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$564,900 Just Listed

  • For Sale
  • Active
  • Commercial
  • 0.239 Acres
  • Updated 15 hours ago
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This investment property has four streams of income. There is a main level five bedroom, three bath apartment. There is an upper level four bedroom one bath apartment. Both apartments include a washer/dryer. There is off street parking for tenants and guests. There are six rented parking stalls adding extra income. The double garage is also rented separately. The interior finishes include marble, tile, granite, and stainless steel appliances. There is a private 19x17 patio on the south side of the property. This is located on the city bus route and walkable to everything downtown. It's about a half mile to Minnesota State University Mankato campus and has been traditionally occupied by students. The zoning is CBDF, Central Business District Fringe. The garage is a possible office conversion.

Full Property Details for 520 S 2nd St

General

  • Price: $564,900
  • Taxes: $5,410 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7025043
  • Updated: 2/23/2026
  • Added to Site: 4 day(s) ago

Interior

  • Appliances: Dishwasher, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances, Washer

Additional Information

  • Amenities: Tile Floors

Parking

  • Garage: Yes
  • Attached garage: Yes
  • Garage Spaces: 2
  • Parking Features: Attached Garage, Paved Lot

Location

  • County: Blue Earth
  • Township: Mankato
  • Subdivision: Auditors 1
  • Driving Directions: Main St. to Second St. go S.

School Information

  • School District: 2262 - Mankato
  • High School District: Mankato

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Baseboard, Forced Air
  • Heating Fuel: Electric, Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate, Hot Water Common

Structural Information

  • Basement: Yes
  • Basement Desc.: Unfinished
  • Foundation Size: 1000
  • Disability Access: None
  • Current Bldg. Use: Residential
  • Year Built: 1884

Lot Features

  • Lot Size (Acres): 0.239
  • Lot Dimensions: 66 x 157.5
  • Frontage: City Street
  • Potential Use: Office, Professional Service
  • Zoning: Business/Commercial

Financial Considerations

  • Operating Expenses: $21,050
  • Tax Amount: $5,410
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Electricity, Heat, Hot Water, Insurance, Grounds Care, Repairs, Snow Removal, Taxes, Trash Collection, Water
  • Tenant Pays: Broadband, Cable TV, Telephone
  • Pays Cable: Tenant Pays
  • Pays Electric: Owner Pays
  • Pays Heat: Owner Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: AUDITORS PLAT 1 LOT A 000 000 00
  • Inclusions: Building, Land, Rental License
  • Property ID: R010918106027

Listed by RE/MAX Results

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Schools serving 520 S 2nd St

School District:Mankato Public School District
NameGradesDistance
Washington Elementary School, Mankato, MN
1100 Anderson Drive, Mankato, MN 56001
PK-51.3 mi
Prairie Winds Middle School
1200 Prairie Winds Drive, Mankato, MN 56001
6-82.9 mi
Mankato East Senior High School
2600 Hoffman Road, Mankato, MN 56001
9-122.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 520 S 2nd St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
2/20/2026
Listed
$564,900
2.71%
MLS
5/03/2021
Sold
$550,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 520 S 2nd St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$5,708
-2%
$357,900
-9%
2024
$5,805
29%
$391,600
53%
2021
$4,488
-21%
$256,100
-34%
2023
$5,680
—
$386,100
8%
2023
$5,680
32%
$358,000
49%
2020
$4,310
10%
$239,900
-4%
2019
$3,904
3%
$251,200
3%
2018
$3,778
10%
$244,900
6%
2017
$3,420
—
$230,400
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Non-MLS

520 S 2nd Street, Mankato, MN 56001 (MLS# 7025043) is a Commercial property. 520 S 2nd Street is currently listed for $564,900 and was received on February 20, 2026. Want to learn more about 520 S 2nd Street? Do you have questions about finding other Commercial real estate for sale in Mankato? You can browse all Mankato real estate or contact a Coldwell Banker agent to request more information.

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