Spatial visualization is the mental ability to imagine, transform, and manipulate the spatial characteristics of objects and actions. This intelligence is a part of human cognition where actions and perception are connected on a mental level. To explore whether state-of-the-art Vision-Language Models (VLMs) exhibit this ability, we develop MentalBlackboard, an open-ended spatial visualization benchmark for Paper Folding and Hole Punching tests within two core tasks: prediction and planning. Our prediction experiments reveal that models struggle with applying symmetrical transformations, even when they predict the sequence of unfolding steps correctly. Also, rotations introduce a significant challenge to the physical situational awareness for models. The planning task reveals limitations of models in analyzing symmetrical relationships and in implementing the multi-stage symmetry process, with Claude Opus 4.1 achieving the highest planning score at an accuracy of 10\%. The top-performing model, o3, attains a peak performance of 71.6\% on the generalization task, which does not require spatial visualization but transfers spatial data; however, it achieves only 25\% accuracy on text-based prediction tasks.