Commercial Real Estate Market in Mankato, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: October 31
117 active listings and 1,905 off-market properties in Mankato, MN. Commercial property asks $135/SF to buy and $12.00/SF/Yr to lease.
Market Trends
Mankato, MN spans 158.5 square miles in Blue Earth County, Minnesota. Figures below refresh monthly; last updated 31 October 2026.
Office
Office vacancy in Mankato, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail vacancy in Mankato, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Industrial
Industrial space in Mankato, MN has a median asking sale price of $135/SF (based on 4 listings). Vacancy runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Multifamily
Multifamily space in Mankato, MN has a median asking sale price of $104/SF (based on 8 listings). Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 46.8%
- Industrial 26.1%
- Civic 9.9%
- Commercial 1.4%
Largest Zones share of zoned land by district
Mankato, MN zones 13,156 acres across 17 districts. Commercial zoning covers 1.4% of zoned land, residential 46.8% and industrial 26.1%. The largest single district is One Family Dwelling at 30.6%. For commercial buyers the practical constraint is that only 27.6% of land carries a commercial or industrial designation.
The purpose of the R-1 district, is to provide for low density residential development
Market overview
Demographics & Economy
Mankato, MN has 65,950 residents in 28,126 households. Density runs 416 people per square mile. Median household income here is $70,308 and median gross rent $1,049 a month.
Tools
Frequently Asked Questions
What is the median price per square foot for commercial property in Mankato?
How much does it cost to lease commercial space in Mankato?
What zoning applies to commercial property in Mankato?
Where does Realmo's Mankato market data come from?
Methodology & data sources
- Asking prices and medians
- There are 62 active for-sale and 55 active for-lease listings in Mankato, MN. The medians are based on 21 of the for-sale and 11 of the for-lease listings, those that state a price or rent per square foot. These are ASKING figures from live listings, not closed-transaction prices, and a figure resting on fewer than 10 listings says so where it is quoted.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 13,156 zoned acres across 17 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 October 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 October 2026 · How Realmo checks market page data · Report a data issue
