2 Aveyda WAY, Mankato, MN 56001
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Chad Pederson

Chad Pederson

+1(612) 325-8745
$648,000
Est. payment /mo
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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 7042443

Tax Year 2026

Contingent None

Property Description

Shovel ready building pad for up to 54 units in Building 9 with 12,152 SF and 81 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 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.

Location

State MN

County Blue Earth

Zoning Residential-Multi-Family,Other

Interior

Inclusions Platted, Survey

Fireplace No

Exterior

Utilities Available Cable Available, Cable Connected, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Storm Sewer Available, Storm Sewer Connected, Phone Available, Phone Connected, Underground Utilities Available, Water Available, Water Connected

Building

Lot Description Underground Utilities

Schools

School District Mankato

Others

Restrictions Open

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Listed by Rebecca Thate • RE/MAX Advantage Plus

Nearby School & Business

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Chad Pederson

Chad Pederson

+1(612) 325-8745

Broker | License ID: 20586306

Broker License ID: 20586306

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