Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    303 N Broad Street Mankato, MN 56001

    View on Map
    Claim this Listing
    For Sale
    $390,000

    4-plex, Multi-Family - Mankato, MN

    Type:Multi Family
    Property size:
    4,911 SF
    Lot size:
    0.15 Acres
    Price / SF:
    $79/SF
    Added:
    Apr 17, 2026
    Days on Market:
    15
    Last Refresh:
    May 1 at 3:06 pm

    Property Features for 303 N Broad Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    7
    Interior features
    Tiled Floors, Vaulted Ceilings, Walk-in Closet, # On Street Prkng Sp (l), # Off Street Prkng Sp (l), Tiled Floors, # Off Street Prkng Sp (l), Hardwood Floors, Walk-in Closet, # Off Street Prkng Sp (l)
    EntryLevel
    Main,Upper
    Basement Y/N
    1
    Appliances
    Cooktop, Dishwasher, Freezer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    R010907456013
    Size
    4,911 SF
    Lot size
    0.15 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    5520

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1885
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Hardwood, Tile, Wood
    Building materials
    Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Tyler Bolduan

    Listing agent Tyler Bolduan License #40927098

    Listing office RE/MAX DYNAMIC AGENTS 1720 Adams Street, Mankato, MN

    Listing date Apr 17, 2026

    MLS# 7039998 Listing URL

    Copyright © 2026 Realtor Association of Southern Minnesota. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mankato Turnkey Investment Opportunity

    This turnkey, four-unit investment property is located in downtown Mankato. The property, with over 4,000 square feet, features one two-bedroom unit and three one-bedroom units, each with a full bathroom. The property generates $3,075 per month in rental income. Tenants are responsible for electric and Wi-Fi expenses. A newer roof was installed in 2019. The two-bedroom unit includes a dishwasher, and all units have received some cosmetic updates. Additional features include shared on-site laundry on the first floor, tall/vaulted ceilings, and two porches for extra storage. Situated minutes from downtown amenities, this property offers strong rental appeal and consistent occupancy potential. The lot size is 0.15 acres and the building size is 4,911 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mankato
    County
    Nicollet
    State
    Minnesota
    Longitude
    -93.997826
    Latitude
    44.168056

    Nearby Similar for Sale

    • $589,000

      Mankato Office Space with Lake View

      Well-appointed office space with lake views and modern amenities.
      75 Teton Lane, Mankato, MN 56001
      View Details
    • $625,000

      Mankato Commercial Space For Sale

      8208 SF commercial space in Mankato's Contractors Park.
      1072 S Victory Drive, Mankato, MN 56001
      View Details
    • $349,000
      2,600 SF

      Mankato Townhome with Tree-Lined Backyard

      Two-story townhome with modern finishes and private backyard.
      313 Tranquility Trail, Mankato, MN 56001
      View Details
    • $1,195,000
      6,528 SF

      Renovated Mankato 4-Plex Townhome

      Fully renovated, occupied 4-unit townhome with modern appeal and income stability.
      412 Holly Lane, Mankato, MN 56001
      View Details
    • $1,199,000

      Victory Drive Commercial Opportunity

      Versatile commercial property with high visibility and income potential.
      219 S Victory Drive, Mankato, MN 56001
      View Details
    • $564,900

      Mankato Investment Property For Sale

      Investment property with four income streams in Mankato, Minnesota.
      520 S 2nd Street, Mankato, MN 56001
      View Details
    • $599,000
      3,820 SF

      Mankato Six-Unit Investment Property

      Fully leased six-unit apartment building in downtown Mankato, Minnesota.
      221 E Walnut Street, Mankato, MN 56001
      View Details
    • $445,000
      1,890 SF

      Mankato Home with Private Views

      Well-maintained home with quality finishes and secluded views.
      725 Augusta Drive, Mankato, MN 56001
      View Details
    • $12

      Prime Location Restaurant Opportunity

      Restaurant space available in high-traffic Mankato location.
      90 Power Drive, Mankato, MN 56001
      View Details
    • $2,100,000

      Mankato Apartment Building Investment

      28-unit apartment building with renovation opportunities near downtown Mankato.
      123 N 4th Street, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome with Amenities

      Two-bedroom townhome in Siesta Hills with access to amenities.
      1046 Saba Boulevard, Mankato, MN 56001
      View Details
    • $639,900
      2,552 SF

      Siesta Hills Townhome

      Two-bedroom townhome in Siesta Hills community with luxury amenities.
      1042 Saba Boulevard, Mankato, MN 56001
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit property in downtown Mankato generating $3,075 monthly income.
    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 $390,000.
    What are key features of this property?
    This property features: Turnkey 4‑unit investment property generating $3,075/month in rental income.; Located in the heart of downtown Mankato, minutes from amenities.; Tenants pay electric and Wi‑Fi, offsetting owner expenses.
    (507) 385-9405
    We can help!
    Listing Contact
    Tyler Bolduan
    Real Estate License ID: 40927098
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    303 N Broad Street, Mankato, MN 56001

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!