# 500 S 2nd Street, Mankato, MN 56001

> **TL;DR:** commercial, $5,750,000, built 1950. Est. $24,917/mo. Listed 10 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $5,750,000 |
| Year Built | 1950 |
| Property Type | Commercial (Other) |
| Status | For Sale |
| Days on Market | 10 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $24,917 |
| **Total** | **$24,917** |

## Property Highlights

- Built in 1950

## Description

### Agent 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. The occupancy rate is currently at 100%. 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.

## Location

- **Address:** 500 S 2nd Street, Mankato, MN 56001
- **County:** Blue Earth County
- **Coordinates:** 44.162875, -94.005752
- **Google Maps:** https://www.google.com/maps?q=44.162875,-94.005752

## Listing Agent

- **Name:** JONATHAN KIETZER
- **Brokerage:** LANDMARK REAL ESTATE
- **Phone:** 5073451599
- **Email:** jon@landmarkminnesota.com

## Primary Photo

![500 S 2nd Street - Primary Photo](http://lh.rdcpix.com/f4e570658a010080d943cef29a95df76l-f665601824r.jpg)

*17 total photos available on [listing page](https://www.propertysimple.com/listing/500-s-2nd-street-mankato-mn-56001-7039815)*

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**MLS#:** 7039815 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/500-s-2nd-street-mankato-mn-56001-7039815)

---

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