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422 Belgrade Ave, North Mankato, MN, 56003

422 Belgrade Ave
$2,900,000

Key Information

Cap Rate
6.88%
$ per SF
$283
Tot. SF
24,102
Units
15
Year Built
2013
Type
Mixed Use
NOI
$199,453

Highlights

• Built in 2013, this mixed-use asset is in a premium North Mankato location just steps from downtown.
• The property offers a compelling value-add opportunity through potential upside in both apartment and retail rental rates.
• Additional highlights include ample off-street parking, in-unit laundry, large, updated apartment units, and high-quality retail and office space on the main floor.
• Newer construction built in 2013, significantly reducing near-term capital expenditure risk.
• Located near restaurants, coffee shops, banks, trails, and professional services, creating a walkable mixed-use environment attractive to both residents and businesses.
• Strong accessibility with quick connections to Highway 169 and proximity to downtown Mankato, enhancing both commuter convenience and retail traffic exposure.
• Lower North Mankato corridor continues to benefit from surrounding residential density and ongoing commercial activity, supporting long-term leasing demand.

Photos

Location

Agents

Broker of Record

Kurt Sauer

License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416