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PREMIUM OUTPARCEL IN MAIN RETAIL SUBMARKET

Listing was updated at: 06/10/2019
PREMIUM OUTPARCEL IN MAIN RETAIL SUBMARKET

Property Overview

Price/Rent PSF Inquire
Asset Type Land
Trade Type Sale
Acres Available 1.55
Date Available 06/10/2019
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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. The Mankato area is primarily 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 into the area. The unemployment in the area (2.2%), lower than both the Minnesota rate (3.1%) and the U.S. rate (4.0%). The largest employers in the area are Mayo Clinic Health System (2,386+ employees), Minnesota State University - Mankato (2,000+), public schools (1,400+). 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
ONLINE AUCTION: May 16, 2019
OPENING BID PRICE: $140,000

This property is a vacant parcel of retail land, located approximately 65 miles southwest of Downtown Minneapolis, MN. The property has two entrances on each side of the parcel from Bassett Drive, but curb cuts would need to be created. The property is adjacent to a side road (Bassett Drive) and is the third parcel east of State Highway 22 (16,800+ VPD). The area immediately surrounding the property 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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