0 Tbd Hoffman Rd Mankato, MN 56001
This exceptional 43.19-acre land parcel in Mankato, Minnesota, presents a prime opportunity for residential development. Located on the north side of Hoffman Road's extension, the property boasts gorgeous natural and pond views on three sides. A preliminary plat has been approved for up to 34 single-family building sites, each measuring approximately 72' x 131'. The asking price of $3,200,000 includes finished lots and paid assessments. The development will feature a homeowner's association responsible for private road maintenance, snow removal, lawn care, and irrigation. Attractive floor plans and elevations will be available as an option for future builders. The property is zoned R2, and is "shovel ready" by late September 2024. Additional acreage is available for purchase, potentially totaling over 100 acres, including 19 acres zoned OR and two commercial lots. This development offers a unique blend of natural beauty and convenient access to Mankato amenities. The lots are designed to maximize natural light and water views, providing future residents with an idyllic living experience.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.