For Sale

500 S 2nd St

500 S 2nd St, Mankato, MN 56001

Located in downtown Mankato on the corner of 2nd St. and Cherry St.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.

Key features

  • Excellent location in the heart of Mankato area
  • High occupancy with stable rental income
  • Historic building with character, built in 1950
  • Recently renovated
  • Total of 40 units between 500 S Second and 117 E Cherry to maximize rental potential
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Contacts

Jon Kietzer

Landmark Real Estate

Building Details

  • For Sale $5,750,000
  • Property Type Multi-Family
  • Property Size 44,076 SF
  • Units 40
  • Lot Size 0.4 Acre
  • Building Class A
  • Year Built 1950
  • Date Updated Apr 21, 2026

Attachments

Getting Around

  • Walk Score ®

    Very Walkable (87)

  • Bike Score ®

    Very Bikeable (79)
Powered by Walk Score ®

Location

  • City Mankato, MN
  • Zip Code 56001

Points of Interest

Kwik Trip

0.49 miles

Cenex

0.54 miles

Speedway

1.25 miles

Circle K

1.29 miles

Happy Dan's Gas Station

1.72 miles

Casey's General Store

1.97 miles

Tesla Destination Charger

2.52 miles

City Center Ramp

0.11 miles

Mankato Place Ramp

0.17 miles

Civic Center Ramp

0.29 miles

Park

0.77 miles

Lot 17

0.80 miles

Lot 14

0.88 miles

Lot 18

0.88 miles

Lot 15

0.96 miles

Lot 16

0.98 miles

Kwik Trip - Car Wash

1.54 miles

Howard Drive Car Wash

2.06 miles

Kwik Trip Car Wash

2.18 miles

Star Street Car Wash

2.24 miles

Enterprise

2.31 miles

Lager's Car Wash & Quick Lube

2.47 miles

Holiday Car Wash

2.88 miles

Snell Auto Wash

2.93 miles

Fleet Farm Car Wash

3.02 miles

Arby's

0.18 miles

Subway

0.29 miles

Little Caesars

0.47 miles

Dino's Pizzeria

0.49 miles

Nakato Bar & Grill

0.50 miles

Dairy Queen

0.51 miles

Spinners Bar & Grill

0.52 miles

American Legion Post 518

0.54 miles

Burger King

0.65 miles

Cub Foods

0.60 miles

Madison East Center

1.74 miles

Belle Mar Center

1.75 miles

ALDI

2.17 miles

Raintree Mall

2.44 miles

River Place

2.63 miles

JCPenney

2.65 miles

River Hills Mall

2.65 miles

Walmart Supercenter

2.72 miles

Public Safety Center

0.17 miles

PrairieCare

0.37 miles

North Mankato Police Department

1.05 miles

Mayo Clinic Health System

1.07 miles

North Mankato Fire Department

1.08 miles

CVS Pharmacy

1.43 miles

MANKATO FIRE STATION 3

1.57 miles

SOUTH BEND VOLUNTEER FIRE DEPARTMENT

1.64 miles

DaVita Dialysis

1.72 miles

500 S 2nd St Listing Summary

  • What is the asking price at 500 S 2nd St?

    500 S 2nd St is currently listed for sale at Contact for pricing.

  • What is the total size of 500 S 2nd St?

    500 S 2nd St has a total of 44,076 square feet.

  • What is the year built for 500 S 2nd St?

    The year built for 500 S 2nd St is 1950.

Contact Listing Broker
Jon Kietzer

Landmark Real Estate

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