Shovel ready building pad for up to 48 units in Building 2 with 10,788 SF and 72 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity… Read More for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs. Read Less
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings deemed reliable but not guaranteed. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Obvious Real Estate are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers. This data is updated ten (10) times daily. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available. Listings courtesy of Regional Multiple Listing Service of Minnesota, Inc. as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information. This data is up-to-date as of . For the most current information, contact Obvious Real Estate, 612-750-1368, [email protected]
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