220 Main StMankato, MN 56001

Property Details for 220 Main St

Year built

1949

Lot size

0.61 AC

Property size (Sq ft)

14,722 SF

Property type

Office buildings

APN

R01.09.07.382.008

APU

R010907382008

Description

Midtown Square, located at 220 E Main St, Mankato, MN 56001, presents a compelling investment opportunity. This two-story, 14,722 square foot Class B executive office building boasts a prime location in Blue Earth County. Built in 1949 and extensively renovated in 2020, the property features a beautiful brick exterior with modern paneling and a newly updated entryway. The building is currently 100% occupied, offering immediate cash flow. Amenities include a convenient elevator servicing all floors, ample off-street parking, and a well-maintained HVAC system. Signage opportunities are available out front. The property also includes a loading dock and elevator access to a finished basement, adding to its functionality and appeal. This net-leased investment is ideal for those seeking established regional office space with strong occupancy rates and recent renovations. The property's excellent condition and desirable location make it a highly attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $2,423,404

  6.5%

  $2,236,988

  7%

  $2,077,203

• Comparable approach

  Method

  Valuation

  Relative Method

  $751,411

  Geo Method

  $751,411

• Alternative Use

  Use

  Valuation

  Residential

  $2,773,865

  Hospitality

  $2,540,845

  Educational

  $2,113,954

  Medical

  $2,186,656

  Retail

  $3,288,372

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.1667

Longitude

-94.0002

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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