921 Madison Ave Mankato, MN 56001-6141
This exceptional 8,322 square foot commercial building, constructed in 2015, is strategically located on one of Mankato's busiest streets, boasting 30,000 vehicles per day at the Madison Avenue & Dane Street intersection. Its prime location offers unparalleled visibility, situated adjacent to Community Bank and just a block from Mayo Clinic Health Systems Hospital and Mankato Clinic. The property comprises two distinct units. Unit #1, a 2,859 square foot space, is currently leased to Aerotek and features a sophisticated build-out including in-floor heating, high ceilings, and 8-foot high doors. Unit #2, a 5,463 square foot space, is available for lease. Previously occupied by Med Express, this turnkey space boasts a high-end medical build-out completed only three years ago, representing a build cost exceeding $1 million today. This presents a rare opportunity to acquire a well-situated, high-quality commercial property in a thriving Mankato location with significant potential for immediate income and future growth. The brick building is a solid investment in a high-traffic area with excellent proximity to major medical facilities and banking institutions. The existing tenant in Unit #1 provides a stable income stream, while the vacant Unit #2 offers immediate leasing potential. This property is priced at $2,100,000.
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Aerotek Employment Agency
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MARLENE BARNES, CENTURY 21 LANDMARK REALTORS Real Estate Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
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