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ONE OF MINNESOTA’S FASTEST GROWING MARKETS

Listing was updated at: 06/03/2019
ONE OF MINNESOTA’S FASTEST GROWING MARKETS

Property Overview

Price/Rent PSF Inquire
Asset Type Retail
Trade Type Sale
SQ. FT. Available 140,013
Date Available 05/22/2019
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Description

Location
The property is located in the Mankato-North Mankato MSA and is approximately 3 miles east of downtown Mankato and 65 miles southwest of downtown Minneapolis. The population within a three-mile radius of the Subject is 33,120 which is an 11.74% increase since 2010. In the same measurement area, the average household income is $68,050 which has increased by 32.3% since 2010. The Mankato area is primarily a college town, anchored by Minnesota State University, with its 15,110 students (Fall 2017) and over 2,000 employees. It is estimated by the City that roughly 20% of graduates stay or return to the area after graduation, which has created significant growth and investment in the area. The largest employers in the area are Mayo Clinic Health System (2,386+ employees), Minnesota State University - Mankato (2,000+), public schools (1,400+), Mankato Clinic (775), and MRCI Industrial Operation (441). The Subject is located in the main retail area, and one mile south of the regional mall, River Hills Mall.

In cooperation with Aaron Goldstein, Licensed Minnesota Broker# 40605893.

Sale
SEALED BID DEADLINE: May 16, 2019

ON-SITE INSPECTIONS: April 16 & April 30 | 1:00pm - 3:00pm

The property is a freestanding, single-tenant retail building built in 2007. It has two entrances on the north facade facing the surface parking. On the west side of the property is the garden center, which is partially covered by a temporary metal roof. There are two Lowe's-owned pad sites along the north edge of this property facing Bassett Drive. The building also has three loading docks at the rear of the building, as well as a fenced staging area for product. The area immediately surrounding the site is made up of retail - mainly to the north - anchored by the River Hills Mall. Area co-tenants include Best Buy, Hobby Lobby, Kohl's, Target and Walmart Supercenter.

Location

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