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Mankato, MN 56001

$500,000

Property Type: Commercial Lot Size (sq. ft.): 10,019 Status: Active

Current Price: $500,000 List Date: 2/23/2026 Last Modified: 6/23/2026

Overview

Description

Motivated seller. Lease option or CONTRACT for DEED possible. Price in all terms negotiable. LOCATED IN AN OPPORTUNITY ZONE. ZONED CBDF-central business district fringe. Bring in all offers. Control this property for flexible down payment and terms, triple net lease preferred. Zoned for commercial or residential use. Rented parking spaces. Rented garage. Nine bedrooms, four bathrooms.

Listing Details MLS# 7025043

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 15
Owner Occupied: No
Waterfront YN: No
Year Built: 1884
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 1000
Garage Stalls: 2
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.23
Lot Dimensions: 66x157.5
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Central Air Amenities Shared: Patio Amenities Unit: Tile Floors Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Basement: Unfinished CMU Style: Duplex Up and Down Construction Status: Previously Owned Current Use: Residential Existing Financing: Other Exterior: Stucco Foundation: Combination Fuel: Electric; Natural Gas Heating: Baseboard; Forced Air Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Separate; Hot Water Common Owner Pays: Electricity; Heat; Hot Water; Insurance; Lawn; Lawn; Repairs; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Potential Use: Office; Professional Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Sewer: City Sewer/Connected Tenant Pays: Broadband; Cable TV; Telephone Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 500000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Mankato
County: Blue Earth
State: MN
Zip Code: 56001
Complex/Dev/Subdivision: Auditors 1

Assessments

Tax With Assessments: 5410
Assessment Balance: 0

Building Information

Building Finished SqFt: 3833

More Information

Income and Expenses

Annual Caretaker Expense: 3000
Annual Electric Expense: 8060
Annual Fuel Expense: 1200
Annual Gross Expenses: 26460
Annual Gross Income: 71520
Annual Insurance Expense: 2100
Annual Net Income: 44894
Annual Water/Sewer Expense: 1800
Total Annual Expenses: 21050
Annual Trash Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 544
Paved Lot: Yes

Sale Options

Sale Includes: Building, Land, Rental License

Unit Details

Total Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: AUDITORS PLAT 1 LOT A 000 000 00
Listing City: Mankato
Map Page: 999
Municipality: Mankato
School District: Mankato
School District Phone: 507-387-1868
Zip Plus 4: 8014
Property ID Number: R010918106027
Tax Year: 2025
Tax Amount: 5410
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Motivated seller. Lease option or CONTRACT for DEED possible. Price in all terms negotiable. LOCATED IN AN OPPORTUNITY ZONE. ZONED CBDF-central business district fringe. Bring in all offers. Control this property for flexible down payment and terms, triple net lease preferred. Zoned for commercial or residential use. Rented parking spaces. Rented garage. Nine bedrooms, four bathrooms.
Directions: Main St. to Second St. go S.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Amenities Shared

Patio: Yes

Amenities Unit

Tile Floors: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Basement

Unfinished: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Other: Yes

Exterior

Stucco: Yes

Foundation

Combination: Yes

Fuel

Electric: Yes
Natural Gas: Yes

Heating

Baseboard: Yes
Forced Air: Yes

Owner Pays

Electricity: Yes
Heat: Yes
Hot Water: Yes
Insurance: Yes
Lawn: Yes
Repairs: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Sewer

City Sewer/Connected: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Telephone: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Common: Yes

CMU Style

Duplex Up and Down: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Potential Use

Office: Yes
Professional: Yes

Rent Rate per Foot

Per Month: Yes

Listing Office: RE/MAX Results

Last Updated: June - 23 - 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.