424 Riverfront DrMankato, MN 56001

Property Details for 424 Riverfront Dr

Year built

1967

Lot size

1.45 AC

Property size (Sq ft)

26,318 SF

Property type

Office buildings

APN

R01.09.07.376.013

APU

R010907376013

Description

The Hubbard Building offers 30,000 square feet of Class B office space in downtown Mankato, Minnesota. This renovated building features a mix of traditional and creative office spaces, available in sizes ranging from 70 to 3,500 contiguous square feet, with a total of 26 suites. Currently, 10,741 square feet are vacant, offering multiple tenancy opportunities. Amenities include a state-of-the-art conference room, ample parking (140 spaces), and proximity to a Food Truck Hub. The building boasts modern design common areas, a hydroponic plant wall, and solar panel energy. Its location on Riverfront Drive in Old Town Mankato provides high visibility with 20,000 vehicles passing daily. Situated less than two miles from Highway 14, the property is in the heart of Mankato's central business district, near various dining, hospitality, and retail options. The building also benefits from a partnership with Minnesota State University, Mankato, fostering a vibrant and innovative atmosphere. This property is ideal for businesses seeking a modern, well-located office space in a thriving downtown environment. The building is located at 424 N Riverfront Dr, Mankato, MN 56001, in Blue Earth County.

• CAP approach

  CAP return

  Valuation

  6%

  $4,909,860

  6.5%

  $4,532,180

  7%

  $4,208,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,343,270

  Geo Method

  $1,343,270

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,122,390

  Retail / Commercial

  $4,638,850

  Mixed-Use / Specialty

  $4,591,530

  Hospitality / Lodging

  $3,328,570

  Institutional / Educational

  $4,762,330

  Residential Income

  $5,571,930

  Multifamily

  $6,853,340

  Automotive / Energy

  $4,082,000

  Parking / Income-Based Land

  $1,439,060

  Restaurant / Food Service

  $2,322,380

  Healthcare / Senior Housing

  $4,740,090

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.171

Longitude

-93.9999

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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