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Property profile & analytics
OFF-MARKET
Estimated value
$2,300,000
Industrial properties
3801 3rd Ave Mankato, MN 56001-2735
Entity Owned
2-yr Hold
Free & Clear
Property ID
US46-1945331
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1984
Total area
29,600 SF
Lot
7.1 ac (309,276 SF)
APN
R40.04.31.200.027
UPID
US46-1945331
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Central Farm Service Big Box & Wholesale Store Agricultural Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.30M
CAP Approach
CAP
$2.67M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.30M
Owner & transaction history
High Wire Properties LLC · 2 yrs held
High Wire Properties LLC
since 2024
Last sale
$2.3M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.8M
+194.1%
Warehouse, storage
$2.7M
+187.6%
Office building
$2.7M
+179.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Mankato submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mankato submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$2,300,000
ML approach
$2,300,000
CAP Approach
CAP Return
Estimation
6%
$2,890,000
6.5%
$2,670,000
7%
$2,480,000
Alternative Use
Use
Estimation
RESTAURANT
$2,790,000
Change: +194% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,730,000
Change: +188% · Conversion: Easy
OFFICE BUILDING
$2,650,000
Change: +179% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,925,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,870,000
Change: +97% · Conversion: Easy
RETAIL STORES
$1,700,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$1,700,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$2.30M
Range $2.07M – $2.53M · ±10% · vs last sale $2.30M (Jun 3 2024)
Last sale anchor
$2.30M
Jun 3 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$78 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$16,358
Tax year 2024
Assessed value
$1,450,500
Assessed 2024
Previous assessed
$1,450,500
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$139,600
Assessed improvement
$1,310,900
Land market value
$139,600
Improvement market value
$1,310,900
Total market value
$1,450,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1984
Heating
NONE
Stories
1
Total area
29,600 SF
Lot
7.1 ac (309,276 SF)
APN
R40.04.31.200.027
UPID
US46-1945331
Jurisdiction
BLUE EARTH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$2.8M
WAREHOUSE, STORAGE
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.7M
RESTAURANT
WAREHOUSE, STORAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
NONE
Stories
1
Lot
7.1 ac
Current owner
From public records · entity-resolved
High Wire Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 847, MANKATO, MN 56002-0847
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2024
$2,300,000
High Wire Properties LLC
Westman Investment LLP
Deed
—
Aug 29, 2014
$1,150,000
Westman Investments LLP
Kenneth W Christenson Trust
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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