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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1601 Monks Ave Mankato, MN 56001

    • Strip malls
    • 14,407 SF
    • 0.95 lot acres
    For Sale
    View listing
    $4,073
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1961287
    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

    • Strip malls

    Property Details for 1601 Monks Ave

    Year built
    2012
    Lot size
    0.95 lot acres
    Property size
    14,407 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    R01.09.20.153.016
    APU
    R010920153016

    Description

    This exceptional 2,444 square foot retail space presents a remarkable opportunity within the thriving Monks Avenue Retail Center in Mankato, Minnesota. Its strategic location directly benefits from its proximity to Minnesota State University, Mankato, ensuring a consistent flow of students, faculty, and visitors. The property enjoys a highly visible position along a major thoroughfare, enhanced by its placement near a hard stoplight, maximizing exposure to both vehicular and pedestrian traffic. This translates to exceptional accessibility and visibility for any business. The center boasts a strong tenant mix, including well-known national and regional brands such as CVS, Domino's, Qdoba, Subway, and Kwik Trip, creating a vibrant and attractive retail environment. This synergistic environment draws a diverse customer base, providing a significant advantage for any prospective tenant. The property is offered at $4073 (price likely represents a monthly rent or other financial term, details to be confirmed). This is a rare opportunity to establish a business in a high-traffic, well-established retail center with a proven track record of success. The property is general commercial and sits on a 0-acre lot. Further details are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $755,000
      Current use
      COMMERCIAL (GENERAL)
      $935,000
      Change: +24% Conversion: Easy
      AUTO REPAIR, GARAGE
      $910,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $830,000
      Change: +10% Conversion: Easy
      MEDICAL BUILDING
      $830,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9888
    Latitude
    44.1459
    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
    $121,476
    $206,900
    $6,701,400
    $6,908,300
    -
    $206,900
    $6,701,400
    $6,908,300

    Comparable in this City

    • Value Estimation
      $605,000
      10,150 SF

      Mankato, MN 56001

      SHOPPING CENTER, STRIP CENTER • 10,150 SF
      Mankato, MN 56001
      View Details
    • Value Estimation
      $1,380,000
      46,953 SF

      1809 Adams St

      SHOPPING CENTER, STRIP CENTER • 46,953 SF
      1809 Adams St, Mankato, MN 56001-4841
      View Details
    • Value Estimation
      $510,000
      13,137 SF

      1861 Adams St

      SHOPPING CENTER, STRIP CENTER • 13,137 SF
      1861 Adams St, Mankato, MN 56001-2497
      View Details
    • Value Estimation by Request
      12,408 SF

      810 Frnt St

      SHOPPING CENTER, STRIP CENTER • 12,408 SF
      810 Frnt St, Mankato, MN 56001-2401
      View Details
    • Value Estimation by Request
      4,350 SF

      1859 Madison Ave

      SHOPPING CENTER, STRIP CENTER • 4,350 SF
      1859 Madison Ave, Mankato, MN 56001-6200
      View Details
    • Value Estimation
      $3,285,000
      17,015 SF

      201 Sioux Rd

      SHOPPING CENTER, STRIP CENTER • 17,015 SF
      201 Sioux Rd, Mankato, MN 56001-7114
      View Details

    Similar Nearby for Sale

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      Prime Retail Space Near University

      Retail space near Minnesota State University with high visibility.
      1601 Monks Ave, Mankato, MN 56001
      View Details
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    1601 Monks Ave
    Mankato, MN 56001
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    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
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