1601 Lor Ray DrNorth Mankato, MN 56003

Property Details for 1601 Lor Ray Dr

Year built

1988

Lot size

0.80 AC

Property size (Sq ft)

2,655 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

18.714.0020

APU

187140020

Description

This vacant 2,679 square foot storefront, formerly a Taco John's, presents a prime retail opportunity in North Mankato, Minnesota. Located at 1601 Lor Ray Dr, 56003, this property sits on a 0.8-acre lot and enjoys excellent visibility and accessibility. Its strategic location offers easy access to Highway 14, ensuring high traffic volume and exposure to a substantial customer base. The property benefits from its proximity to a variety of established national retailers, including Shell, Starbucks, Walgreens, Dollar Tree, and Chipotle Mexican Grill, creating a synergistic retail environment. North Mankato, with a population of 14,275 (2020 Census), offers a thriving market for retail businesses. The property's size and location make it suitable for a wide range of retail concepts. This is an exceptional chance to establish a business in a high-demand area with strong existing retail presence and convenient highway access. The property is currently vacant, providing immediate occupancy for a new tenant. The 0.8-acre lot offers ample space for potential expansion or outdoor amenities. This is a rare opportunity to acquire a well-situated retail space in a growing Minnesota community.

• CAP approach

  CAP return

  Valuation

  6%

  $642,452

  6.5%

  $593,033

  7%

  $550,673

• Comparable approach

  Method

  Valuation

  Relative Method

  $341,488

  Geo Method

  $341,488

• Alternative Use

  Use

  Valuation

  Residential

  $500,245

  Hospitality

  $458,222

  Educational

  $381,235

  Medical

  $394,347

  Retail

  $593,033

Location Insight

City

North Mankato

County

Nicollet

State

Minnesota

Latitude

44.1755

Longitude

-94.0341

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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