Home › 500 S 2nd Street, Mankato, MN 56001 (MLS# 7038261)

500 S 2nd Street, Mankato, MN 56001 (MLS# 7038261)

$5,750,000
500 S 2nd Street
Mankato, MN 56001
MLS# 7038261

500 S 2nd Street, Mankato, MN 56001
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500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001 500 S 2nd Street, Mankato, MN 56001

Property 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. 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.

Details
Maps
Contract Information
Status: Active
Current Price: 5750000
Contingency: None
ListPrice: 5750000
List Date: 2026-03-17
Owner is an Agent?: Yes
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 13
Waterfront Present: No
Year Built: 1950
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 16848
For Sale or Lease: For Sale
Acres: 0.39
Lot Dimensions: 112x157x112x157
Assessment Pending: No
Location Tax and Other Information
House Number: 500
Street Direction Prefix: S
Street Name: 2nd
Street Suffix: Street
Postal City: Mankato
County: Blue Earth
State: MN
Zip Code: 56001
Complex/Dev/Subdivision: Mankato
Assessments
Tax With Assessments: 30392
Building Information
Building Finished SqFt: 33696
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building
Unit Details
Total Units: 40
Property Features
Accessible: Accessible Elevator Installed
CMU Style: Apartments/Multi Family
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Foundation: Raised
Fuel: Natural Gas
Heating: Forced Air
On Site Utilities: Electric Separate
Parking Characteristics: Parking Lot
Sewer: City Sewer/Connected
Water: City Water/Connected

Listing Office: Landmark Realtors, LLC

Last Updated: April - 21 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Sunday 24th of May 2026 07:00 PM

218-998-4400

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