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2020 Adams St 23,503 SF Retail Building Mankato, MN 56001 $4,963,961 CAD ($211.21 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Long-Term Tenant
- Dominant Retail Corridor
- Strong Market & Demographics
- Adjacent to Top-Performing Hy-Vee Grocery Anchor
- Established Regional Market
- Experienced Industry Ownership
Executive Summary
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.
Property Facts
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Office Depot is a U.S.-based office supply retailer headquartered in Boca Raton, Florida. Founded in 1986, the company was established by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin, who opened the first store in Lauderdale Lakes, Florida. The business expanded through mergers, most notably its 2013 combination with OfficeMax, and further developed contract, retail, and e-commerce operations. The company provides office products, technology solutions, furniture, janitorial supplies, and print services to consumers and businesses. Office Depot operates under The ODP Corporation and maintains a multichannel distribution framework encompassing retail stores, online platforms, and business-to-business operations.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | R01-09-10-301-009 | Improvements Assessment | $1,969,114 CAD |
| Land Assessment | $600,526 CAD | Total Assessment | $2,569,640 CAD |
Property Taxes
Presented by
2020 Adams St
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