2132-2160 Hoffman Road, Mankato, MN 56001
sale
$2,500,000
|
Commercial
Courtesy Of Landmark Realtors LLC
For Sale: New Opportunity for retail center/multifamily buyers. The Village East strip mall is 22,136 SF while Happy Dan s is 2,334 SF. This property is 2 miles from Minnesota State University and has value add potential of 30 apartments to be built on top of the retail center. There are 12 commercial tenants in the building giving the new buyer good diversification. The asking price is $2.5 million. The current gross rents for the entire property are estimated at $290,933 for 2023 and a cap rate of approximately 8% as-is without adding the apartments. The current operator of Happy Dan s would continue their operations and lease the building from the new owner. This property has had a very strong rental history and the forecast also looks strong. Call Landmark Real Estate for showings. Rent roll available upon signing a NDA
Read More About This Property
Read Less About This Property
Copyright © 2023 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- Building Units: 12
- Exterior Type: Brick
- Heating System: Forced Air
- Legal Description: DEREMER SUB #2 LTS 2 & 3 EX BGSWCORLOT3E110'N104'W100' SW TO BEG 000 001 00 & DEREMER SUB DIV #2 BEG @ SW COR OF LOT 3 E110' N104' W100' SW TO BEG 000 001 00
- MLSID: 7032140
- Roof Type: Unknown
Data powered by Attom Data Solutions. Copyright© 2023. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$3,085,000
Commercial
921-931 Madison Avenue
Mankato, MN 56001
Courtesy Of Landmark Realtors LLC
sale
$2,026,847
Commercial
TBD Adams Street
Mankato, MN 56001
Land: 16.93 Acres
Courtesy Of RE/MAX Dynamic Agents
lease
$7,284
Office
921 Madison Avenue Suite 102
Mankato, MN 56001
Building: 5,463 sq. ft.
Courtesy Of Landmark Realtors LLC
lease
$5,936
Commercial
915 S Front Street
Mankato, MN 56001
Courtesy Of Landmark Realtors LLC