316 N Nokomis Street, Alexandria, MN 56308

General Property Information

Lot Measurement: Acres
Management Company Name: Owner Managed
Multiple PIDs?: No
Other Parking Spaces: 8
Owner Occupied: No
Waterfront Present: No
Year Built: 1956
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: 2387
For Sale or Lease: For Sale
Acres: 0.18
Lot Dimensions: 60x135x60x135
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: Doors 36"+; Grab Bars In Bathroom; No Stairs External; No Stairs Internal; Partially Wheelchair Air Conditioning: Central Air Amenities Shared: Concrete Floors & Walls Amenities Unit: In-Ground Sprinkler Assumable Loan: Not Assumable Basement: None CMU Style: Freestanding; Office Construction Materials: Concrete; Frame Construction Status: Previously Owned Current Use: Beauty/Barber Shop; Business Service; Commercial; Office; Professional Service Exterior: Stucco; Wood Flooring: Carpet; Luxury Vinyl Tile Foundation: Slab Fuel: Natural Gas Heating: Forced Air Internet Options: Fiber Optic Loan Terms: Cash; Conventional Location Description: Free Standing Lock Box Type: Supra Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Separate Owner Pays: Exterior Maintenance; Grounds Care; Insurance; Janitorial Service; Janitorial Service; Maintenance/Repair; Pest Control; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot; Paved Lot Potential Use: Income; Office; Other; Professional Rent Rate per Foot: Gross; Net Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat Sewer: City Sewer/Connected Stories: One Tenant Pays: All Utilities; Gas; Heat; Hot Water; Janitorial Service; Maintenance/Repair; Security Topography: Level Wall Description: Drywall Water: City Water/Connected Window Features: Double Pane Windows

Contract Information

Contingency: None
ListPrice: 425000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 316
Street Direction Prefix: N
Street Name: Nokomis
Street Suffix: Street
Postal City: Alexandria
County: Douglas
State: MN
Zip Code: 56308
Complex/Dev/Subdivision: Lakeside Add

Assessments

Tax With Assessments: 6672
Assessment Balance: 0

Basement

Foundation Dimensions: 35x68x35x68
None: Yes

More Information

Building Information

Building Finished SqFt: 2387
Building SqFt: 2387
Ceiling Height: 8-10

Income and Expenses

Annual Gross Income: 45480
Annual Insurance Expense: 1541.55

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: ALEX
Supra: Yes

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 37
Section#: 17
Township#: 128

Sale Options

Sale Includes: Building, Leases

Unit 1

Unit Number: Yes
Monthly Rent: 850
Half Baths: 2
Total Bathrooms: 2
Total Rooms: Yes
Level: Main Level
Leased?: Yes
Lease Expiration Date: 2026-07-30

Unit 2

Half Baths: 2
Lease Expiration Date: 2027-07-01
Leased?: Yes
Level: Main Level
Monthly Rent: 700
Total Bathrooms: 2
Total Rooms: Yes
Unit Number: 2

Unit 3

Half Baths: 2
Lease Expiration Date: 2027-10-01
Leased?: Yes
Level: Main Level
Monthly Rent: 700
Total Bathrooms: 2
Unit Number: 3

Unit Details

Total Units: 4

Office/Member Info

Association: GAAAR

Location, Tax and Other Information

Legal Description: SEC-17 TWP-128 RANG-37 LAKESIDE ADDN LOT 10 BLOCK 10 EXC E 8 FT
Listing City: Alexandria
Map Page: 999
Municipality: Alexandria
School District: Alexandria
School District Phone: 320-762-2141
Zip Plus 4: 5115
Property ID Number: 630503000
Tax Year: 2026
Tax Amount: 6672
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Calling all investors. This is a one in a lifetime opportunity to get a turnkey investment. This investment portfolio comes with a full house of tenants, completely remodeled, turnkey. It is essentially maintenance free. This is a rare find, and a true gem. It is set up to be hands-free and be a great investment. The front office suite is a financial company. They pay their own utilities and have their own space. The second suite is office suites with three suites, and a potential fourth suite, two bathrooms and a common corridor. The beauty of this investment is, it is main level, no steps and has great parking. When you’re talking about building your investment portfolio, adding to it or starting your investment this is truly an investment you want to consider.
Directions: From Downtown. Go East on Third Ave E. Turn Left on N Nokomis St. The property will be on your right.

Accessible

Doors 36"+: Yes
Grab Bars In Bathroom: Yes
No Stairs External: Yes
No Stairs Internal: Yes
Partially Wheelchair: Yes

Air Conditioning

Central Air: Yes

Amenities Shared

Concrete Floors & Walls: Yes

Amenities Unit

In-Ground Sprinkler: Yes

Assumable Loan

Not Assumable: Yes

Construction Materials

Concrete: Yes
Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Stucco: Yes
Wood: Yes

Flooring

Carpet: Yes
Luxury Vinyl Tile: Yes

Foundation

Slab: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Internet Options

Fiber Optic: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Exterior Maintenance: Yes
Grounds Care: Yes
Insurance: Yes
Janitorial Service: Yes
Maintenance/Repair: Yes
Pest Control: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Parking Lot: Yes
Paved Lot: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Flat: Yes

Sewer

City Sewer/Connected: Yes

Stories

One: Yes

Topography

Level: Yes

Wall Description

Drywall: Yes

Water

City Water/Connected: Yes

Window Features

Double Pane Windows: Yes

Tenant Pays

All Utilities: Yes
Gas: Yes
Heat: Yes
Hot Water: Yes
Janitorial Service: Yes
Maintenance/Repair: Yes
Security: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes

CMU Style

Freestanding: Yes
Office: Yes

Current Use

Beauty/Barber Shop: Yes
Business Service: Yes
Commercial: Yes
Office: Yes
Professional Service: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Location Description

Free Standing: Yes

Potential Use

Income: Yes
Office: Yes
Other: Yes
Professional: Yes

Rent Rate per Foot

Gross: Yes
Net: Yes