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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Retail space
611 Riverfront Dr Mankato, MN 56001-3452
Entity Owned
7-yr Hold
Free & Clear
Property ID
US46-3153956
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1894
Total area
5,184 SF
Lot
0.16 ac (6,952 SF)
APN
R01.09.07.405.005
UPID
US46-3153956
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
-
Kawatani Dojo Training Center Sports School
-
Allstate Insurance Agency
-
Divine Echoes Esoterica (Bike/Boat/Book/etc) Store
-
The Blackbird Boutique Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$690k
Blend (final)
Blend
$500k
Owner & transaction history
Rjm Properties LLC · 7 yrs held
Rjm Properties LLC
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$665,000
+18.1%
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
RETAIL STORES
$560,000
Current use
OFFICE BUILDING
$665,000
Change: +18% · Conversion: Easy
COMMERCIAL (GENERAL)
$485,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$96 / 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
$14,884
Tax year 2024
Assessed value
$647,700
Assessed 2024
Previous assessed
$674,400
-4.0% YoY
Effective rate
2.30%
On assessed value
Assessed land
$39,400
Assessed improvement
$608,300
Land market value
$39,400
Improvement market value
$608,300
Total market value
$647,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1894
Heating
NONE
Stories
2
Total area
5,184 SF
Lot
0.16 ac (6,952 SF)
APN
R01.09.07.405.005
UPID
US46-3153956
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
RETAIL STORES Current
Est. value
$560,000
OFFICE BUILDING
Est. value
$665,000
COMMERCIAL (GENERAL)
Est. value
$485,000
RETAIL STORES Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1894
Heating
NONE
Stories
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Rjm Properties LLC
Entity
Free & Clear · 7 yrs held
Mailing address
6274 GINGER DR, EDEN PRAIRIE, MN 55346-1417
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
Evoke Interiors LLC
—
Deed
related
$343,400 · Citizens Community Bank
Jan 9, 2020
—
Rjm Properties LLC
—
Deed
related
$330,000 · Minnstar Bank NA
Sep 28, 2018
$430,000
Rjm Properties LLC
Mead Real Est Investments LLC
Warranty Deed
—
Sep 14, 2018
—
Mead Real Estate Investment Ll
—
Deed
related
$17,553 · Mankato City (mn)
Oct 17, 2016
—
Mead Real Estate Investments LLC
—
Deed
related
$80,000 · Minnstar Bank NA
Apr 15, 2015
$321,000
Mead Real Est Investments LLC
Katie K Engelmann
Warranty Deed
—
Aug 12, 2008
$197,000
Katie K Engelmann
John L Goranson
Warranty 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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