1633 Monks Ave Mankato, MN 56001

Property Details for 1633 Monks Ave

Year built

1984

Lot size

0.55 lot acres

Property size

2,800 SF

Property type

Commercial real estate

APN

R01.09.20.153.002

APU

R010920153002

Description

This thriving Mankato hair salon, established in 2014, presents a unique opportunity for an owner-operator or entrepreneur. Boasting a 4.9-star client rating and five experienced stylists under weekly chair rental contracts, the salon offers a turnkey operation with significant upside. The beautifully designed space, featuring an inviting atmosphere and a coffee bar, benefits from a prime location near Minnesota State University, Mankato, with over 15,000 students within walking distance. The current setup includes approximately $39,000 worth of equipment, furniture, and fixtures, all included in the $50,000 asking price. Ample growth opportunities exist through adding stylists (five additional stations available), expanding product sales, and implementing walk-in appointments. Favorable lease terms include a five-year renewal option starting in 2025. The salon utilizes an online booking system through Vagaro. Management training support is available, and seller financing is an option for qualified buyers with a down payment as low as $10,000. The business is currently absentee-owned, with the owner providing digital marketing and consulting services which are optionally available to the buyer. One stylist holds a salon manager's license from the Minnesota Board of Cosmetology. The list price is for business assets only