500 S 2nd Street, Mankato, MN 56001
Mankato · Blue Earth County
Key Facts
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.
Property Information
Property Type
Commercial Sale
Year Built
1950
Lot Size
0.39 acres
Lot Dimensions
112x157x112x157
Zoning
Business/Commercial
Days on Market
35
MLS® Listing#
7038261
Property Features
Interior
Heating
Parking
Foundation
Sewer
Water Source
Financial Details
Annual Taxes
$30,392
Parcel Number
R010918106025
Directions
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.
Affordability Calculator
$1,150,000
Estimated monthly payment
$30,604/mo
Principal $4,600,000 · Est. interest $6,417,409 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Mankato, MN
- $387,766
- Median Listing Price
- 76
- Median Days on Market
- 2,114
- Median Sq Ft
- $175
- Median Price / Sq Ft
- 429
- Active Listings
- This home’s price is 1383% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Mankato, MN.
Location
- 500 S 2nd Street, Mankato, MN 56001
Points of Interest in Mankato, MN
Showing the Mankato area map.
Nearby Schools
Prairie Winds Middle School
School · 0.2 mi away
Mankato Area Public Schools
Secondary · 0.2 mi away
Central High School
Secondary · 0.4 mi away
Kato Public Charter School
Secondary · 0.5 mi away
Ive Seminary High School
Secondary · 0.5 mi away
Mankato West High School
Secondary · 0.6 mi away
Immanuel Lutheran School
School · 0.6 mi away
Immanuel Lutheran Church-CLC
Elementary · 0.6 mi away
Jefferson Elementary
Elementary · 0.7 mi away
Garfield Elementary School
Elementary · 0.8 mi away
Monroe Elementary School
Elementary · 0.9 mi away
Roosevelt Elementary School
Elementary · 0.9 mi away
RSL Elementary School
Elementary · 0.9 mi away
Bridges Community School
School · 1.0 mi away
Risen Savior Lutheran School
School · 1.1 mi away
Franklin Elementary School
Elementary · 1.1 mi away
Washington Elementary
Elementary · 1.2 mi away
Schools-Mankato Area Public Schools-District No 77 Special Education
School · 1.8 mi away
Futures Program
School · 1.8 mi away
Grace Baptist Church
School · 1.8 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 38388 512th St, North Mankato, MN | $4,500,000 | — | — | — |
| 38388 512th Street, North Mankato, MN | $4,500,000 | — | — | — |
| 38388 512th St, North Mankato, MN | $4,500,000 | — | — | — |
| 500 S 2nd Street, Mankato, MN | $5,750,000 | — | — | — |
Moving Cost Estimate
EXIT Agents in Mankato
Listing Courtesy: Landmark Realtors, LLC - 5073451599
Presented by: Jonathan Kietzer