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$5,750,000
7039815 MLS
Cherry Square is an apartment complex on the corner of 2nd St. and Cherry St. formerly known as the Inn Towne Motel in the downtown Mankato bar district. It was built in 1950. This 38 unit- 3 story complex is built of pre-stressed concrete and brick. Parking is on the main level under the square shaped building which is elevated on columns. The apartments, consisting of 8 two bedroom units and 30 one bedroom units, went through a total remodel in 2022 and early 2023. There is ample parking on the property for all residents. Building #2 (121 E Cherry St) is a commercial building consisting of 12,663SF which is leased to Menari Body Works. The elevator is shared with the apartment building and the commercial building. Building #3 (117 E Cherry St) is a two story 2,904 SF brick building that has two apartments that are each 4 bedrooms.

500 S 2nd, Mankato

$2,100,000
1 Beds 1 Baths 7039895 MLS
28-unit apartment building investment opportunity! This property features 19 one-bedroom units, 3 two-bedroom units, and 6 studio apartments. Recent improvements include new windows, updated flooring, fresh paint, new doors, tiled hallways, on site laundry area, and select units with upgraded kitchen cabinetry and countertops. While many updates have been completed, the property still offers additional renovation opportunities for a new owner to further enhance value and increase rents. With the ability to update remaining units and place your own tenants, this is an ideal opportunity for investors looking to customize management and maximize returns. Located within walking distance to downtown amenities and public transit.

123 N 4th, Mankato

$2,000,000
7039672 MLS
Positioned at the gateway to one of the fastest growing areas of Mankato, this exceptional development opportunity blends visible commercial potential with built in multifamily demand. Anchored at a prominent roundabout entrance, this site offers terrific exposure and accessibility, ideal for retail, service, grocers, clinics and convenience oriented users looking to capture daily traffic from over 800 new households within blocks. The surrounding neighborhood is rapidly taking shape, with additional high density housing and a middle school driving consistent daytime and evening activity. The offering includes plans for the capacity of 61 multifamily units, creating an immediate on site customer base and long-term value through mixed use synergy. Residents and nearby rooftops benefit from close proximity to other major retail and shopping destinations within one mile, along with convenient access to regional healthcare just 2.7 miles away and Minnesota State University, Mankato only 3.4 miles from the site. Located on the highly desirable east side of Mankato, this corridor continues to see strong residential and commercial expansion, making it a strategic location for forward thinking developers and operators. The site is construction ready July 2026, with infrastructure and grading already included, significantly reducing upfront costs and accelerating your timeline. Mankato serves as a regional hub supporting a trade area of approximately 1.6 million people for employment, shopping, and entertainment in Southern MN and Northern IA, and yet just over an hour to the Twin Cities. This is a rare opportunity to establish a presence at the front door of growth where rooftops, traffic, and demand are already in motion.

3 Market, Mankato

$1,687,598
7032870 MLS
16.21 Acre parcel of land located along a vibrant and busy four-lane highway and the newly extended Adams Street, offering excellent visibility and accessibility for commercial or light industrial use. Its strategic position near a major roadway ensures a constant flow of traffic and provides an ideal platform for businesses looking to establish themselves in a growing and dynamic area. As the area has recently begun developing, there is a sense of excitement and opportunity. New businesses have started to move in, bringing a surge of economic activity and a diverse range of services to the community. Local authorities and municipalities are supporting the growth and development of the area by investing in infrastructure improvements, such as roads and utilities. The presence of the four-lane highway indicates that the region is well-connected and supported by a network of major transportation routes. Given its zoning, the land is ideally suited for a wide range of business types. Potential developments could include manufacturing facilities, warehouses, showrooms or service centers. As the area continues to develop, it presents a promising investment opportunity for those looking to secure a long term stake in a commercial or light industrial hub.

TBD #2 Adams, Mankato

$1,624,350
7031911 MLS
Prime development land in the heart of Hilltop Mankato centrally positioned between Victory Drive, Hwy 14 and Madison Avenue. Located in one of Mankato’s fastest growing commercial districts, these parcels are neighbored by several newer residential communities, retail stores and professional service businesses. Lot 1, Block 2 is zoned in the B-1, Community Business District area and is designed to provide for a broad range of retail developments which are adjacent to residential areas. The district will also accommodate office and institutional uses as well as limited light industry. This parcel is located next to several retail stores and professional service businesses including a large mall, restaurants and banking institutions. Agent is related to sellers.

Lot 1, Block 2 Elwin Addition No. 2, Mankato

$1,500,000
7039671 MLS
Position your brand at the center of growth on the east side of Mankato. This premier commercial site sits at the entrance to a new subdivision delivering 800+ households, with close proximity to a middle school and surrounding high-density residential—creating built-in daily traffic from day one. Designed for a convenience store with car wash, this location offers great visibility and accessibility in one of Mankato’s fastest-growing corridors. Within 1 mile of major retailers and shopping, the site benefits from strong co-tenancy and established consumer patterns, while still capturing untapped neighborhood demand. The property is ideally positioned just 2.7 miles from regional hospitals and clinics and 3.4 miles from Minnesota State University, Mankato, providing a steady flow of commuters, students, and professionals. Construction-ready July 2026, with grading and infrastructure already in place, this site significantly reduces development timelines and upfront costs. Mankato serves as a regional hub for employment, shopping, and entertainment, drawing from a 1.6 million+ trade area, making this an ideal opportunity for operators seeking long-term growth and high-volume potential. Its location also offers convenient access to the Minneapolis–Saint Paul metro, just 1 hour and 15 minutes away. This is a rare chance to secure a high-visibility, high-demand corner in a rapidly expanding market—perfectly suited for a next-generation convenience store and car wash concept.

1 Market, Mankato

$1,274,800
3 Beds 3 Baths 7039156 MLS
Luxury to-be-built home by Deichman Construction on a premier 1.3 acre wooded lot with a walkout basement. This high-end build offers 3 bedrooms, 3 baths (2 full, 1 three-quarter) with 2,138 finished square feet and 4,576 total square feet. Quality features include Cambria countertops, handcrafted cabinetry, Bosch appliances, Andersen windows, and James Hardie siding. The walkout lower level offers space to add 2-3 bedrooms or a fitness room, and an optional sports court located in the lower level, along with room for additional custom spaces. An optional bonus room above the garage is also available. Experience luxury living surrounded by nature-customize your finished and build your dream home with Deichman Construction. Owner/Agent.

1008 Applewood, Mankato

$1,200,000
4 Beds 4 Baths 267040613 MLS
Situated on 2.23 acres, this well-maintained two-story home offers over 4 bedrooms, multiple living and entertaining spaces, and exceptional garage and shop storage. The main level features a dedicated home office, large living and dining areas, and spacious kitchen with granite countertops, stainless steel appliances, abundant cabinetry, and informal dining. Just off the kitchen, enjoy a comfortable living area with a fireplace and a stunning four-season sunroom filled with natural light and backyard views. Upstairs, the primary suite offers a private full bath, double vanity, and walk-in closet. Two additional bedrooms, a full bath, and a versatile flex room above the garage provide space for a playroom, media room, fitness area, guest suite, or second office. The finished lower level includes a fourth bedroom with a walk-in closet, spacious recreation and entertainment areas, bar space, storm shelter, and ample storage. Outside you’ll find an attached 3-stall garage, detached workshop/shop, and an additional detached garage—ideal for vehicles, hobbies, toys, or equipment. Shed/shop size is 50 x 80 and the extra garage size is a single stall. 50x36 of that space is heated. Over head doors are 11 ft and 14 ft. Enjoy the privacy of acreage living served by private well and septic. A rare combination of space, storage, flexibility, and location.

58049 227th, Mankato

$1,199,000
1 Baths 7039443 MLS
Prime Victory Drive commercial opportunity with outstanding visibility and frontage road access. Average daily traffic count of approximately 17,500 vehicles provides exceptional exposure for retail, service, or light industrial use. This versatile property is divided into multiple functional spaces. The retail and showroom area offers approximately 6,000 square feet and includes three private offices, storage, a kitchenette, and a recently updated ADA compliant bathroom. The current owner operated business is relocating, not closing, creating an excellent opportunity for an owner occupant or investor. The front portion of the building features approximately 5,000 square feet leased to a martial arts studio with a three year lease in place, providing steady income. The warehouse space consists of approximately 4,800 square feet with eight overhead doors ranging from 10 to 14 feet in height. Portions of the warehouse are heated, offering flexibility for storage, distribution, or additional rental income potential. Situated on a .82 acre lot, the property provides ample access and functionality. Two new furnaces have recently been installed. Strong rental potential, flexible layout, and a premier location make this a rare Victory Drive opportunity.

219 S Victory, Mankato

$1,195,000
3 Beds 2 Baths 7039849 MLS
Fully renovated and fully occupied 4-unit townhome property offers both modern appeal and immediate income stability. Each spacious unit features 3 bedrooms and has been thoughtfully updated from top to bottom. Recent improvements include stainless steel appliances, updated plumbing and lighting, new fixtures throughout, with high-efficiency mechanicals—furnace, A/C condenser, and tankless water heater. The interiors showcase stylish finishes with new tile flooring, plush carpet, fresh paint, and beautifully updated kitchens complete with new cabinetry and granite countertops. Bathrooms feature elegant marble vanities, and each unit includes its own high-efficiency washer and dryer for added convenience. Additional amenities include a single-stall garage with keyless entry and a private rooftop deck with maintenance-free decking. Each unit generates top market rents, with tenants responsible for all utilities, making this a turnkey, low-maintenance investment with solid cash flow.

412 Holly, Mankato

$1,175,000
4 Beds 5 Baths 267040990 MLS
Timeless elegance meets exceptional craftsmanship in this stunning Tudor-style home, offering over 6,600 total square feet across three levels. Perfectly situated on a picturesque 0.65-acre ravine lot overlooking Rasmussen Woods, this extraordinary property offers exceptional privacy, beautifully landscaped grounds, and a breathtaking views year-round. The main level features a grand foyer with heated flooring through-out the main level, sunken formal living room with wood-burning fireplace & beamed ceilings. French doors open to a private study with direct access to the backyard, while the adjoining mudroom features custom built-in lockers, Kasota stone accent walls, and convenient access to the heated three-stall garage with an upper-level storage area or future finished living space. The gourmet kitchen is designed to impress, featuring Cambria quartz countertops, GE Café appliances, a built-in coffee bar, a spacious center island with a beverage refrigerator, and a walk-in pantry. The adjoining breakfast nook opens to the expansive 114' x 42' stone patio, creating a seamless transition to outdoor living. Completing the main level are a spacious family room, formal dining room, and half bath. Upstairs, the spacious primary suite features a vaulted ceiling with a stunning chandelier, hardwood flooring, and views of the backyard. The spa-inspired ensuite bath offers a clawfoot soaking tub, a beautifully tiled walk-in shower, dual vanities, and a generous walk-in closet. Three additional bedrooms complete the second level, including one with a private three-quarter ensuite bath, along with a full hall bath and conveniently located laundry. The finished third floor offers a spacious bonus area, providing endless possibilities as a media room, game room, home gym, playroom, or additional living space. The lower level features a large family room with a wood-burning fireplace, a wet bar, and a full bath complete with a jetted soaking tub and tiled walk-in shower. With many recent updates throughout, this exceptional home is move-in ready and an opportunity you won’t want to miss!

111 Dell, Mankato

$960,000
7039764 MLS
Shovel ready building pad for up to 80 units in Building 6 with 24,268 SF and 120 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

6 Aveyda, Mankato

$960,000
7039763 MLS
Shovel ready building pad for up to 80 units in Building 5 with 24,268 SF and 120 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

5 Aveyda, Mankato

$895,000
3 Beds 2 Baths 267040871 MLS
Welcome to Siesta Hills, Mankato's premier Active Lifestyle Community, where quality craftsmanship meets modern comfort. This beautiful home is currently under construction, offering a rare opportunity to personalize many of the finishing touches and create a home that reflects your style. Designed with effortless main-level living, this home features 2,589 square feet on the main floor with 3 bedrooms, 2 bathrooms, and an oversized 3-car garage. The open-concept floor plan showcases soaring ceilings, luxury vinyl plank (LVP) flooring, a custom-designed kitchen, heated floors, and a spacious primary suite complete with a large walk-in closet and a luxurious private bath. One of the biggest advantages of purchasing during construction is the ability to select your own kitchen colors, cabinetry finishes, trim, countertops, and exterior color palette, allowing you to customize the home to your personal taste. The unfinished 520-square-foot upper level offers outstanding flexibility. Finish the space to add an additional bedroom, bathroom, and family room, bringing the home to over 3,100 square feet of living space, or leave it unfinished for abundant storage. Located on the south side of Mankato, Siesta Hills offers an exceptional lifestyle with beautifully landscaped surroundings, paved walking trails, and a spectacular residents-only clubhouse featuring indoor and outdoor swimming pools, a spacious fitness center, golf simulator room, pickleball courts, locker rooms, entertainment and gathering spaces, and so much more. Don't miss the opportunity to own a brand-new, customizable home in one of Mankato's most desirable communities. Call today for more information or to schedule your private tour!

1010 Bitterend, Mankato

$874,800
5 Beds 5 Baths 7040076 MLS
Welcome to this prairie-style 5 bedroom, 5 bath home with a 2-stall garage, designed for gracious living and effortless entertaining. A spacious living room showcases vaulted ceilings, a striking fireplace, and a wall of windows that flood the space with natural light while highlighting the home’s clean, horizontal architecture. Just off the garage, a large mudroom with built-ins and ample closet storage provides a practical and organized everyday entry. Adjacent to the living room, the thoughtfully designed kitchen features abundant cabinetry, a walk-in pantry, professional-grade appliances, a large center island with sink, an additional prep sink, and a discreet appliance garage. A formal dining room nearby creates a seamless flow for hosting, while a conveniently located main-level powder bath adds functionality. The main floor also includes a private office and a comfortable media lounge that connects to a dedicated piano or music room—versatile spaces ideal for work, relaxation, or creative use. Upstairs, the primary suite offers a private balcony, a serene en-suite bath with a soaking tub and walk-in shower, and direct access to an oversized walk-in closet. The laundry room is also conveniently located on this level. Two additional bedrooms each feature their own private bath and walk-in closet. The walkout lower level expands the home’s living and entertaining space with a large family room, a well-positioned bar area, a 3/4 bath, and two additional bedrooms—one of which is ideal for a home gym, guest suite, or hobby room. Outside, the expansive yard backs to a natural ravine, offering both privacy and scenic views. Multiple terraced areas are designed for outdoor entertaining, perfect for dining, relaxing, and gathering. Thoughtful landscaping, abundant natural light, and a seamless indoor-outdoor connection reflect the home’s Prairie-style design and enhance its overall livability.

117 Sienna, Mankato

$864,000
7039766 MLS
Shovel ready building pad for up to 72 units in Building 10 with 26,067 SF and 108 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

1 Aveyda, Mankato

$864,000
7039765 MLS
Shovel ready building pad for up to 72 units in Building 7 with 26,067 SF and 108 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

4 Aveyda, Mankato