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Market Way
Mankato, MN 56001
Land For Sale · 5.85 AC

Executive Summary

The area is surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

Property Facts

Sale Type Investment or Owner User
No. Lots 3
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Mixed Use
  • Multifamily
Total Lot Size 5.85 AC

3 Lots Available

Lot Lot 1

Price $2,046,360 CAD
Price Per AC $790,100.42 CAD
Lot Size 2.59 AC

2.59 acres Zoned B3 HWY Commercial for a broad range of business and services, automotive and light industrial uses. Ideally located for C-Store and Car Wash at the corner of Hoffman and CR 12, just East of the Hoffman Rd.

Lot Lot 3

Price $2,728,480 CAD
Price Per AC $897,526.35 CAD
Lot Size 3.04 AC

3.04 acre site Zoned B3 HWY Commercial for a broad range of business and services, apartments or dwelling spaces proposed above ground floor proposed.

Lot 1 Aveyda

Price $687,577 CAD
Price Per AC $3,125,349.93 CAD
Lot Size 0.22 AC

Shovel ready building pad for up to 42 units in Building 1 with 9424 SF and 63 allocated parking stalls.

Description

1 Market Way: Position your brand at the center of growth on the east side of Mankato. This premier commercial site sits at the entrance to a new subdivision delivering 800+ households, with close proximity to a middle school and surrounding high-density residential—creating built-in daily traffic from day one. Designed for a convenience store with car wash, this location offers great visibility and accessibility in one of Mankato’s fastest-growing corridors. Within 1 mile of major retailers and shopping, the site benefits from strong co-tenancy and established consumer patterns, while still capturing untapped neighborhood demand. The property is ideally positioned just 2.7 miles from regional hospitals and clinics and 3.4 miles from Minnesota State University, Mankato, providing a steady flow of commuters, students, and professionals. Construction-ready July 2026, with grading and infrastructure already in place, this site significantly reduces development timelines and upfront costs. Mankato serves as a regional hub for employment, shopping, and entertainment, drawing from a 1.6 million+ trade area, making this an ideal opportunity for operators seeking long-term growth and high-volume potential. Its location also offers convenient access to the Minneapolis–Saint Paul metro, just 1 hour and 15 minutes away. This is a rare chance to secure a high-visibility, high-demand corner in a rapidly expanding market—perfectly suited for a next-generation convenience store and car wash concept. 3 Market Way: Positioned at the gateway to one of the fastest growing areas of Mankato, this exceptional development opportunity blends visible commercial potential with built in multifamily demand. Anchored at a prominent roundabout entrance, this site offers terrific exposure and accessibility, ideal for retail, service, grocers, clinics and convenience oriented users looking to capture daily traffic from over 800 new households within blocks. The surrounding neighborhood is rapidly taking shape, with additional high density housing and a middle school driving consistent daytime and evening activity. The offering includes plans for the capacity of 61 multifamily units, creating an immediate on site customer base and long-term value through mixed use synergy. Residents and nearby rooftops benefit from close proximity to other major retail and shopping destinations within one mile, along with convenient access to regional healthcare just 2.7 miles away and Minnesota State University, Mankato only 3.4 miles from the site. Located on the highly desirable east side of Mankato, this corridor continues to see strong residential and commercial expansion, making it a strategic location for forward thinking developers and operators. The site is construction ready July 2026, with infrastructure and grading already included, significantly reducing upfront costs and accelerating your timeline. Mankato serves as a regional hub supporting a trade area of approximately 1.6 million people for employment, shopping, and entertainment in Southern MN and Northern IA, and yet just over an hour to the Twin Cities. This is a rare opportunity to establish a presence at the front door of growth where rooftops, traffic, and demand are already in motion. 1 Aveyda Way: Shovel ready building pad for up to 42 units in Building 1 with 9424 SF and 63 allocated parking stalls. Located on a total of 19 acres positioned on the high-growth east side of Mankato, this shovel-ready development offers a prime opportunity for multifamily or senior housing with the capacity for 610 units in total. Zoned Office Residential, the opportunity for development and use is vast. The site is planned for 10 buildings to house 610 units with grading and infrastructure included and construction readiness by July 2026. Surrounded by strong demand drivers, the property is within one mile of major retail and shopping, 2.7 miles from regional hospitals and clinics, and just 3.4 miles from Minnesota State University, Mankato. Mankato continues to experience steady growth fueled in part by in-migration from its broader trade area, serving a regional population of approximately 1.6 million, with a core population exceeding 340,000. This dynamic position the site as an ideal location for developers targeting sustained rental demand and long-term appreciation. Over the past five years, Mankato has faced a persistent undersupplied rental market, with vacancy rates under 2% for several years. Recent new developments have begun easing pressure, bringing the market closer to equilibrium, but it remains structurally demand-driven. Even with these deliveries, renter demand remains strong, and studies project a need for over 6,500 additional units by 2035 to meet growth and housing needs.

  • Listing ID: 39923285

  • Date on Market: 2026-03-26

  • Last Updated:

  • Address: Market Way, Mankato, MN 56001

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