Description
Shovel ready building pad for up to 54 units in Building 9 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.
Details
| MLS # | 7042443 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 149 |
| Listing Provided By | RE/MAX Advantage Plus | Rebecca Thate |
Features
| Zoning | Residential-Multi-Family,Other |
|---|
Exterior
| Lot Features | Underground Utilities |
|---|
Utilities
| Utilities | Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Storm Sewer Available, Storm Sewer Connected, Phone Available, Phone Connected, Underground Utilities Available, Water Available, Water Connected |
|---|
Area Information
| State | MN |
|---|---|
| County | Blue Earth |
| City | Mankato |
| Zip Code | 56001 |
| School District | 77 |
| High School | Mankato |
| Listing VS Median (in 56001) | |
Price: $648,000 low | high Med: $350,000 On site: 149 low | high Med: 34 | |
Market Activity 56001
Request a showing
Request a showing
Listings courtesy of Northstar MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of August 20, 2026 at 6:06:18 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
Contact
Learn More About This Property
| State | MN |
|---|---|
| County | Blue Earth |
| City | Mankato |
| Zip Code | 56001 |
| School District | 77 |
| High School | Mankato |
| Listing VS Median (in 56001) | |
Price: $648,000 low | high Med: $350,000 On site: 149 low | high Med: 34 | |
 | $1,500,0001 Market WayMankato, MN 56001 |
 | $504,00010 Aveyda WayMankato, MN 56001 |
 | $576,0009 Aveyda WayMankato, MN 56001 |
 | $648,0003 Aveyda WayMankato, MN 56001 |
 | $648,0007 Aveyda WayMankato, MN 56001 |