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    Property profile & analytics

    329 Riverfront Dr Mankato, MN 56001

    • Retail space
    • 3,168 SF
    • 0.06 lot acres
    For Sale
    View listing
    $574,900
    Value Estimation
    Location Intelligence
    Property ID
    US46-1986271
    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

    • Coffee Hag / Bakery / Cafe

    Property Details for 329 Riverfront Dr

    Year built
    1891
    Lot size
    0.06 lot acres
    Property size
    3,168 SF
    Property type
    Retail space
    APN
    R01.09.07.378.001
    APU
    R010907378001

    Description

    This exceptional investment opportunity presents a 3-unit property located at 329 N Riverfront Dr, Mankato, MN 56001, in Blue Earth County. The property, built in 1891, boasts a total of 3,168 square feet and is currently 100% occupied, offering immediate cash flow. The ground floor features a thriving retail space, one of Mankato's longest-running coffee shops, operating under a modified gross lease with two years remaining on the current term. Upstairs, two one-bedroom apartments provide additional rental income. The building has a strong rental history with all tenants undergoing thorough background and credit checks. Significant interior improvements exceeding $150,000 have been made within the last decade. Recent upgrades include a new roof installed in 2020 and a brand-new air conditioning unit currently being added. This property offers a unique blend of historical charm and modern updates, presenting a compelling investment opportunity for a discerning buyer seeking a stable, income-generating asset with potential for future value-add improvements. The asking price is $574,900.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $230,000

    • CAP approach

      CAP return
      Estimation
      6%
      $215,000
      6.5%
      $210,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $190,000
      Geo Method
      $190,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $250,000
      Retail
      $200,000
      Mixed-Use
      $240,000
      Hospitality
      $205,000
      Educational
      $205,000
      Residential Income
      $240,000
      Energy
      $180,000
      Income-Based Land
      $185,000
      Food Service
      $200,000

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9998
    Latitude
    44.17
    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
    $8,224
    $17,700
    $429,400
    $447,100
    -
    $17,700
    $429,400
    $447,100

    Comparable in this City

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      821 Riverfront Dr

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      1889 Tailwind Dr

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      127 Lamm St

      RETAIL STORES (PERSONAL SERVICES) • 8,584 SF
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    • Value Estimation by Request
      11,496 SF

      301 Riverfront Dr

      RETAIL STORES (PERSONAL SERVICES) • 11,496 SF
      301 Riverfront Dr, Mankato, MN 56001-3549
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      4,440 SF

      415 Riverfront Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,440 SF
      415 Riverfront Dr, Mankato, MN 56001-3400
      View Details
    • Value Estimation
      $195,000
      4,324 SF

      418 Park Ln

      RETAIL STORES (PERSONAL SERVICES) • 4,324 SF
      418 Park Ln, Mankato, MN 56001-2038
      View Details

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    329 Riverfront Dr
    Mankato, MN 56001
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    Realmo Value Estimation

    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.

    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.

    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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