Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1531 Madison Ave Mankato, MN 56001

    • Manufacturing properties
    • 34,859 SF
    • 1.90 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Last Sale
    Dec 22, 2023
    $2,310,000
    Value Estimations
    $2,385,000
    Cap Rate Potential
    9.6%
    Manufacturing properties
    Location Intelligence
    Property ID
    US46-1951699
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Johnson Outdoors Minn Kota / Manufacturer / Electric Motor Store

    Property Details for 1531 Madison Ave

    Year built
    1959
    Lot size
    1.90 lot acres
    Property size
    34,859 SF
    Property type
    Manufacturing properties
    APN
    R01.09.16.101.004
    APU
    R010916101004

    Description

    This exceptional commercial property, situated at 1531 Madison Avenue in Mankato, Minnesota, offers 37,000 square feet of leasable space within a soon-to-be renovated, multi-tenant light industrial building. The building boasts a total of 64,000 square feet on an 82,605 square foot lot in Blue Earth County. This prime location provides direct access from both Madison Avenue and Belle Avenue, ensuring high visibility and convenient access for businesses and customers. The space is ideal for a variety of uses, including individual offices/suites, light industrial operations, warehousing, or retail ventures. Amenities include a convenient loading dock, a spacious parking lot, and 8,000 square feet of shared community space. The property benefits from its position on Mankato's Hilltop, a rapidly developing area with high traffic volume on Madison Avenue. Neighboring businesses include established national franchises and popular local establishments such as Mister Clean, Slim Chickens, Aldi, Luther Mankato Honda, and Fitness for Ten, creating a vibrant and thriving commercial environment. This multi-tenant opportunity presents a unique chance to establish a presence in a highly desirable and rapidly growing area of Mankato. The property's size and amenities make it suitable for a range of businesses seeking a strategic location with excellent accessibility and ample space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,130,000
      ML approach
      $2,130,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,405,000
      6.5%
      $3,140,000
      7%
      $2,920,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,290,000
      WAREHOUSE, STORAGE
      $3,215,000
      OFFICE BUILDING
      $3,120,000
      COMMERCIAL (GENERAL)
      $2,265,000
      AUTO REPAIR, GARAGE
      $2,200,000
      RETAIL STORES
      $2,005,000
      MEDICAL BUILDING
      $2,005,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9672
    Latitude
    44.1663
    CBSA code
    31860
    CBSA name
    MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,772
    $497,300
    $1,522,300
    $2,019,600
    -
    $497,300
    $1,522,300
    $2,019,600

    Comparable in this City

    • Value Estimation
      $820,000
      45,280 SF

      2600 9th Ave

      HEAVY MANUFACTURING • 45,280 SF
      2600 9th Ave, Mankato, MN 56001-2798
      View Details
    • Value Estimation
      $580,000
      30,088 SF

      121 Mohr Dr

      HEAVY MANUFACTURING • 30,088 SF
      121 Mohr Dr, Mankato, MN 56001-3000
      View Details
    • Value Estimation
      $595,000
      35,280 SF

      69 Power Dr

      HEAVY MANUFACTURING • 35,280 SF
      69 Power Dr, Mankato, MN 56001-4883
      View Details
    • Value Estimation
      $390,000
      35,972 SF

      Mankato, MN 56001

      HEAVY MANUFACTURING • 35,972 SF
      Mankato, MN 56001
      View Details
    • Value Estimation
      $770,000
      61,408 SF

      1970 Excel Dr

      HEAVY MANUFACTURING • 61,408 SF
      1970 Excel Dr, Mankato, MN 56001-5903
      View Details
    • Value Estimation
      $235,000
      6,080 SF

      301 Eleanor St

      HEAVY MANUFACTURING • 6,080 SF
      301 Eleanor St, Mankato, MN 56001-1833
      View Details

    Similar Nearby for Sale

    • $1,300,000
      42,410 SF

      Mankato Industrial Distribution Center

      High-yield warehouse, 42,410 SF, 9.20% Cap Rate
      1415 1St Ave, Mankato, MN 56001
      View Details
    • $1,567,000
      8.99 Acres

      Excel Dr. Development Land

      8.99 Acres, Mankato, MN
      0 Excel Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      60.82 Acres

      Mankato Industrial Land Opportunity

      60 Acres, Light Industrial Zoning, Hwy 14 Access
      22061 589Th Ave, Mankato, MN 56001
      View Details
    • $740,520
      4.25 Acres

      Mankato Land: 4.25 Acres

      Prime Mankato development land. Residential potential.
      0 Excel Dr, Mankato, MN 56001
      View Details
    • $799,582
      9,972 SF

      Mankato Flex Space with Showroom

      Flex space featuring showroom, shop area, and highway access.
      756 Main St W, Mankato, MN 56001
      View Details
    • Contact for pricing
      16.93 Acres

      Ford Road Medical Office Space

      8,800 SF Medical Office, Wayne County
      2 Adams St, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      42,410 SF

      Mankato Office & Warehouse Space

      Prime Mankato location, flexible office/warehouse suites.
      1415 1St Ave, Mankato, MN 56001
      View Details
    • $7 SF/Yr
      30,000 SF

      Victory Drive Industrial Space

      Mankato Flex/Warehouse Space Available
      2351 Victory Dr, Mankato, MN 56001
      View Details
    • $95 SF/Yr
      60,000 SF

      Mankato Industrial Land Development

      18-Acre Industrial Land, Build-to-Suit Options
      1759 Energy Dr, Mankato, MN 56001
      View Details
    • $6 SF/Yr
      12,921 SF

      Warehouse with Outside Storage Space

      Warehouse featuring outside storage and convenient highway access.
      321-325 Lundin Blvd, Mankato, MN 56001
      View Details
    • $6 SF/Yr
      4,890 SF

      Mankato Warehouse with Storage Space

      Warehouse with easy access and outside storage available for rent.
      55177 210Th Ln, Mankato, MN 56001
      View Details
    • Contact for pricing
      309,507 SF

      Mankato Industrial Space For Lease

      Industrial space with tall ceilings, multiple doors, and loading docks.
      2415 3Rd Ave, Mankato, MN 56001
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1531 Madison Ave
    Mankato, MN 56001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.