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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Flex space
600 Smt Ave Mankato, MN 56001-2710
Entity Owned
15-yr Hold
Free & Clear
Property ID
US46-1878305
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2011
Total area
16,000 SF
Lot
9.71 ac (422,968 SF)
APN
R01.04.31.300.013
UPID
US46-1878305
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
-
Mankato Energy Center Power Station
-
Nationwide Ignition Interlock Building Supply General Contractor
-
Affordable Towing of Mankato, Inc. Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$877k
Blend (final)
Blend
$930k
Owner & transaction history
Brick Commercial Properties LLC · 15 yrs held
Brick Commercial Properties LLC
since 2011
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.5M
+194.1%
Warehouse, storage
$1.5M
+187.6%
Office building
$1.4M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,510,000
Change: +194% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,475,000
Change: +188% · Conversion: Easy
OFFICE BUILDING
$1,430,000
Change: +179% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,040,000
Change: +103% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,010,000
Change: +97% · Conversion: Easy
RETAIL STORES
$920,000
Change: +79% · Conversion: Moderate
MEDICAL BUILDING
$920,000
Change: +79% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10%
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
$58 / 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
$46,502
Tax year 2024
Assessed value
$1,759,500
Assessed 2024
Previous assessed
$1,770,000
-0.6% YoY
Effective rate
2.64%
On assessed value
Assessed land
$634,500
Assessed improvement
$1,125,000
Land market value
$634,500
Improvement market value
$1,125,000
Total market value
$1,759,500
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2011
Heating
NONE
Stories
1
Total area
16,000 SF
Lot
9.71 ac (422,968 SF)
APN
R01.04.31.300.013
UPID
US46-1878305
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
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$920,000
MEDICAL BUILDING
Est. value
$920,000
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
2011
Heating
NONE
Stories
1
Lot
9.71 ac
Current owner
From public records · entity-resolved
Brick Commercial Properties LLC
Entity
Free & Clear · 15 yrs held
Mailing address
600 SMT AVE, MANKATO, MN 56001-2710
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2020
—
Brick Commercial Properties Ll
—
Deed
related
$2,319,808 · First National Bank Mn
Feb 23, 2018
—
Brick Commercial Properties
—
Deed
related
$667,500 · First National Bank Mn
May 10, 2011
$450,000
Brick Commercial Properties LLC
Summit Investors Of Mankato LLC
Contract Sale
—
Jul 31, 2009
$450,000
Brick Commercial Properties LLC
Summit Investors Of Mankato LLC
Other
—
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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