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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Strip malls
111 Star St, Mankato, MN 56001-4888
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US46-1912125
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2001
Total area
15,903 SF
Lot
1.46 ac (63,815 SF)
APN
R01.09.09.380.001
UPID
US46-1912125
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
We Fix It Phone Repair Computer & Electronic Repair Tech Support Center
-
Tam's Nails Nail Salon
-
Katovision Inc Physician
-
Dr Albert LaMotte - O.D. Physician
-
Angela M. Johnson, OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$375k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$788k
Blend (final)
Blend
$580k
Owner & transaction history
Pronghorn Properties LLC · 9 yrs held
Pronghorn Properties LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$915,000
+9.6%
Medical building
$915,000
+9.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mankato submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mankato submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$375,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$835,000
Current use
RETAIL STORES
$915,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$915,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$36 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$49,784
Tax year 2024
Assessed value
$1,895,100
Assessed 2024
Previous assessed
$1,890,700
+0.2% YoY
Effective rate
2.63%
On assessed value
Assessed land
$255,200
Assessed improvement
$1,639,900
Land market value
$255,200
Improvement market value
$1,639,900
Total market value
$1,895,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2001
Heating
NONE
Stories
1
Total area
15,903 SF
Lot
1.46 ac (63,815 SF)
APN
R01.09.09.380.001
UPID
US46-1912125
Jurisdiction
BLUE EARTH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$835,000
RETAIL STORES
Est. value
$915,000
MEDICAL BUILDING
Est. value
$915,000
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Stories
1
Lot
1.46 ac
Current owner
From public records · entity-resolved
Pronghorn Properties LLC
Entity
Mailing address
137 2ND AVE S, WAITE PARK, MN 56387-1323
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2022
—
Pronghorn Properties LLC
—
Deed
related
$200,000 · Bremer Bank
Apr 4, 2022
—
Pronghorn Properties LLC
—
Deed
related
$1,575,000 · Bremer Bank
Apr 3, 2017
—
Pronghorn Properties LLC
Letnes Brothers Enterprises LLC
Warranty Deed
$1,657,500 · Central Minnesota Cu
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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