4-Unit Quadplex with
New
For Sale
$349,900
303 N Broad Street, Mankato, MN 56001
Two residences are occupied, and each of the four units has its own kitchen.
Property Size3,706 SF
Price / SF$94.41
Days on Market1
Property Features for 303 N Broad Street
General Information
Standard status
Active
Size
3,706 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Occupancy
50%
Units
Unit Mix
1 x 2BR, 3 x 1BR
Multifamily Units
4
Amenities
on-site laundry
Building Details
Year Built
1885
Listing Agency:
Meta Realty
Listed By:
The BPR Experience
(952) 992-9279
Source:
Thebprexperience
Added: Oct 16
Last Checked: Oct 16 at 7:45AM
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 Meta Realty
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Investment Insights
Based on property information with market context.
This 3,706-square-foot quadplex in downtown Mankato contains four units: one with two bedrooms and three with one bedroom each. The property has four full bathrooms and a kitchen in every unit; the two-bedroom residence also has a dishwasher. Two units are currently occupied. Hardwood and tile flooring, vaulted ceilings, and on-site laundry add to the building’s interior features. Two porches and a one-car garage are also included, and the property occupies a corner lot.
Built in 1885, the property is located at 303 N Broad Street in Mankato, Minnesota.
Built in 1885, the property is located at 303 N Broad Street in Mankato, Minnesota.
Key Highlights
- Four units: one 2‑bedroom residence and three 1‑bedroom residences
- 3,706 square feet; built in 1885
- Two of the four units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,562
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,240
$611.2K
Cap Rate 7%
$436,600
$436.6K
Cap Rate 9%
$339,578
$339.6K
Market Conditions
NOI Build-Up for 3,706 SF
Gross rent
$46.7K $12.60/SF
− Vacancy
−$3.0K −$0.82/SF
EGI
$43.7K $11.78/SF
− OpEx
−$13.1K −$3.53/SF
NOI
$30.6K $8.25/SF
Area
Blue Earth County, MN
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,240
Cap Rate 7%
$436,600
Cap Rate 9%
$339,578
Alternative Uses
Best Use
Multifamily LT 5
$436.6K
$382.0K – $509.4K
NOI $30,562 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$404.9K
$354.3K – $472.3K
NOI $28,340 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$732.5K
$640.9K – $854.6K
NOI $51,273 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,659
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Two residences are occupied, and each of the four units has its own kitchen.
Where is this quadplex located?
The property is located at 303 N Broad Street Mankato, MN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Four units: one 2‑bedroom residence and three 1‑bedroom residences; 3,706 square feet; built in 1885; Two of the four units are occupied
