1850 Adams StMankato, MN 56001

  • Other commercial real estate
  • 431,029 SF
For Lease
$1/SF/YR View listing

Property Details for 1850 Adams St

Year built
1991
Lot size
31.57 AC
Property size (Sq ft)
431,029 SF
Property type
Other commercial real estate
APN
R01.09.09.426.044
APU
R010909426044

Description

This exceptional 71,046 square foot anchor space is available within River Hills Mall, Minnesota's fifth-ranked shopping center, boasting 4.5 million annual visits and an average visit duration of 60 minutes. Strategically located in the West Corridor, adjacent to Barnes & Noble and near Scheels, this former Herbergers space offers three exterior entrances plus a mall entrance, providing unparalleled visibility and accessibility. The space includes approximately 8,500 square feet of sales floor, 1,800 square feet of backroom space, restrooms, and a salon washroom. Features include a 21' 9" ceiling height, generous parking, men's and women's restrooms, and a modern, well-lit interior with large windows offering 91 feet of frontage. The property benefits from its prime location at the intersection of Highways 22 and 14, ensuring high traffic and convenient access. River Hills Mall is a thriving destination, anchored by strong retailers such as JCPenney, Target, and Scheels, and complemented by a Cinemark movie complex, food court, and family-friendly amenities. Mankato's robust economy, fueled by agriculture, healthcare, manufacturing, retail, and higher education, further enhances the property's investment potential. The Mankato-North Mankato MSA, encompassing Blue Earth and Nicollet counties, boasts a population of 103,566, with a larger regional draw of 287,175 people. This presents a unique opportunity to establish a flagship presence in a rapidly growing market. Eleven individual spaces are available within the larger anchor space, offering flexibility for various business models. The property's proximity to the Carousel Cafe and other popular retailers, including Asian Wok and Berry Blendz, adds to its appeal. Existing cash wrap and built-in standards are also included.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $81,212,888
    Hospitality
    $74,390,576
    Educational
    $61,892,084
    Medical
    $64,020,648
    Retail
    $96,276,576
1850 Adams St, Mankato, Minnesota

Location Insight

City
Mankato
County
Blue Earth
State
Minnesota
Latitude
44.1728
Longitude
-93.9544
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
$679,594
$5,500,100
$22,517,700
$28,017,800
-
$5,500,100
$22,517,700
$28,017,800

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