235 - 237 Belgrade Avenue, North Mankato, MN 56003

$2,600,000
Property Type: Commercial Bedrooms: 7 Baths: 8 Lot Size (sq. ft.): 7,841 Status: Active
Current Price: $2,600,000 List Date: 12/15/2025 Last Modified: 1/27/2026

Overview

Description

Premier Mixed-Use Property | Modern Retail Space + Five Luxury ApartmentsDiscover an exceptional opportunity to own an elegant, modern mixed-use property perfectly suited for high-end wellness, boutique retail, or professional services. The main level features a beautifully designed upscale retail suite currently operating as a luxury skin and spa clinic, showcasing contemporary finishes, refined décor, and a tranquil, sophisticated atmosphere. Large display windows and thoughtfully curated lighting create a welcoming street presence ideal for any premium brand. The upper levels include five well-appointed apartments, each offering stylish modern design, open layouts, and abundant natural light. These residences provide stable rental income as well as conveniencefor on-site owners or staff. This property blends aesthetic appeal with practical functionality—perfect for investors, owner-operators, or entrepreneurs seeking a turnkey space in a desirable location. With its elegant design, updated infrastructure, and strong mixed-use potential, this is a rare offering that delivers both luxury and long-term value.

Listing Details MLS# 7000269

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
6
Owner Occupied
Yes
Waterfront Present
No
Year Built
1896
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
1896
For Sale or Lease
For Sale
Acres
0.18
Lot Dimensions
50.01x155.15
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Central Air CMU Style: Apartments and Retail Construction Status: Previously Owned Current Use: Professional Service Exterior: Brick/Stone Foundation: Other Fuel: Natural Gas Heating: Forced Air Lock Box Type: None On Site Utilities: Electric Separate Parking Characteristics: Other Rental License Type: Standard Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: All Utilities Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
2600000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
235 - 237
Street Name
Belgrade
Street Suffix
Avenue
Postal City
North Mankato
County
Nicollet
State
MN
Zip Code
56003

Assessments

Assessment Balance
126
Tax With Assessments
40918
Assessment Installment
0

Building Information

Building Finished SqFt
7846
Building SqFt
7846

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Sale Options

Sale Includes
Building

Unit 1

Unit Number
201
Monthly Rent
1550
Full Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
2
Leased?
Yes
Lease Expiration Date
2026-06-09
No. of 1 Bedroom Units
3

Unit 2

No. of 2 Bedroom Units
2
Full Baths
Yes
Lease Expiration Date
2026-05-31
Leased?
Yes
Monthly Rent
1600
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
202

Unit 3

Full Baths
Yes
Lease Expiration Date
2026-05-08
Leased?
Yes
Monthly Rent
1500
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
301

Unit 4

Full Baths
Yes
Lease Expiration Date
2026-09-30
Leased?
Yes
Monthly Rent
1550
Total Bathrooms
Yes
Total Bedrooms
2
Unit Number
302

Unit 5

Full Baths
Yes
Lease Expiration Date
2024-10-01
Leased?
Yes
Monthly Rent
1600
Total Bathrooms
Yes
Total Bedrooms
Yes
Unit Number
237 1/2

Unit 6

Half Baths
3
Lease Expiration Date
2026-02-10
Leased?
Yes
Level
Main Level
Monthly Rent
1500
Total Bathrooms
3
Total Rooms
10
Unit Number
235
Unit Total SqFt
4196

Unit Details

Total Units
6

Office/Member Info

Association
SEMR

Location, Tax and Other Information

Legal Description
BLK 1 & PT BLK 6; E 25' LOT 8 BLK 6; W 25' LOT 7 BLK 6 BLK 1 & PT BLK 6; E 25' LOT 8 BLK 6; W 25' LOT 7 BLK 6 SUBD OF BK 1 & PT BK 6
Listing City
North Mankato
Map Page
999
Municipality
North Mankato
School District
Mankato
School District Phone
507-387-1868
Zip Plus 4
1009
Property ID Number
188020130
Tax Year
2025
Tax Amount
40792
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Premier Mixed-Use Property | Modern Retail Space + Five Luxury ApartmentsDiscover an exceptional opportunity to own an elegant, modern mixed-use property perfectly suited for high-end wellness, boutique retail, or professional services. The main level features a beautifully designed upscale retail suite currently operating as a luxury skin and spa clinic, showcasing contemporary finishes, refined décor, and a tranquil, sophisticated atmosphere. Large display windows and thoughtfully curated lighting create a welcoming street presence ideal for any premium brand. The upper levels include five well-appointed apartments, each offering stylish modern design, open layouts, and abundant natural light. These residences provide stable rental income as well as conveniencefor on-site owners or staff. This property blends aesthetic appeal with practical functionality—perfect for investors, owner-operators, or entrepreneurs seeking a turnkey space in a desirable location. With its elegant design, updated infrastructure, and strong mixed-use potential, this is a rare offering that delivers both luxury and long-term value.
Directions
Range left on Belgrade building on the right.

Accessible

None
Yes

Air Conditioning

Central Air
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Foundation

Other
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Lock Box Type

None
Yes

Parking Characteristics

Other
Yes

Rental License Type

Standard
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Water

City Water/Connected
Yes

Tenant Pays

All Utilities
Yes

On Site Utilities

Electric Separate
Yes

CMU Style

Apartments and Retail
Yes

Current Use

Professional Service
Yes
Listing Office: Keller Williams Premier Realty
IDX
Last Updated: January - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.