515 Riverfront DrMankato, MN 56001

Property Details for 515 Riverfront Dr

Year built

1922

Lot size

0.44 AC

Property size (Sq ft)

14,962 SF

Property type

Office buildings

APN

R01.09.07.406.027

APU

R010907406027

Description

This exceptional 672-square-foot creative office space is ideally situated on the ground floor of Frost Plaza in the vibrant Old Town Mankato, directly on Riverfront Drive. Perfect for a studio or small office, this single-tenant space offers a flexible layout featuring a large open area, a private office, and the potential to create two additional rooms. The unit includes a convenient en-suite breakroom equipped with a sink, refrigerator, and ample storage. Handicap-accessible restrooms are conveniently located just down the hall. The monthly rent is $1200, encompassing a gross lease structure that includes utilities and parking, making budgeting simple and predictable. This prime location offers unparalleled access to the energy and amenities of Old Town Mankato, providing a dynamic and inspiring work environment. The space's versatility makes it suitable for a variety of businesses seeking a well-appointed and conveniently located office in a thriving community. Don't miss this opportunity to secure this exceptional space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,462,910

  6.5%

  $2,273,456

  7%

  $2,111,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $763,660

  Geo Method

  $763,660

• Alternative Use

  Use

  Valuation

  Residential

  $2,819,085

  Hospitality

  $2,582,266

  Educational

  $2,148,416

  Medical

  $2,222,303

  Retail

  $3,341,980

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.1714

Longitude

-93.9983

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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