124 Walnut StMankato, MN 56001

Property Details for 124 Walnut St

Year built

1936

Lot size

0.25 AC

Property size (Sq ft)

33,120 SF

Property type

Office buildings

APN

R01.09.18.126.005

APU

R010918126005

Description

The Landkamer Building, a stunning Class A office property located at 124 E Walnut St, Mankato, MN 56001, offers 33,301 square feet of prime office space in Mankato's vibrant downtown commercial district. Built in 1936 and completely renovated in 2005, this building showcases a magnificent art deco style, highlighted by a lobby featuring a water feature and custom light fixture. Currently, there are multiple tenancies available, ranging from a minimum of 220 square feet to a maximum contiguous space of 2,558 square feet, with a total of 5,988 square feet currently vacant. The property sits on a 0.25-acre lot and is zoned CBD-C. Tenants benefit from free covered parking and a separate guest parking lot. The building's central location provides easy access to numerous amenities, including the Mayo Clinic Health System Event Center, various hotels, the City Art Walk Sculpture Tour, Vetter Stone Amphitheatre, and a wealth of restaurants, cafes, shops, and nightlife options within walking distance. Landlord incentives may be offered based on lease terms. This exceptional property presents a unique opportunity for businesses seeking a prestigious and convenient location in the heart of Mankato.

• CAP approach

  CAP return

  Valuation

  6%

  $5,451,917

  6.5%

  $5,032,539

  7%

  $4,673,072

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,690,445

  Geo Method

  $1,690,445

• Alternative Use

  Use

  Valuation

  Residential

  $6,240,348

  Hospitality

  $5,716,126

  Educational

  $4,755,749

  Medical

  $4,919,306

  Retail

  $7,397,832

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.1662

Longitude

-94.0024

CBSA code

31860

CBSA name

MANKATO-NORTH MANKATO, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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