Listed by NAI North Star
Unpriced
Lor Ray Drive Development Site
Details
Property Type Land
Sub Type Commercial, R-1 Development
Price Per Acre $30,000
Acreage 47.980
Zoning R-1
Land | 47.98 acres
Marketing description
Exceptional 48+ acre R-1 development opportunity in North Mankato, MN, offering an ideal setting for single-family residential builders. This site combines strong development fundamentals with the natural beauty of rolling terrain, mature surroundings, and scenic views. Located near 51671 Lor Ray Drive, the property provides a peaceful, upscale environment while remaining minutes from Mankato’s core amenities. Positioned for high-demand housing growth, this land delivers a rare blend of build-ready potential and attractive landscape appeal for developers targeting premium residential communities.
Prime 48+ acre residential development site located near 51671 Lor Ray Drive in North Mankato, MN. Positioned in a high-growth corridor, this property offers strong accessibility to US-14, downtown Mankato, and key amenities including schools, retail, and healthcare. Zoned and guided for R-1 residential use, the site is ideal for single-family home builders and developers seeking scalable opportunities in an expanding market. Attractive topography and proximity to established neighborhoods support efficient subdivision planning and long-term value creation.
Investment highlights
- ~48 Acre Site
- R-1 Development Opportunity
- Mature Neighborhoods/Surroundings for Prime SFH Build Sites
- High-Demand Housing Growth
- Growth Targets: Planning documents highlight a need for roughly 74 or more new, housing units annually to support the, tax base.
- Homeownership: A high percentage of residents own their homes.
- North Mankato is experiencing a strong, competitive housing market with rising prices—the average value reached roughly $303,600 by early 2026, a 5.6% YoY increase.
- Housing Costs: The largest share of households pay property taxes in the $3k+ range.
Listing Contacts
Listed by NAI North Star
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