Apartment Acquisitions · Mankato
Sell Your Commercial Property In Mankato, MN
We are an active buyer of Mankato commercial rental properties with five or more units, whether the building is fully leased, half vacant, or overdue for renovation.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Areas We Target: North Mankato · Old Town · Eagle Lake · Skyline — Blue Earth County, MN
Local Demand
Our View On Mankato
Mankato is a Blue Earth County city of 45,473 residents under ACS 2020-2024, home to Minnesota State University's 15,721 students and the Mayo Clinic Health System hospital that added 121 beds in a 2024 expansion. Renters occupy 50.0% of Mankato's occupied homes, and the median gross rent is $1,132. Mankato's median household income is $66,873, 75% of the Minnesota median. Owners planning to sell commercial property in Mankato, MN face a payable 2026 total tax capacity rate of 105.851% in the city's main ISD 077 tax district.
MSU Mankato enrollment
Minnesota State University, Mankato enrolled 15,721 students in fall 2025, concentrating rental demand near campus.Mayo Clinic hospital expansion
Mayo Clinic Health System's Mankato hospital added 121 beds in a 2024 expansion that opened that May.Manufacturing employment base
Blue Earth County manufacturing employers supported 4,234 jobs in 2022, 10.9% of county jobs, per MN DEED.Our Buy Box
What We Buy In Mankato
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Mankato Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Mankato
Renters occupy 50.0% of Mankato's 18,075 occupied homes, 9,029 households, under ACS 2020-2024 tenure data. Buildings of five or more units hold 33.0% of Mankato's housing, 6,439 of 19,529 total homes, per ACS units-in-structure data. The median year built in Mankato is 1982, with 48.2% of homes built before 1980, under the same ACS table.
Rents and affordability
Mankato's median gross rent is $1,132 under ACS 2020-2024, $148 below Minnesota's $1,280 median. Rent takes 30% or more of income for 47.5% of Mankato renter households. Owners who sell commercial real estate in Mankato, MN can compare local rent against HUD's two-bedroom benchmark below.
| Unit size | HUD FY2027 FMR |
|---|---|
| Efficiency | $1,016 |
| One bedroom | $1,023 |
| Two bedroom | $1,230 |
| Three bedroom | $1,703 |
| Four bedroom | $1,744 |
HUD FY2027 fair market rents cover the Mankato, MN MSA.
Property taxes in Blue Earth County
A $2,000,000 Mankato apartment building owes about $29,282 in payable 2026 property tax in the city's main ISD 077 tax district, an effective 1.46%. Minnesota classes buildings of four or more rental units as class 4a at 1.25% of market value under Statutes 273.13, giving $25,000 of tax capacity. Blue Earth County's current tax rates set a 105.851% total tax capacity rate for district 01-0077, producing $26,463, plus a 0.14095% referendum market-value levy adding $2,819. Owners who sell commercial property in Mankato, MN also owe Minnesota's deed tax of 0.33% of net consideration, $6,600 on a $2,000,000 sale.
Landlord rules
Minnesota requires deposits back with 1% simple annual interest, or a written statement of deductions, within three weeks after a tenancy ends, under Statutes 504B.178. A nonpayment eviction filing must follow a written notice giving the tenant 14 days to pay or move, per Statutes 504B.321. Statutes 471.9996 bars Minnesota cities, including Mankato, from controlling rents on private residential property unless a general election approves the ordinance, so anyone selling commercial property in Mankato faces no local rent caps.
What it means for an owner
Mankato's 6,439 homes in buildings of five or more units sit near Minnesota State University's 15,721 students and the Mayo Clinic Health System hospital that added 121 beds in 2024, concentrating rental demand around both campuses. Owners ready to sell commercial property in Mankato, MN can price rents against the $1,230 HUD two-bedroom benchmark and the 105.851% tax capacity rate above.
Skyline Capital Investments buys 5+ unit apartment buildings. To sell your apartment building in Mankato, test your numbers with our cap rate calculator, then start on our sell my apartment building page.
Seller Notes
Pricing Your Building In Mankato
More about selling in Minnesota →Investing in Mankato? See apartment syndications in Mankato →
- Anyone ready to sell commercial real estate in Mankato, MN should have deposit interest ledgers ready for buyers.
- Investors should expect younger apartment stock near campus, with a citywide median year built of 1982.
- Mankato's main tax district, ISD 077, carries a 105.851% total tax capacity rate for payable 2026.
Seller Guides
Selling A Building In Mankato
Learn More
Taxes & Rules For Mankato Property
The Minnesota rules that shape any deal in Mankato: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Mankato Seller FAQ
How are apartments taxed if I sell commercial property in Mankato, MN?
Minnesota classes buildings of four or more rental units as class 4a at 1.25% of market value. A $2,000,000 Mankato building in district 01-0077 carries $25,000 of tax capacity. Blue Earth County's 105.851% rate plus the referendum levy produces about $29,282 a year.
How fast must deposits be returned when I sell commercial real estate in Mankato, MN?
Minnesota Statutes 504B.178 requires a deposit back with interest, or a written statement of deductions, within three weeks after a tenancy ends. Deposits earn 1% simple annual interest. Mankato buyers will expect a ledger showing interest accrued on each unit.
How many apartments are in Mankato?
Mankato has 6,439 homes in buildings of five or more units under ACS 2020-2024, or 33.0% of its 19,529 total homes. Nearly half of Mankato's housing, 48.2%, was built before 1980, with a citywide median year built of 1982.
Can Mankato limit rent increases on my building?
Minnesota Statutes 471.9996 bars cities from controlling rents on private residential property unless a general election approves it. Owners who sell multifamily property in Mankato pass on leases governed by state 504B rules, including the 14-day nonpayment eviction notice.
How do Mankato rents compare with HUD fair market rent?
Mankato's median gross rent is $1,132 under ACS 2020-2024. HUD's FY2027 two-bedroom fair market rent for the Mankato, MN MSA is $1,230, or $98 higher. Rent takes 30% or more of income for 47.5% of Mankato renter households.
Do I need to fix up my Mankato building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
Can I sell my Mankato apartment building off-market?
Yes. We work directly with owners and through listing agents. Off-market conversations are confidential, and we coordinate tours so tenants and staff are not disrupted.
Is it possible to sell rental property in Mankato without evicting tenants?
It is. We buy apartment buildings occupied, and tenants stay on their current leases. Skyline Capital Investments is a commercial real estate buyer of 5+ unit buildings, so occupied properties are the norm for us.
How fast can I sell my apartment building in Mankato?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Tell Us About Your Property In Mankato
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
