Address
500 S Second Street, Mankato, MN
Price
$ 6,975,000
Property Attributes
- ID#7034030
- TypeCommercial
- CountyBLUE EARTH
- CityMankato
- AreaMANKATO CENTRAL
- Zip56001
- StyleCommercial
- Year Built1962
- Taxes$ 34724
- Price$ 6,975,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
Data Source:
REALTOR® Association of Southern Minnesota (RASM)
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 1963. 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 went through a total remodel in 2022 and early 2023. The occupancy rate is currently at 100%. There is ample parking on the property for all residents Building #2 is a commercial building consisting of 12,663 SF which is leased to Menari Body Works. The elevator is shared with the apartment building and the commercial building. The apartments consist of 8 two bedroom units and 30 one bedroom units. Building #3 is a two story 2,904 SF brick building that has two apartments that are each 4 bedrooms. Broker is owner
| Price History | |
|---|---|
| 1/2/2024 | Listed $6,975,000 |
General Features
| Heating | Forced Air |
|---|---|
| Water | City |
| Sewer | City |
| Status | Active |
| Year Built | 1962 |
| Status | ACTIVE |
| Subdivision | MN |
| Sale/Rent | For Sale |
| School District | Mankato #77 |
| Sale/Lease | For Sale |
| Buyer Agency Compensation | Percent |
Interior Features
| Total Number of Units | 40 |
|---|---|
| Bonus Room | No |
Exterior Features
| Exterior | Brick |
|---|---|
| Waterfront | No |
| Construction Type | Concrete Block |
| Foundation Size | 44076 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 56001
Price
Taxes
Visits
Year Built
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 20, 2024 10:52 AM UTC
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house) and detailed information about them includes the name of the listing brokers.
© 2024 Realtor Association of Southern Minnesota. All rights reserved. The data relating to real estate for sale on this limited electronic display comes in part from the Broker Reciprocity (sm) Program of the Realtor Association of Southern Minnesota Multiple Listing Service. Real estate listings held by brokerage firms other then RE/MAX Advantage Plus are marked with the Broker Reciprocity(sm) logo or the Broker Reciprocity(sm) thumbnail logo (a little black house) and detailed information
West Central Association Of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be
