Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1850 Madison Ave Mankato, MN 56001
    Back to Search
    Property profile & analytics

    1850 Madison Ave Mankato, MN 56001

    View on Map
    • Retail space
    • 90,305 SF
    • 7.96 lot acres
    For Lease
    $5,635,000
    View Listing →
    Repurposed Entertainment and Restaurant Hub For Lease
    $5,635,000

    Repurposed Entertainment and Restaurant Hub

    Family entertainment and restaurant hub in Mankato's prime retail district.

    1850 Madison Ave, Mankato, MN 56001
    View Listing
    Property ID
    US46-1922562
    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

    • UNRL Rink / Ice Skating Rink
    • higi / Physician
    • ETS Performance Mankato / Gym & Fitness Center
    • Jacqueline Jones / Physician
    • The Venue / Music Venue / Bar & Pub

    Property Details for 1850 Madison Ave

    Year built
    1985
    Lot size
    7.96 lot acres
    Property size
    90,305 SF
    Property type
    Retail space
    APN
    R01.09.09.477.007
    APU
    R010909477007

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,378,000
      Market price range: $6.20M - $12.0M
      AI Estimate
      $3,387,000
      Market price range: $2.82M - $7.70M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $8,485,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9536
    Latitude
    44.1684
    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
    $62,500
    $1,387,000
    $4,438,200
    $5,825,200
    -
    $1,387,000
    $4,438,200
    $5,825,200

    Comparable in this City

    • Value Estimation
      $5,285,000
      87,061 SF

      1921 Bassett Dr

      RETAIL STORES (PERSONAL SERVICES) • 87,061 SF
      1921 Bassett Dr, Mankato, MN 56001-6280
      View Details
    • Value Estimation
      $1,160,000
      15,577 SF

      1730 Bassett Dr

      RETAIL STORES (PERSONAL SERVICES) • 15,577 SF
      1730 Bassett Dr, Mankato, MN 56001-6568
      View Details
    • Value Estimation
      $2,270,000
      2,208 SF

      1541 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,208 SF
      1541 Madison Ave, Mankato, MN 56001-5443
      View Details
    • Value Estimation
      $1,335,000
      14,392 SF

      1270 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,392 SF
      1270 Madison Ave, Mankato, MN 56001-5228
      View Details
    • Value Estimation by Request
      3,283 SF

      885 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,283 SF
      885 Madison Ave, Mankato, MN 56001-6139
      View Details
    • Value Estimation by Request
      4,558 SF

      1854 Madison Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,558 SF
      1854 Madison Ave, Mankato, MN 56001-5448
      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

    • $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
    • Contact for pricing
      4,500 SF

      Retail Space Near River Hills

      Retail space with high visibility and easy access near mall.
      1840 Adams St, Mankato, MN 56001
      View Details
    • Contact for pricing
      2,115 SF

      Mankato Retail/Office Corner Suite

      Prime Mankato location ideal for retail or office use.
      600 S Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      10,268 SF

      Retail Space in Mankato Center

      Retail space with high visibility and ample parking.
      1720-1776 Madison Ave, 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.
    1850 Madison Ave
    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
    1850 Madison Ave, 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!