Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1565 Tullamore St Mankato, MN 56001
    Back to Search
    Property profile & analytics

    1565 Tullamore St Mankato, MN 56001

    View on Map
    • Retail space
    • 10,324 SF
    • 1.03 lot acres
    For Lease
    $965,000
    View Listing →
    Freestanding Retail on Madison Avenue For Lease
    $965,000

    Freestanding Retail on Madison Avenue

    Freestanding retail space with high visibility on Madison Avenue.

    1565 Tullamore St, Mankato, MN 56001
    View Listing
    Property ID
    US46-1934054
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pawn America / Discount Store / (Bike/Boat/Book/etc) Store

    Property Details for 1565 Tullamore St

    Year built
    2013
    Lot size
    1.03 lot acres
    Property size
    10,324 SF
    Property type
    Retail space
    APN
    R01.09.09.354.003
    APU
    R010909354003

    Description

    This exceptional freestanding retail property at 1565 Tullamore Street in Mankato, Minnesota, offers a prime opportunity for businesses seeking high visibility and ample space. The 10,324 square foot building, constructed in 2013, sits on a 1.44-acre lot and boasts a convenient single-story design. Currently, 3,600 square feet of retail space is available, divisible into units as small as 1,800 square feet and with a maximum contiguous space of 3,600 square feet, providing flexibility for various business needs. The property features 65 surface parking spaces, ensuring convenient access for customers and employees. Its location provides excellent visibility, directly on Madison Avenue, a key thoroughfare in Mankato. The building's floor area ratio (FAR) is 0.16. The property's parcel number (APN) is R01-09-09-354-009. This is an ideal location for businesses seeking high traffic and strong brand exposure in a thriving Mankato market. The property is zoned for retail use and offers a unique opportunity to establish a strong presence in a desirable area. The building's single-story design and ample parking make it highly accessible and user-friendly. With its strategic location and flexible space options, this property presents a compelling investment opportunity. Contact us today to learn more about this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $731,000
      Market price range: $323k - $880k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,115,000
      Current use
      OFFICE BUILDING
      $1,320,000
      Change: +18% Conversion: Easy
      COMMERCIAL (GENERAL)
      $970,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9661
    Latitude
    44.1675
    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
    $32,948
    $336,900
    $921,100
    $1,258,000
    -
    $336,900
    $921,100
    $1,258,000

    Comparable in this City

    • Value Estimation by Request
      4,846 SF

      241 Saint Andrews Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,846 SF
      241 Saint Andrews Dr, Mankato, MN 56001-8584
      View Details
    • Value Estimation
      $5,635,000
      90,305 SF

      1850 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 90,305 SF
      1850 Madison Ave, Mankato, MN 56001-4701
      View Details
    • Value Estimation
      $7,185,000
      120,010 SF

      1831 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 120,010 SF
      1831 Madison Ave, Mankato, MN 56001-5449
      View Details
    • Value Estimation by Request
      2,132 SF

      55157 190th St

      RETAIL STORES (PERSONAL SERVICES) • 2,132 SF
      55157 190th St, Mankato, MN 56001-6631
      View Details
    • Value Estimation by Request
      3,520 SF

      634 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 3,520 SF
      634 Frnt St, Mankato, MN 56001-3801
      View Details
    • Value Estimation
      $2,065,000
      31,917 SF

      1895 Adams St

      RETAIL STORES (PERSONAL SERVICES) • 31,917 SF
      1895 Adams St, Mankato, MN 56001-4863
      View Details

    Similar Nearby for Sale

    • $475,000

      Heating & Cooling Business Opportunity

      Heating and cooling business for sale in New Ulm, MN.
      Confidential Sale, Burnsville, MN 56001
      View Details
    • Contact for pricing
      9,819 SF

      Retail Space with Mezzanine Level

      Retail space featuring a mezzanine level with offices and storage.
      1701 Adams St, Mankato, MN 56001
      View Details
    • $300,000
      0.75 Acres

      Prime Retail Outlot Opportunity

      Strategically located retail outlot with high traffic counts.
      Tbd Premier Dr, Mankato, MN 56001
      View Details
    • Contact for pricing

      Retail Space Near River Hills

      1,553 SF retail space in Mankato's busiest retail area.
      1861 Adams St, Mankato, MN 56001
      View Details
    • Contact for pricing

      Prime Retail Space Near University

      Retail space near Minnesota State University with high visibility.
      1601 Monks Ave, Mankato, MN 56001
      View Details
    • $7,700,000
      46,446 SF

      Retail Space Near Minnesota State

      Retail space near Minnesota State University, Mankato.
      1633 Monks Ave, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,931 SF

      Downtown Mankato Retail Space

      Prime 1,931 SF retail space in downtown Mankato.
      518-520 S Front St, Mankato, MN 56001
      View Details
    • Contact for pricing
      7,500 SF

      Prime Retail Pads Available

      New retail development with drive-thru, available Summer 2025.
      N Victory Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      4,800 SF

      Mankato Retail Space For Lease

      Retail space available in Fall 2022, from 1,800 to 4,800 sq. ft.
      N Victory Dr & Hazeltine Rd, Mankato, MN 56001
      View Details
    • $8 SF/Yr

      Prime Retail Space in Mankato

      Located in downtown Mankato with high traffic and accessibility.
      615 S Front St, Mankato, MN 56001
      View Details
    View Listing
    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.
    1565 Tullamore St
    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

    Thank You for Inquiry
    1565 Tullamore St, Mankato, MN, 56001
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!