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    340 Webster Ave North Mankato, MN 56003
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    Property profile & analytics

    340 Webster Ave North Mankato, MN 56003

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    • Retail space
    • 1,653 SF
    • 0.68 lot acres
    For Lease
    $8,640/Mo
    View Listing →
    Prime Commercial Space Available For Lease
    $8,640/Mo

    Prime Commercial Space Available

    Premier commercial project with high visibility and customizable options.

    1109 Range Street, North Mankato, MN 56003
    View Listing
    Property ID
    US46-2592084
    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
    $835,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 340 Webster Ave

    Year built
    1968
    Lot size
    0.68 lot acres
    Property size
    1,653 SF
    Property type
    Retail space
    APN
    18.557.2980
    APU
    185572980

    Description

    This exceptional Class A retail building, completed in 2024, offers three available suites totaling 8,881 square feet in North Mankato, Minnesota. Located at 1105 Range St, zip code 56003, this property sits on a generous 29,708 square foot lot and enjoys excellent visibility and accessibility from Highway 169. Each suite is individually divisible, with a minimum leasable area of 2,881 square feet and a maximum contiguous space of 3,000 square feet. The building features a single story design, providing convenient access for tenants and customers. Highway 169 sees a high volume of 25,400 vehicles per day, ensuring significant exposure for businesses located within this development. Planned improvements to Highway 169 and Webster Avenue, including a roundabout scheduled for 2027, are expected to further enhance visibility and accessibility to the property, creating a safer and more convenient environment for both drivers and pedestrians. This presents a unique opportunity for businesses seeking a high-traffic location in a thriving Minnesota market. The property is currently entirely vacant, offering a blank canvas for prospective tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $775,000
      ML approach
      $775,000

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

    Location Insight

    • Map
    • Local Demand
    City
    North Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -94.0091
    Latitude
    44.1813
    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
    2023
    $5,206
    $107,500
    $119,600
    $227,100
    -
    $107,500
    $119,600
    $227,100

    Comparable in this City

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      229 Belgrade Ave

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      231 Belgrade Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
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    • Value Estimation
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      10,716 SF

      1880 Commerce Dr

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      1705 Commerce Dr

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    • Value Estimation by Request
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      443 Belgrade Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,388 SF
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    Similar Nearby for Lease

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      Prime Commercial Space on Highway

      Premier commercial space with high visibility and build-to-suit options.
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    • $6,295 /Mo

      Prime Commercial Space on Highway 169

      Premier commercial space with high visibility and build-to-suit options.
      340 Webster Ave, North Mankato, MN 56003
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    • Contact for pricing
      3,456 SF

      Prime Commercial Space for Lease

      Premier commercial project with high visibility and customizable space.
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      Retail/Office Space in North Mankato

      Retail or office space available in North Mankato location.
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    View Listing
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    North Mankato, MN 56003
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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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    340 Webster Ave, North Mankato, MN, 56003
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