North Mankato, MN
Commercial Real Estate Market Trends & Data

$170 Avg asking sale price
$14 Avg asking lease rate
3,514 SF Avg unit lease size
16,823 SF Avg building size for sale
6.38% Average cap rate

North Mankato's Demographic Profile

North Mankato has 5,803 households and a median income of $76,694, providing context for rent absorption and tenant demand across retail and multifamily assets. A 0% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 13,966
# Households 5,803
Median age 39
Median household income $76,694
Avg household size 2.0
Renter-occupied housing units 1,689
5-year population change 0%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near North Mankato, MN

↻ Updated Monthly

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Nearby Retail Markets Avg Cost/SF Typical Size
North Mankato $237 4,727 SF
Mankato $237 4,727 SF
Madelia $122 11,446 SF
Janesville $90 4,930 SF
Le Sueur $120 3,214 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
North Mankato $147 34,089 SF 6.88%
Mankato $147 50,026 SF 6.88%
Saint Peter $125 22,459 SF 8.60%
Blue Earth $35 12,014 SF 9.35%
Prior Lake $269 46,403 SF 6.00%

Commercial Properties For Sale in North Mankato

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

327 N Riverfront Dr

Mankato, MN 56001

  • 3,180 SF Retail Building
  • $499,000
For Sale

424 S Front St

Mankato, MN 56001

  • 3,410 SF Retail Building
  • $425,000
For Sale

117 E Washington St

Mankato, MN 56001

  • 3,264 SF Retail Building
  • $299,000
For Sale

Cherry Square

Mankato, MN 56001

  • 44,076 SF Multifamily
  • 6.50% Cap Rate
  • $5,750,000
For Sale

Lor Ray Drive Development Site

North Mankato, MN 56003

  • 48 AC Lot
  • 1 Commercial Lot
  • $1,440,000
For Sale

520 S Riverfront Dr

Mankato, MN 56001

  • 3,366 SF Retail Building
  • 5.77% Cap Rate
  • $2,100,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether North Mankato pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
North Mankato $170 16,823 SF
Mankato $207 16,992 SF
Kasota $125 2,400 SF

Regional Demographic Comparison

This comparison places North Mankato alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in North Mankato or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Mankato 46,861 18,489 30 $63,167 2 9,067 3%
Kasota 769 309 43 $72,132 3 57 1%
Lake Crystal 2,258 926 40 $72,136 2 182 -2%
Nicollet 1,123 454 42 $79,639 3 96 -2%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in North Mankato, MN and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in North Mankato

View All Commercial Real Estate For Sale in North Mankato
Is North Mankato a good market for a first-time commercial real estate investor?

North Mankato offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in North Mankato?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in North Mankato. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in North Mankato?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for North Mankato. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does North Mankato compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to North Mankato. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for North Mankato acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in North Mankato, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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