515 22Nd Ave Alexandria, MN 56308
- Office Properties & Spaces
- 10,253 SF
- 0.90 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 515 22Nd Ave
- Year built
- 2009
- Lot size
- 0.90 lot acres
- Property size
- 10,253 SF
- Property type
- Office Properties & Spaces
- APN
- 63-2963-200
- APU
- 632963200
Description
This exceptional 10,253-square-foot Class A medical office building is situated in Alexandria, Minnesota's thriving medical district at 515 22nd Avenue E. Originally constructed in 2009 as a Veterans Affairs Clinic, this meticulously maintained property offers a turnkey solution for medical professionals. The building boasts 23 exam rooms, providing ample space for a variety of medical specialties. Five bathrooms ensure convenience for both patients and staff. Extensive administrative office space is also included, allowing for efficient workflow and management. The property sits on a 0.9-acre lot and includes a substantial parking area with 42 stalls. Scheduled for completion in the summer of 2024, the parking lot will undergo a comprehensive resurfacing and restriping project, further enhancing the property's appeal. Priced at $2,495,000, this offering represents a significant value compared to the cost of new construction. This ready-to-occupy facility presents an unparalleled opportunity for a new clinic, senior care center, or similar medical practice seeking a prestigious and functional space in a prime location. The building's history as a VA clinic speaks to its high-quality construction and design.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,050,000
- 6.5%
- $1,145,000
- 7%
- $1,035,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,000,000
- Geo Method
- $1,050,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,030,000
- Retail
- $895,000
- Mixed-Use
- $940,000
- Hospitality
- $1,055,000
- Educational
- $965,000
- Residential Income
- $1,200,000
- Energy
- $970,000
- Income-Based Land
- $1,195,000
- Food Service
- $1,225,000
Location Insight
- Map
- Local Demand
- City
- Alexandria
- County
- Douglas
- State
- Minnesota
- Longitude
- -95.3702
- Latitude
- 45.8666
- CBSA code
- 10820
- CBSA name
- ALEXANDRIA, MN MICROPOLITAN STATISTICAL AREA
