2020 Adams St · Mankato, MN 56001 · Specialty Retail
We run the asking price and cap rate against a network of 7,000+ lenders to return indicative terms, then package a lender memorandum. Takes about two minutes and we will need your target leverage and timing.
Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.
Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.
Long-Term Tenant –
Office Depot/OfficeMax has operated at this location for many years. The tenant has approximately two (2) years remaining on the current lease term, followed by four (4) five-year renewal options with scheduled rent increases in each option period and limited landlord responsibilities.
Adjacent to Top-Performing Hy-Vee Grocery Anchor –
The property is located next door to a high-performing Hy-Vee grocery store, ranked in the 96th percentile nationwide and the top location in Minnesota according to Placer.ai.
Dominant Retail Corridor –
Strategically positioned within Mankato’s primary retail corridor near the heavily trafficked junction of Highways 14 and 22, the property benefits from exceptional visibility and accessibility. The surrounding trade area includes a strong lineup of national retailers such as Target, Walmart, Sam's Club, Best Buy, and many others.
Established Regional Market –
Located in Mankato, the property benefits from the city’s role as a regional hub for south-central Minnesota and northern Iowa, serving approximately 1.6 million people within a 60-mile radius. Mankato is home to Minnesota State University, Mankato, the second-largest university in the state by enrollment.
Strong Market & Demographics –
The Mankato–North Mankato MSA has a population of just over 100,000 residents with steady historical growth. The population within a 10-mile radius exceeds 75,000, with average household incomes above $90,000. Key employment sectors include manufacturing, education, and healthcare.
Experienced Industry Ownership –
Atlas Holdings — Office Depot’s new private equity owner as of December 2025 — and its affiliates comprise a diversified group of 27 manufacturing and distribution businesses, including many in paper and packaging, bringing sector-specific expertise that aligns with Office Depot’s core product mix.
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Property details and lease terms are open. Photography, the offering memorandum, lease abstract and due diligence materials are shared with registered buyers.
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Asking-market observation aggregated from public listing sources, last observed Sep 25, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.