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$ 6,550,000
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Active
500 S Second Street Mankato, MN 56001
UPDATED:
08/19/2024 07:41 PM
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Mn
MLS Listing ID 7034030
Style Concrete Block
Year Built 1962
Annual Tax Amount $34,724
Tax Year 2023
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
Location
State MN
County Blue Earth County
Area Mankato Central
Direction S
Multi-Unit Info
Total Units 40
Interior
Heating Forced Air
Exterior
Exterior Feature Brick
Building
Foundation 44076
Sewer City
Water City
Structure Type Concrete Block
Schools
School District Mankato #77
Others
Energy Description Natural Gas
Listed by LANDMARK REAL ESTATE