Heated Shop with Two Overhead
For Sale
$139,900
4760 Country Shrs Sw, Alexandria, MN 56308
A fully finished, heated shop on a buildable residential lot, featuring multiple access doors and in-floor drainage.
Property Size1,500 SF
Price / SF$93.27
Days on Market286
Property Features for 4760 Country Shrs Sw
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Land
Warehouse & Industrial
Clear Height
9 ft
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$1,054
Listing Agency:
Century 21 First Realty, Inc.
(320) 766-2200
Listed By:
Todd J Whiting
(320) 766-2200
Source:
Exprealty
Added: Oct 31, 2025
Changed: Aug 8
Last Checked: Jul 15 at 8:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 First Realty, Inc.
Investment Insights
Based on property information with market context.
This offering includes a fully finished, heated shop designed for year-round use on a buildable residential lot. The shop is served by two 8' x 10' overhead doors plus two service doors for flexible loading and access. Interior features include 9' ceilings, excellent lighting, and an in-floor drain. Utility and workshop support are built in with air compressor lines and abundant electrical outlets. Additional functional improvements include built-in cabinetry and attic storage, creating a practical workspace for projects, hobbies, or storage.
The property is located just outside Alexandria in the Country Shores neighborhood. The lot setting is described as peaceful and private, with mature oak trees, while still keeping daily convenience in view. Access to Alexandria’s south side is indicated at about 5 minutes, and I-94 is shown as approximately 2 minutes away.
For buyers seeking a shop-first setup, the heated, finished interior and multiple access doors can support a variety of light industrial or personal-use operations. The surrounding residential buildable lot also allows for planning around a future home, keeping the property’s use aligned with both workspace needs and longer-term residential intent.
The property is located just outside Alexandria in the Country Shores neighborhood. The lot setting is described as peaceful and private, with mature oak trees, while still keeping daily convenience in view. Access to Alexandria’s south side is indicated at about 5 minutes, and I-94 is shown as approximately 2 minutes away.
For buyers seeking a shop-first setup, the heated, finished interior and multiple access doors can support a variety of light industrial or personal-use operations. The surrounding residential buildable lot also allows for planning around a future home, keeping the property’s use aligned with both workspace needs and longer-term residential intent.
Key Highlights
- Fully finished, heated shop on a buildable residential lot just outside Alexandria
- Over 1,500 sq. ft. shop with 9' ceilings and excellent interior lighting
- Shop includes two 8' x 10' overhead doors plus two service doors for access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,645
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,900
$232.9K
Cap Rate 7%
$166,357
$166.4K
Cap Rate 9%
$129,389
$129.4K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.9K $9.96/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$13.7K $9.13/SF
− OpEx
−$2.1K −$1.37/SF
NOI
$11.6K $7.76/SF
Area
Douglas County, MN
Vacancy
8.30%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$232,900
Cap Rate 7%
$166,357
Cap Rate 9%
$129,389
Alternative Uses
Best Use
Warehouse
$166.4K
$145.6K – $194.1K
NOI $11,645 @ 7.0% cap · market cap 8.32%
Second Best
Industrial
$129.6K
$113.4K – $151.2K
NOI $9,072 @ 7.0% cap · market cap 6.48%
Theoretical Best
Specialty Retail
$472.9K
$413.8K – $551.8K
NOI $33,106 @ 7.0% cap · market cap 23.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 56308, MN
26,391
Population
14,350
Households
1.8
Avg Household Size
44
Median Age
33%
College-Educated
96%
High-School Grad
155.9 sq mi
ZIP Area
169
Density / Sq Mi
$76,831
Median Household Income
$43,999
Median Earnings
$921
Median Rent
$307,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - A fully finished, heated shop on a buildable residential lot, featuring multiple access doors and in-floor drainage.
Where is this warehouse located?
The property is located at 4760 Country Shrs Sw Alexandria, MN.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Fully finished, heated shop on a buildable residential lot just outside Alexandria; Over 1,500 sq. ft. shop with 9' ceilings and excellent interior lighting; Shop includes two 8' x 10' overhead doors plus two service doors for access
