Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    931 Madison Ave Mankato, MN 56001-6141

    • Retail residential properties
    • 7,714 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-1950279
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Next-Level Counseling / Counselor
    • Landmark Manager / Property Management Company
    • Siesta Hills Realty / Real Estate Agency
    • Judy Ringler Mountain, Registered Representative - New York Life / Financial Planner / Life Insurance Agency
    • Care Transport Services / Handicapped Transportation Service

    Property Details for 931 Madison Ave

    Year built
    1968
    Lot size
    0.23 lot acres
    Property size
    7,714 SF
    Property type
    Retail residential properties
    APN
    R01.09.17.127.020
    APU
    R010917127020

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,130,000
      6.5%
      $1,040,000
      7%
      $965,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,071,000
      Market price range: $433k - $1.07M
      AI Estimate
      $758,000
      Market price range: $221k - $798k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $725,000
      Current use
      OFFICE BUILDING
      $985,000
      Change: +36% Conversion: Easy
      RETAIL STORES
      $835,000
      Change: +15% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Blue Earth
    State
    Minnesota
    Longitude
    -93.9809
    Latitude
    44.1665
    CBSA code
    31860
    CBSA name
    MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $16,074
    $88,600
    $641,600
    $730,200
    -
    $88,600
    $641,600
    $730,200

    Comparable in this City

    • Value Estimation
      $1,620,000
      27,501 SF

      121 Main St

      STORES & APARTMENTS • 27,501 SF
      121 Main St, Mankato, MN 56001-3502
      View Details
    • Value Estimation by Request
      2,904 SF

      117 Cherry St

      STORES & APARTMENTS • 2,904 SF
      117 Cherry St, Mankato, MN 56001-3710
      View Details
    • Value Estimation
      $795,000
      10,296 SF

      635 Frnt St

      STORES & APARTMENTS • 10,296 SF
      635 Frnt St, Mankato, MN 56001-3802
      View Details
    • Value Estimation by Request
      2,760 SF

      317 2nd St

      STORES & APARTMENTS • 2,760 SF
      317 2nd St, Mankato, MN 56001-3511
      View Details
    • Value Estimation by Request
      1,966 SF

      56900 243rd Ln

      OFFICE/RESIDENTIAL (MIXED USE) • 1,966 SF
      56900 243rd Ln, Mankato, MN 56001-5379
      View Details
    • Value Estimation by Request
      9,829 SF

      340 Stadium Rd

      Multifamily properties • 9,829 SF
      340 Stadium Rd, Mankato, MN 56001
      View Details

    Similar Nearby for Sale

    • $4,800,000
      9,829 SF

      Mankato Mixed-Use Apartment Building

      High-Yield Investment Opportunity: 20 Units, 6.38% Cap Rate
      340 Stadium Rd, Mankato, MN 56001
      View Details
    • $450,000
      3,168 SF

      Mankato Mixed-Use Investment Opportunity

      Mixed-use property with coffee shop and apartments in downtown Mankato.
      329 N Riverfront Dr, Mankato, MN 56001
      View Details
    • $795,000
      6,952 SF

      Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in Mankato.
      521 North Riverfront Dr, Mankato, MN 56001
      View Details
    • $4,800,000
      29,484 SF

      Mixed-Use Building Near MSU Campus

      Mixed-use property near MSU campus with on-site parking.
      340 Stadium Rd, Mankato, MN 56001
      View Details
    • $2,510,000
      11.52 Acres

      Madison Avenue Commercial Land

      Prime Mankato commercial land, 11.52 acres.
      2050 Madison Ave, Mankato, MN 56001
      View Details
    • $1,150,000
      4.22 Acres

      Excel Drive Commercial Land

      Mankato, MN: 4.22-acre commercial lot
      0 Excel Dr, Mankato, MN 56001
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      1,322 SF

      Highway 169 Commercial Spaces Available

      New construction mixed-use property with retail and office spaces for lease.
      1247 Range St, Mankato, MN 56001
      View Details
    • Contact for pricing
      1,852 SF

      Class A Mixed-Use Space

      Class A mixed-use space with downtown parking and panoramic views.
      201 N Riverfront Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      69,000 SF

      Mankato Office Suite - Bridge Plaza

      Downtown Mankato office space, 1,535 sq ft.
      201 Riverfront Dr, Mankato, MN 56001
      View Details
    • $16 SF/Yr
      64,000 SF

      Madison Ave. Mankato Commercial Space

      Prime Mankato location, 37,000 SF available.
      1531 Madison Ave, Mankato, MN 56001
      View Details
    • $95 SF/Yr
      60,000 SF

      Mankato Industrial Land Development

      18-Acre Industrial Land, Build-to-Suit Options
      1759 Energy Dr, Mankato, MN 56001
      View Details
    • Contact for pricing
      4,000 SF

      Executive Office Suite, Mankato

      1,940 SF Office Space Available Now
      151 St Andrews Ct, Mankato, MN 56001
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    931 Madison Ave
    Mankato, MN 56001-6141
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.