Riverfront Plaza

Highlights:

• The Property has had a history of healthy occupancy and strong tenant demand.
• Rent roll consists of service-based tenants that are resistant to e-commerce competition and market disruptions.
• The property benefits from its direct visibility off Highway 169 the major thoroughfare connecting Mankato to the Twin Cities.
• Riverfront Plaza is shadow anchored by Cub Foods and is located at one of the main points of access to the grocery store.
• College Town - Mankato is home to Minnesota State University which has enrollment of over 13,000 Students.
• The acquisition price of the building is significantly below replacement cost. Additionally, rent throughout the center is priced at or below market.
• The property is located at the shared intersection of Mankato West High School and the YMCA both major traffic drivers to the trade area.

Description:

CBRE is pleased to present qualified investors the opportunity to acquire Riverfront Plaza in Mankato, MN. This single story 3,724 square foot retail center was fully renovated in 2016 and is fully occupied by three tenants. The property is well positioned at the signalized intersection of S River Front Drive and Poplar Street. The building benefits from its direct visibility off Highway 169 (31,000+ vpd) the main thoroughfare that connects Mankato to the Twin Cities. The immediate trade area is further enhanced by major traffic drivers including Cub Foods, Mankato West High School, The YMCA, and several new high density residential developments.

Riverfront Plaza is 100% occupied and has a history of strong tenant demand. The rent roll consists of service-based tenants that are resistant to E-commerce competition and market disruptions. The asking price is significantly below replacement cost and rent is set to market or below market levels. This stabilized retail center offers a new owner attractive in-place income from a well-balanced rent roll. In addition to the desirable returns a new owner will also benefit from the long-term appreciative value this location and trade area have to offer.

Mankato, MN is located approximately 80 miles southwest of the Twin Cities. With a population of 47,000+ residence Mankato serves as an economic and employment hub for many surrounding communities in Southern MN. The city is also home to Minnesota State University Mankato which has 2025 enrollment of 13,000+ students.

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