Property for Sale in Mankato
500 S 2nd Street
Mankato, MN 56001

Price
$5,750,000

MLS #
7038261

Status
Active


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Property Details

Year Built
1950

Parking Features
Parking Lot

Zoning
Business/Commercial

2026 Property Taxes
$30,202

School District
Mankato

County
Blue Earth


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.


From HWY 14, head south on South on Riverfront Dr. Continue until you reach the intersection of Riverfront and W Cherry St. Turn left onto Cherry St. Then turn right onto S 2nd St. Property is on the right.


From HWY 14, head south on South on Riverfront Dr. Continue until you reach the intersection of Riverfront and W Cherry St. Turn left onto Cherry St. Then turn right onto S 2nd St. Property is on the right.

Features


Utilities
Electric Separate

Heating
Forced Air

Sewer
City Sewer/Connected

Water
Public

Foundation
Raised

Additional Info


Listed By
Jonathan Kietzer of Landmark Realtors, LLC

Listed
03/17/26 and last updated 04/21/26

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