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

    1741 Premier Dr Mankato, MN 56001-6048

    • Retail space
    • 26,606 SF
    • 3.09 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2023
    $2,400,000
    Value Estimations
    $2,185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1873623
    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

    • Vanity Fur / Pet Groomer
    • The Paw Mankato / Pet Boarding Service

    Property Details for 1741 Premier Dr

    Year built
    2007
    Lot size
    3.09 lot acres
    Property size
    26,606 SF
    Property type
    Retail space
    APN
    R01.09.04.427.009
    APU
    R010904427009

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,115,000
      ML approach
      $2,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,825,000
      Market price range: $1.83M - $3.54M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,880,000
      Current use
      OFFICE BUILDING
      $3,400,000
      Change: +18% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,500,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9508
    Latitude
    44.1858
    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
    $39,420
    $571,000
    $928,200
    $1,499,200
    -
    $571,000
    $928,200
    $1,499,200

    Comparable in this City

    • Value Estimation
      $615,000
      7,379 SF

      429 2nd St

      RETAIL STORES (PERSONAL SERVICES) • 7,379 SF
      429 2nd St, Mankato, MN 56001-3702
      View Details
    • Value Estimation
      $525,000
      5,850 SF

      613 Riverfront Dr

      RETAIL STORES (PERSONAL SERVICES) • 5,850 SF
      613 Riverfront Dr, Mankato, MN 56001-3452
      View Details
    • Value Estimation
      $5,855,000
      96,174 SF

      375 Saint Andrews Dr

      RETAIL STORES (PERSONAL SERVICES) • 96,174 SF
      375 Saint Andrews Dr, Mankato, MN 56001-8594
      View Details
    • Value Estimation
      $530,000
      5,435 SF

      120 Augusta Ct Ste 106b

      RETAIL STORES (PERSONAL SERVICES) • 5,435 SF
      120 Augusta Ct Ste 106b, Mankato, MN 56001-7720
      View Details
    • Value Estimation
      $680,000
      6,800 SF

      1630 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,800 SF
      1630 Madison Ave, Mankato, MN 56001-5444
      View Details
    • Value Estimation
      $510,000
      5,984 SF

      627 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 5,984 SF
      627 Frnt St, Mankato, MN 56001-3802
      View Details

    Similar Nearby for Sale

    • $650,000

      Riverfront Retail Land - Mankato, MN

      High-visibility corner lot, redevelopment potential.
      821 Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      12 SF

      Retail Space Near River Hills

      1,553 SF retail space in Mankato's busiest retail area.
      1861 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
    • $877,000
      3,724 SF

      Occupied Retail Center Near Highway

      Retail center with highway visibility and strong tenant demand.
      1400 S Riverfront Dr, Mankato, MN 56001
      View Details
    • $650,000
      5,000 SF

      Mankato Build-to-Suit Opportunity

      5,000 SF Retail Space, Highway 14 Exposure
      0 St Andrews Dr, Mankato, MN 56001
      View Details
    • $599,000
      Pending

      Freestanding Commercial Building with Drive-Thru

      Former Hardee’s with drive-thru, ideal for restaurant or retail.
      101 W Lind Ct, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      717,102 SF

      1850 Adams St

      Individual retail properties • 717,102 SF
      1850 Adams St, Mankato, MN 56001
      View Details
    • 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
      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
    • $1,000 /Mo

      Retail Space in Mankato, MN

      Retail space available for rent in Mankato, Minnesota.
      412 Park Ln, Mankato, MN 56001
      View Details
    • $10 SF/Yr
      331,604 SF

      Madison East Center Retail Space

      Repurposed retail property with medical-retail focus, office and retail spaces.
      1400 Madison Ave, Mankato, MN 56001
      View Details
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    Mankato, MN 56001-6048
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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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