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500 S 2nd, Mankato
$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

123 N 4th, 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

3 Market, Mankato
$2,000,000
267041749 MLS
Certified pad, utilities stubbed, fees paid. 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. 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

TBD Us Hwy 14, Mankato
$1,997,771
267041622 MLS
This 12.23-acre parcel offers a rare opportunity in Mankato’s newest industrial development area. Zoned M-1 Light Industrial, the site is ideally situated along Highway 14 across from the Wal-Mart Distribution Center with exceptional visibility and access, making it an excellent choice for a wide range of industrial or commercial uses. Adjacent to Truck Center Companies, this property benefits from its strategic location in a growing industrial corridor on the east side of Mankato. The site is ready with ample room for development, expansion, and logistic operations. Whether you're looking to establish a manufacturing facility, warehouse, distribution center, or service hub, this location provides the exposure and infrastructure to support it. Don't miss your chance to secure a high-visibility site in one of Mankato’s fastest-growing industrial zones.

TBD Us Hwy 14, Mankato

TBD #2 Adams, 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

Lot 1, Block 2 Elwin Addition No. 2, 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 Market, Mankato
$1,500,000
267041750 MLS
Certified pad, utilities stubbed, fees paid. 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

1008 Applewood, 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

412 Holly, 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

58049 227th, Mankato
$1,125,000
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

1005 Applewood, Mankato
$1,110,000
5 Beds ⋅ 4 Baths ⋅ 267041271 MLS
Set in Ironwood Estates, this custom-built ranch-style home was completed in 2019 and offers over 4,600 square feet, 5 bedrooms, and 3.5 baths. Thoughtfully designed for comfortable everyday living and entertaining, the home features an inviting open layout with quality finishes throughout. The main level features a beautiful kitchen with Cambria countertops, stainless-steel appliances, custom white cabinetry, and a spacious walk-in pantry. Exposed white oak beams add warmth and character to the living room, which opens to a walk-out deck overlooking the private setting. The main-level primary suite feels like a retreat, with a spa-inspired bath featuring heated floors, a soaking tub, tiled shower, and a spacious walk-in closet with direct access to the laundry room. The second bedroom, 3/4 bath, 1/2 bath and access to the bonus room above the garage complete the main level. The walkout lower level is designed for entertaining and features a spacious family room with a custom projector and gas fireplace accented by Vetter Stone. The lower level also includes a wet bar, fitness center, two additional bedrooms, and utility room. Outside, the nearly one-acre lot offers privacy and beautiful landscaping with custom concrete edging, irrigation, raised garden beds and a fully fenced yard. The heated three-stall garage features high-end epoxy flooring and provides plenty of room for vehicles & storage.

1005 Applewood, Mankato

219 S Victory, Mankato
$999,900
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

23812 State Hwy 22, Mankato
$995,000
1 Beds ⋅ 3 Baths ⋅ 267041692 MLS
Located less than a mile outside of Mankato, this six-acre property offers room to live, gather, and pursue your passions while staying close to town. The home offers a spacious open floor plan that creates an easy flow for everyday living and entertaining. The four-season sunroom is a favorite place to take in views of the property throughout the year that has an attached walk-around deck. The primary en suite is located on the main floor and offers a walk-in closet with a 3/4 bathroom that includes dual sinks. There is a home office also on the main level that could also serve as a bedroom. The lower level is partially finished. With a ceiling and flooring finish, this home will be complete with an additional 2 bedrooms and walk-out rec room. Step outside to enjoy the wraparound deck and covered patio, with inviting spaces to unwind or host guests. The outbuilding space is a standout feature. Attached to the home is an impressive 60 x 45-foot, 12-stall garage with an upper mezzanine for additional storage. Three more outbuildings measure 72 x 50 feet, 54 x 26 feet, and 29 x 26 feet. Two of the three outbuildings are insulated and includes its own electrical box, offering flexibility for storage, hobbies,equipment, and projects. With expansive indoor and outdoor spaces, this property offers possibilities that are hard to find so close to the Mankato area. This home also features 50-year shingles.

23812 State Hwy 22, Mankato

6 Hoffman, Mankato
$960,000
267041726 MLS
Building pad with 80 units, 24268 SF and 120 allocated parking stalls. Pad is certified and balanced, streets, stormwater and utilities complete. All hook up fees have been paid. Zoned Office Residential within a 19-acre apartment parcel platted for 10 buildings and up to 610 units, so you can start with one building and grow with the neighborhood. Aveyda Preserve is Mankato's newest master-planned community and its 19-acre apartment parcel is now fully construction-ready. Zoned Office Residential and platted for 10 buildings with capacity for 610 units, the site gives a developer a rare combination: scale to phase a multi-year program, and infrastructure that is already finished. Streets, stormwater ponds, sanitary and water are in, every pad is certified and balanced within one foot, and hook-up fees are paid. Your cost from here is essentially vertical construction. The parcel sits on Mankato's high-growth east side, within a mile of major retail, 2.7 miles from Mayo Clinic Health System's regional hospital and clinics, and 3.4 miles from Minnesota State University, Mankato. Across the street, Aveyda Preserve's 122 villas, twin homes and single-family homes plus a planned convenience store and mixed-use retail corner mean your renters move into a finished neighborhood, not a construction zone. Sites are available individually by building or as a full-parcel assemblage. Ideal for market-rate, luxury, or senior housing. Build to a finished product with a land basis that's a fraction of typical all-in cost.

6 Hoffman, Mankato

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