1708 Riverfront Dr Mankato, MN 56001-3259

This exceptional 13,420 square foot, 39-suite motel in Mankato, Minnesota, presents a lucrative investment opportunity. Boasting a 6.76% cap rate and a strong NOI of $304,000, this property offers significant return potential. Built in 2014 and situated on a 1.04-acre lot at 1708 N Riverfront Dr, Mankato, MN 56001 (APN: 010905351041), the property currently enjoys a 97% occupancy rate. Many suites are occupied by long-term residents, with the remainder on month-to-month tenancies, leaving a few available for short-term stays. The property features a single, one-story building with a fully equipped office and laundry facility. Each of the 39 furnished suites includes a full kitchen with a refrigerator, range/oven, microwave, and dishwasher, along with vaulted ceilings and lofts. Licensed as an extended-stay facility, this luxury boutique motel caters to both short-term and long-term housing needs, offering flexibility in occupancy terms and streamlined guest management. The asking price is $4,500,000, translating to $335.32 per square foot. This property represents a rare opportunity to acquire a high-performing, well-maintained hospitality asset in a desirable location.