Mixed-Use Building with Retail
For Sale
Contact for pricing
112 S Riverfront, Mankato, MN 56001
Mixed-use building with 23 apartments and six commercial retail units, with current occupancy at 97% for residential.
Property SizeContact for details
Days on Market120
Property Features for 112 S Riverfront
General Information
Standard status
Active
Property subtype
Mixed Use, Multifamily
Additional Details
Multifamily Units
23
Building Details
Tenancy
Multi
Listing Agency:
True Commercial | Business Brokerage
(507) 345-8783
Listed By:
April Femrite · License #MN 40673070
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 22 at 5:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of True Commercial | Business Brokerage
Investment Insights
Based on property information with market context.
This mixed-use property features 23 apartment units totaling 69 bedrooms, along with six commercial retail units totaling 12,333 square feet for the commercial component. Based on current figures and 97% residential occupancy, total monthly gross rent is listed at $40,360, with residential gross rent projected to increase starting 8/1/25 to $44,060. The commercial portion is shown at 81.5% occupancy with total monthly base rent of $17,419, with potential monthly base rent of $21,219 at 100% occupancy.
The property’s financials are presented using an August 1–July 31 fiscal year for apartments. For 8/24–7/25, apartment gross rent is reported at $452,400, increasing to $528,720 for 8/25–7/26 (with apartments noted as 100% pre-leased beginning 8/1/25) and $566,171 for 8/26–7/27. The 2024 income statement reflects gross revenue of $797,461 and an NOI of $399,548. The 2025 budget projections show gross revenue of $821,311 and a projected NOI of $460,774.
The current property management contract is set to expire on December 31, 2025, and the buyer will need to manage or obtain a new contract with a different property management group.
The property’s financials are presented using an August 1–July 31 fiscal year for apartments. For 8/24–7/25, apartment gross rent is reported at $452,400, increasing to $528,720 for 8/25–7/26 (with apartments noted as 100% pre-leased beginning 8/1/25) and $566,171 for 8/26–7/27. The 2024 income statement reflects gross revenue of $797,461 and an NOI of $399,548. The 2025 budget projections show gross revenue of $821,311 and a projected NOI of $460,774.
The current property management contract is set to expire on December 31, 2025, and the buyer will need to manage or obtain a new contract with a different property management group.
Key Highlights
- Mixed‑use property with 23 apartments and six commercial retail units.
- Residential currently 97% occupied; total monthly gross rent at current occupancy is $40,360.
- With rent increase beginning 8/1/25, total monthly gross rent at 100% occupancy is projected to be $44,060 (apartments).
Property Analytics
Current Use
Lease Details
23
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,793
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building with 23 apartments and six commercial retail units, with current occupancy at 97% for residential.
Where is this apartment building located?
The property is located at 112 S Riverfront Mankato, MN.
What are key features of this property?
This property features: Mixed‑use property with 23 apartments and six commercial retail units.; Residential currently 97% occupied; total monthly gross rent at current occupancy is $40,360.; With rent increase beginning 8/1/25, total monthly gross rent at 100% occupancy is projected to be $44,060 (apartments).
