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    1803 Nokomis Alexandria, MN 56308

    For Sale
    $249,900

    3.67 Acres, B-1 Zoning, High Visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 3.67-acre commercial land parcel presents a remarkable investment opportunity in Alexandria, Minnesota. Strategically located in a high-visibility area, boasting road frontage on three sides, this property enjoys proximity to a thriving mix of residential, business, and educational establishments. Its B-1 General Business zoning allows for a wide range of commercial development possibilities, making it ideal for ventures such as convenience stores, quick-service restaurants, or hotels. The property's advantageous position places it near popular attractions including a premier chain of lakes, Zorbaz, Lure Lakebar, Alexandria Golf Course, and Voyager Elementary School, ensuring high traffic and visibility. An existing house on the property is in disrepair, but could potentially be renovated or removed; a demolition estimate of $16,000 is available. The house currently utilizes city sewer, electricity, and natural gas heat, and is served by a private well. This prime location and flexible zoning make this land a truly exceptional opportunity for commercial development in a desirable Minnesota community. The property's address is 1803 N Nokomis NE, Alexandria, MN 56308, within Douglas County. The asking price is $249,900.

    Property Features for 1803 Nokomis

    General Information

    Property type
    Land
    Lot Size
    159,865 SF

    HighLights

    • $249,900 asking price.
    • 3.67‑acre commercial land parcel.
    • B‑1 General Business zoning.
    • Located in Alexandria, MN, in a high‑visibility area near schools, lakes, and businesses.
    • Existing house on property (condition poor; estimated demolition cost $16,000).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Alexandria
    County
    Douglas
    State
    Minnesota
    Longitude
    -95.3678818
    Latitude
    45.9107621

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    FAQs

    What type of property is this?
    Land - 3.67 Acres, B-1 Zoning, High Visibility
    Where is this land located?
    The property is located at 1803 Nokomis Alexandria, MN.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: $249,900 asking price.; 3.67-acre commercial land parcel.; B-1 General Business zoning.
    Request Owner's contact information
    1803 Nokomis Alexandria, MN 56308
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1803 Nokomis Alexandria, MN 56308
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