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329 N Riverfront Dr 3,168 SF 100% Leased Retail Building Mankato, MN 56001 $489,000 ($154.36/SF)
Investment Highlights
- 100% Occupancy with long rental history
- New Roof (2020)
- $150,000+ interior improvements in last 10 years
- 3-Unit Property
- New Air Conditioner + Drainage Pipe Lining
Executive Summary
Own a piece of Mankato's history downtown. This mixed-use property has one of Mankato's longest running coffee shops and two 1-bedroom apartments on the second level. With an excellent rental history, the property's tenants are fully vetted with background and credit checks and has room for value-add improvements for an ambitious owner. New roof in 2020. Commercial tenant's lease is Triple Net and renewed for three years (2025-2028).
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,168 SF
Building Class
B
Year Built/Renovated
1891/2020
Price
$489,000
Price Per SF
$154.36
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.17
Lot Size
0.06 AC
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | R01-09-07-378-001 | Improvements Assessment | $429,400 |
| Land Assessment | $17,700 | Total Assessment | $447,100 |
Property Taxes
Parcel Number
R01-09-07-378-001
Land Assessment
$17,700
Improvements Assessment
$429,400
Total Assessment
$447,100
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Contact the Sale Advisor
329 N Riverfront Dr