$5,750,000

500 S 2nd Street, Mankato MN, 56001

Built in1950

Property typeCommercial

Courtesy of Landmark Realtors, LLC, Jonathan Kietzer Listing Contact:

Overview

Active

Listed Mar 17, 2026

Updated May 28

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.

Other Property Details

Taxes: $30,202
Tax Frequency: Annually

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