Mixed-Use Multifamily
For Sale
Contact for pricing
340 Stadium Rd, Mankato, MN 56001
Newer mixed-use multifamily building with on-site parking and good signage, near MSU campus amenities.
Property Size29,484 SF
Price / SF$142.45
Days on Market1655
Property Features for 340 Stadium Rd
General Information
Standard status
Active
Size
29,484 SF
Property subtype
MULTIFAMILY
Listing Agency:
KW Commercial Midwest - Eagan
(952) 431-5100
Listed By:
James Halbur · License #40144147
(507) 317-2353
Source:
Moodyscre
Added: Apr 20, 2022
Changed: Oct 27
Last Checked: Oct 28 at 10:43AM
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 KW Commercial Midwest - Eagan
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Investment Insights
Based on property information with market context.
This mixed-use multifamily building offers newer construction and a setup designed for income-producing residential use. The property includes on-site parking and good signage to support visibility and day-to-day access. The building totals approximately 29,484 square feet.
Located near the MSU campus at 340 Stadium Rd in Mankato, MN, the property benefits from proximity to many amenities. The surrounding area offers convenient access to campus and nearby services, supporting its mixed-use, residential income positioning.
Located near the MSU campus at 340 Stadium Rd in Mankato, MN, the property benefits from proximity to many amenities. The surrounding area offers convenient access to campus and nearby services, supporting its mixed-use, residential income positioning.
Key Highlights
- Near MSU campus
- Mixed‑use building
- Newer construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,469
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,509,380
$4.5M
Cap Rate 7%
$3,220,986
$3.2M
Cap Rate 9%
$2,505,211
$2.5M
Market Conditions
NOI Build-Up for 29,484 SF
Gross rent
$435.2K $14.76/SF
− Vacancy
−$25.2K −$0.86/SF
EGI
$409.9K $13.90/SF
− OpEx
−$184.5K −$6.26/SF
NOI
$225.5K $7.65/SF
Area
Blue Earth County, MN
Vacancy
5.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,509,380
Cap Rate 7%
$3,220,986
Cap Rate 9%
$2,505,211
Alternative Uses
Best Use
Apartment 5plus
$3.22M
$2.82M – $3.76M
NOI $225,469 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $407,912 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
638
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Newer mixed-use multifamily building with on-site parking and good signage, near MSU campus amenities.
Where is this apartment building located?
The property is located at 340 Stadium Rd Mankato, MN.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Near MSU campus; Mixed‑use building; Newer construction
