119 State St, Mankato, MN 56001
This unique 7,612-square-foot property, located at 119 State Street in Mankato, Minnesota, presents a compelling redevelopment opportunity. Currently configured as a turnkey church building, this special-purpose property offers significant potential for repurposing. Situated in a quiet downtown neighborhood, it enjoys convenient access to Front Street retailers, West Mankato, Stoltzman Road (providing University access), and Highway 169. The building boasts historic charm and features a fully finished basement complete with restrooms, offices, and a full kitchen. Parking is readily available with 7-10 spots in a private lot accessible via an alley. Recent alley improvements (2020) resulted in special assessments totaling $1,231.04, with annual payments of $646.58. The 0.21-acre lot provides ample space for various uses. The building's substantial size (over 5,000 square feet on the main level) and versatile layout make it ideal for a variety of commercial ventures, including office space, daycare centers, event venues, or community spaces. The asking price is $295,000. This property offers a rare blend of historic character and modern convenience in a prime Mankato location.
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
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
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Risks
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