1640 Madison AveMankato, MN 56001

Property Details for 1640 Madison Ave

Year built

1972

Lot size

0.76 AC

Property size (Sq ft)

6,000 SF

Property type

Retail properties

Property subtype

Retail space

APN

R01.09.09.379.009

APU

R010909379009

Description

This exceptional Mankato retail property, located at 1640 Madison Avenue, presents a rare opportunity for business owners. Boasting 6,000 square feet of space, this turnkey building is ready for immediate occupancy. The well-designed layout includes a 4,400 square foot showroom with ample natural light and eight dressing rooms, perfect for showcasing merchandise. An additional 2,400 square feet of space in the rear is ideal for storage and alterations. Employee amenities include a full kitchenette and updated bathroom, along with a private office. A glass storefront ensures excellent visibility and convenient customer access. The property also features over 60 parking stalls with direct access from Madison Avenue, ensuring ample parking for customers and employees. A significant advantage is the inclusion of a 0.78-acre lot (7,500 square feet) to the north, offering considerable future development potential. This prime location within Mankato's bustling Hilltop district provides high visibility and traffic counts on Madison Avenue, with convenient access from Tullmore Street, Victory Drive, and Highway 22. The property's proximity to the River Hills Mall further enhances its desirability. The asking price for this exceptional retail property is $1,550,000. This is a truly unique opportunity to acquire a high-quality, well-maintained retail space in a thriving Mankato location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,451,869

  6.5%

  $1,340,187

  7%

  $1,244,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $771,725

  Geo Method

  $771,725

• Alternative Use

  Use

  Valuation

  Residential

  $1,130,498

  Hospitality

  $1,035,530

  Educational

  $861,549

  Medical

  $891,179

  Retail

  $1,340,187

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.1675

Longitude

-93.9626

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.