For Sale: Mankato MLS# 7042439
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Property Description
Shovel ready building pad for up to 54 units in Building 3 with 12, 152 SF and 81 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.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$648,000
Property Type:
Lot/Land
City:
Mankato
County:
Blue Earth
State:
MN
Property Style:
Lot/Land
Zip Code:
56001
Exterior
Road Responsibility:
Private Maintained Road
Road Frontage:
- City Street
- Paved Streets
- Storm Sewer
Lot & Land
Acres:
0
Geolocation:
44.1556856963, -93.9380368278
Inclusions:
Platted, Survey
Lot Dimensions:
0
Restrictions:
Open
Zoning:
- Other
- Residential-Multi-Family
Lot Description:
Underground Utilities
Farm
Topography:
Level
Schools
School District:
2262
District Phone:
5073871868
Financial & Taxes
Tax Year:
2026
Annual Taxes:
None
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
None
Association Fee Required:
No
Association Fee:
None
Miscellaneous
Development Status:
Finished Lot(s)
Improvements:
Curbs, Other, Paved Streets, Public Road, Storm Sewer
Available Utilities:
- Cable Available
- Cable Connected
- Electricity Available
- Electricity Connected
- Natural Gas Available
- Natural Gas Connected
- Phone Available
- Phone Connected
- Sewer Available
- Sewer Connected
- Storm Sewer Available
- Storm Sewer Connected
- Underground Utilities Available
- Water Available
- Water Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of RE/MAX Advantage Plus.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.