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500 S 2nd Street
Mankato, MN 56001

$5,750,000

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Listing Details

  • $5,750,000
  • MLS# 7038261
  • Type Commercial - Business
  • Status Active
  • 0.396 acres
    Lot Size
  • 1950
    Year Built
  • Mankato
    Local Schools

Listed By

Agency Name: Landmark Realtors, LLC
Agency Phone: 507-345-1599

Shown By

Agency Title: Town & Country Realty
Agency Phone: (701) 293-3333

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Home Value Estimate


Description

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. The occupancy rate is currently at 100%. There is ample parking on the property for all residents.Building #2 (121 E Cherry St) is a commercial building consisting of 12,663SF...read more

Features

  • Heating: Forced Air
  • Taxes: $30,202
  • Water: City Water/Connected
  • Year Built: 1950

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