Technical
Financial
Distress signals
Property profile

1810 Commerce Dr North Mankato, MN 56003

OFF-MARKET
Strip malls
Property ID
US46-2819241
28,728 SF 3.25 ac lot Built 2000
Individually Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

North Kato Plaza, located at 1810 Commerce Drive in North Mankato, Minnesota, 56003, offers a diverse range of office spaces ideal for various business needs. This Class A, single-story building, constructed in 2000, boasts a total of 28,895 square feet and comprises nine suites. The property sits on 3.25 acres of land and provides ample parking with 166 spaces. Currently, 1,106 square feet of space is immediately available, with the potential to lease up to 6,944 contiguous square feet. The minimum divisible space is 1,106 square feet. The building is situated on a high-traffic corridor, offering excellent visibility and accessibility. The property is well-suited for medical, traditional, coworking, creative, or executive office uses. The building features a single-story design for easy navigation. Lease rates are attractive, ranging from $9.00 to $14.50 per square foot, NNN. The property's APN is 18.572.0020, and it's conveniently located near the cross street of Roecrest. This prime location in the Mankato submarket provides businesses with a strategic advantage.

Property profile

Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 2000
Total area 28,728 SF
Lot 3.25 ac (141,483 SF)
APN 18.572.0020
UPID US46-2819241

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1810 Commerce Dr North Mankato, MN 56003-1800
North Mankato metro Census 480501 MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.71M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.69M

Owner & transaction history

since 2021
Last sale
$2.5M
2 recorded transactions
2021
Price N/A
2021
$2.5M

Zoning & alternative use

Top alternative use upside
Restaurant $2.9M +97.6%
Warehouse, storage $2.6M +78.4%
Auto repair, garage $1.7M +18.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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