Commercial Real Estate Market in North Mankato, MN
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
31 active listings and 236 off-market properties in North Mankato, MN. Commercial property asks $198/SF to buy and $23.33/SF/Yr to lease.
Market Trends
North Mankato, MN spans 44.0 square miles in Blue Earth County, Minnesota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in North Mankato, MN runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in North Mankato, MN runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in North Mankato, MN runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in North Mankato, MN runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
North Mankato, MN has 15,221 residents in 6,543 households. Density runs 346 people per square mile. Median household income here is $80,587 and median gross rent $920 a month.
15,221
Population
6,543
Households
2.3
Avg Household Size
38
Median Age
43%
College-Educated
98%
High-School Grad
44 sq mi
ZIP Area
346
Density / Sq Mi
$80,587
Median Household Income
$46,544
Median Earnings
$920
Median Rent
$260,800
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Mankato | — | $10.50 |
| Eagle Lake | — | — |
| Skyline | — | — |
| Kasota | — | — |
Commercial property in North Mankato, MN asks $198/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in North Mankato?
Commercial property in North Mankato, MN asks an average of $198 per square foot. The 4 most recent recorded sales traded at a median of $138/SF, so asking sits 44% above the achieved median.
How much does it cost to lease commercial space in North Mankato?
Asking lease rates in North Mankato, MN average $23.33 per square foot per year.
Where does Realmo's North Mankato market data come from?
Realmo compiles North Mankato, MN figures from 7 recent recorded sales, 23 active sale listings, 8 active lease listings, 236 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 23 active for-sale and 8 active for-lease listings in North Mankato, MN. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- 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.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 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 August 2026 · report a data issue
