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River Place Center 1809-1859 Adams St 47,136 SF 98% Leased 4-Star Retail Building Mankato, MN 56001 $9,950,000 ($211.09/SF) 7.22% Cap Rate
Executive Summary
Anchored by Planet Fitness, this is one of the busiest (if not the busiest) retail centers in Mankato. It is located directly across the street from River Hills Mall which draws shoppers from as far as northern Iowa. There are a total of 9 different tenants in the 47,000 SF center. Other neighborhood tenants include Best Buy, Wing Stop and (coming soon) Chick Fil A.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
47,136 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1995
Price
$9,950,000
Price Per SF
$211.09
Cap Rate
7.22%
NOI
$718,254
Percent Leased
98%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
3.59 AC
Zoning
B2 General Business
Parking
193 Spaces (4.09 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1849
- 2,020 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1849 | 2,020 SF | Retail | - | Now |
1849
| Size |
| 2,020 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R01-09-09-477-003 | Improvements Assessment | $4,695,300 |
| Land Assessment | $625,500 | Total Assessment | $5,320,800 |
Property Taxes
Parcel Number
R01-09-09-477-003
Land Assessment
$625,500
Improvements Assessment
$4,695,300
Total Assessment
$5,320,800
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Contact the Sale Advisor
River Place Center | 1809-1859 Adams St