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Property profile & analytics
FOR SALE
Strip malls
511 Holly Ln, Mankato, MN 56001
Individually Owned
2-yr Hold
Free & Clear
Property ID
US46-1980823
For Sale
1 / 34
$3,490,000
511 Holly Ln, Mankato, MN 56001
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Property summary
AI-generated overview
This exceptional 9,896 square foot retail property, located at 511 Holly Lane North in Mankato, Minnesota, presents a compelling investment opportunity. Built in 2012, the property sits on a 1.03-acre lot and enjoys a highly visible location in a high-traffic area, with an estimated 30,000 vehicles passing daily. The property is currently net-leased to national brand tenants, boasting an excellent rental history, providing a stable and predictable income stream for investors. A key advantage is the availability of 2,000 square feet of lease space commencing May 1, 2024, offering potential for expansion or additional income generation. This presents a unique chance to acquire a well-established, core investment-grade retail property in a thriving Minnesota market. The property's location in Blue Earth County, zip code 56001, ensures easy access and high visibility for businesses. This is an ideal opportunity for investors seeking a stable, net-leased investment with significant upside potential. The property's strong tenant history and prime location make it a highly desirable asset.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2012
Total area
5,852 SF
Lot
1.03 ac (44,867 SF)
APN
R01.09.17.231.016
UPID
US46-1980823
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
-
Jimmy John's Take-out & Catering Catering Service
-
507 Tobacco Cafe & Coffee Shop
-
Profile Plan - Personalized Weight Loss Plans (Virtual Location) Wellness Center Wellness Program
-
Budget Blinds of Mankato (Bike/Boat/Book/etc) Store Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael E Nolan · 2 yrs held
Michael E Nolan
since 2023
Last sale
$324,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$56,902
Tax year 2024
Assessed value
$1,897,400
Assessed 2024
Previous assessed
$1,891,900
+0.3% YoY
Effective rate
3.00%
On assessed value
Assessed land
$403,200
Assessed improvement
$1,494,200
Land market value
$403,200
Improvement market value
$1,494,200
Total market value
$1,897,400
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Sale
Year built
2012
Heating
NONE
Buildings
2
Stories
1
Total area
5,852 SF
Lot
1.03 ac (44,867 SF)
APN
R01.09.17.231.016
UPID
US46-1980823
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
Building & site characteristics
From public records
Year built
2012
Heating
NONE
Stories
1
Buildings
2
Lot
1.03 ac
Current owner
From public records · entity-resolved
Michael E Nolan
Individual
Free & Clear · 2 yrs held
Mailing address
1920 S 1ST ST APT #1801, MINNEAPOLIS, MN 55454-1270
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
—
Michael E Nolan
Michael Nolan
Intrafamily Transfer
related
—
Dec 9, 2020
$2,050,000
Michael E Nolan
Rmv Properties LLC
Warranty Deed
$1,640,000 · Bremer Bank
Jun 7, 2012
$324,000
511 Holly LLC
City Of Mankato
Warranty Deed
$700,000 · First National Bank Minnesota
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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