Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Northside Dr NE Alexandria, MN 56308

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Affordable commercial property with city utilities and excellent drainage.

    Type:Land
    Lot size:
    0.60 Acres
    Added:
    Jul 29, 2024
    Days on Market:
    616
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for Northside Dr NE

    General Information

    Standard status
    Active
    Lot size
    0.60 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Stuart Wood

    Listing agent Stuart Wood License #40461926

    Listing office Edina Realty, Inc

    Listing date Jul 29, 2024

    Source Crexi

    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 Edina Realty, Inc

    Overview

    Affordable Commercial Property Ready to Build

    This commercial property offers an opportunity for building a business home within city limits. The parcel is suitable for various uses, including office space, shops, and storage buildings. It features city sewer and city water connections. The property benefits from excellent drainage and over 26,000 square feet of impervious area. Located on Northside Drive, just off North Nokomis, it provides quick access to Highway 29 North and is a short drive from I-94. The property is part of a new development where the owner has already addressed drainage and holding pond requirements.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Alexandria
    County
    Douglas
    State
    Minnesota
    Longitude
    -95.366688
    Latitude
    45.901791

    Nearby Similar for Sale

    • $2,500

      Prime Alexandria Office Space Available

      Highly visible corner property with ample parking and flexible configuration.
      2304 S Broadway Street, Alexandria, MN 56308
      View Details
    • $339,900

      Prime South Broadway Development Site

      Exceptional commercial development opportunity on highly traveled South Broadway.
      Tbd S Broadway, Alexandria, MN 56308
      View Details
    • $18

      Commercial Space Ready for Buildout

      Vanilla shell commercial space with great visibility and parking.
      211 Nokomis Street, Alexandria, MN 56308
      View Details
    • $7,500

      High-Visibility Commercial Space, Alexandria, MN

      Prime commercial space with high visibility and steady traffic.
      1301 N Nokomis NE, Alexandria, MN 56308
      View Details
    • $299,900

      Commercial Property in Alexandria, MN

      Centrally located commercial property with B-1 zoning and ample parking.
      2020 Fillmore Street, Alexandria, MN 56308
      View Details
    • $395,000

      Versatile Commercial Property on Nokomis

      Commercial and residential opportunity in a high-traffic Alexandria location.
      1205 N Nokomis NE, Alexandria, MN 56308
      View Details
    • $360,905

      Commercial Space in Alexandria, MN

      Commercial space for sale in Alexandria, Minnesota.
      2633 Jefferson Street, Alexandria, MN 56308
      View Details
    • $151,900

      Lake Ida View Land

      30x50 lot near Lake Ida, Alexandria, MN.
      Lot 7,Block 1 Lake Ida Way NW, Alexandria, MN 56308
      View Details
    • $44,900

      Residential Lot Near Geneva Golf

      Residential lot near Geneva Golf Course and downtown Alexandria.
      Tbd Null Lot-004 Geneva Golf Club Dr NE, Alexandria Twp, MN 56308
      View Details
    • $39,900

      Lake Jessie Residential Land

      Residential land for sale near Lake Jessie in Alexandria, MN.
      Lot 43 Jessie View Drive SE, Alexandria, MN 56308
      View Details
    • $52,900

      Lake Jessie Residential Lot

      Residential lot in developed association community on Lake Jessie shores.
      Lot 24 Jessie View Drive SE, Alexandria, MN 56308
      View Details
    • $49,900

      Lake Jessie Residential Land

      Residential land for sale near Lake Jessie in Alexandria, MN.
      Lot 12 Jessie View Drive SE, Alexandria, MN 56308
      View Details

    FAQs

    What type of property is this?
    Commercial land - Affordable commercial property with city utilities and excellent drainage.
    Where is this commercial land located?
    The property is located at Northside Dr NE Alexandria, MN.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: Affordable commercial property within city limits.; Over 26,000 SF of impervious area.; Excellent drainage already in place, eliminating the need for a costly holding pond.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Stuart Wood
    Real Estate License ID: 40461926
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!