500 2Nd StMankato, MN 56001

Property Details for 500 2Nd St

Year built

1963

Property size (Sq ft)

44,076 SF

Property type

Retail properties

Description

This exceptional Class A retail property, located at 500 S 2nd St, Mankato, MN 56001, presents a compelling investment opportunity. The property encompasses 44,076 square feet and features a mix of commercial and residential space. Built in 1963 and significantly remodeled in 2022-2023, the complex boasts a 100% occupancy rate. The main structure is a two-story, pre-stressed concrete and brick building with ample parking underneath. The commercial space, totaling 12,663 square feet, is currently leased to Menari Body Works and shares an elevator with the residential portion. The residential component includes 38 units: 30 one-bedroom and 8 two-bedroom apartments, plus two additional four-bedroom units in a separate two-story building. The property's prime location in Mankato's downtown bar district, combined with its strong occupancy and recent renovations, makes it an attractive investment. The asking price is $6,975,000. This is a rare opportunity to acquire a well-maintained, high-performing retail complex in a thriving Minnesota market. The property's solid construction and desirable location ensure a strong return on investment. Detailed financial information is available upon request.

Location Insight

City

Mankato

County

Blue Earth

State

Minnesota

Latitude

44.1628

Longitude

-94.0056

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