront Dr, Mankato, MN 56001
      View Details
    • New
      $699,000
      0.24 Acres

      Mankato Mixed-Use Property Package

      Four-property package with commercial, residential, and redevelopment potential.
      1618 3Rd Ave, Mankato, MN 56001
      View Details
    • $735,000

      Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in Mankato.
      521 North Riverfront Dr, Mankato, MN 56001
      View Details
    • $499,900

      Land For Sale

      Land available at the corner of Bassett Drive and Carver Road.
      21529 586Th Ave, Mankato, MN 56001
      View Details
    • $295,000
      0.21 Acres

      Downtown Mankato Church - Price Reduced

      Historic Church, 7,612 SF, Redevelopment Potential
      119 State St, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Mankato Mixed-Use Development

      Class A mixed-use property in the heart of Downtown Mankato.
      201 N Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      7,500 SF

      Prime Retail Pads Available

      New retail development with drive-thru, available Summer 2025.
      N Victory Dr, Mankato, MN 56001
      View Details
    • Contact for pricing

      Prime Retail Land Opportunity

      Land available for sale, lease, or build-to-suit in Mankato.
      1820 Adams St, Mankato, MN 56001
      View Details
    • 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
    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.
    302 2Nd 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
    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
    302 2Nd St, 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!