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Property profile & analytics
FOR LEASE
Warehouses
1910 42Nd Ave W, Alexandria, MN 56308
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US46-1428003
For Lease
1 / 2
$4,685,000
1910 42Nd Ave W, Alexandria, MN 56308
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2019
Total area
48,143 SF
Lot
6.27 ac (273,121 SF)
APN
63-3148-260
UPID
US46-1428003
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.75M
Comparable Approach
Comparable
$4.78M
Blend (final)
Blend
$4.69M
Owner & transaction history
Richard G Jones · 5 yrs held
Richard G Jones
since 2021
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.9M
+45.1%
Restaurant
$6.2M
+29.2%
Retail stores
$5.2M
+8.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Alexandria submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alexandria submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,230,000
6.5%
$5,750,000
7%
$5,340,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,765,000
Current use
COMMERCIAL (GENERAL)
$6,910,000
Change: +45% · Conversion: Difficult
RESTAURANT
$6,155,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$5,165,000
Change: +8% · Conversion: Moderate
Blend value · Realmo final
$4.69M
Range $4.22M – $5.15M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$97 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$80,124
Tax year 2023
Assessed value
$3,427,800
Assessed 2024
Previous assessed
$3,427,800
+0.0% YoY
Effective rate
2.34%
On assessed value
Assessed land
$252,500
Assessed improvement
$3,175,300
Land market value
$252,500
Improvement market value
$3,175,300
Total market value
$3,427,800
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
2019
Heating
NONE
Total area
48,143 SF
Lot
6.27 ac (273,121 SF)
APN
63-3148-260
UPID
US46-1428003
Jurisdiction
DOUGLAS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.8M
COMMERCIAL (GENERAL)
Est. value
$6.9M
RESTAURANT
Est. value
$6.2M
RETAIL STORES
Est. value
$5.2M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Heating
NONE
Lot
6.27 ac
Current owner
From public records · entity-resolved
Richard G Jones
Individual
Mailing address
1910 42ND AVE W STE #300, ALEXANDRIA, MN 56308-0029
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2021
$305,000
Richard G Jones
Goodneighbor Properties LLC
Warranty Deed
$228,800 · First Western Bank & Trust
Jan 28, 2020
$300,000
Goodneighbor Properties LLC
Lakes Area Economic Dev Authority
Warranty Deed
$314,890 · Blackridgebank
Dec 6, 2018
$320,000
Goodneighbors 1910 Building LLC
Goodneighbor Properties LLC
Quit Claim Deed
related
$2,245,000 · Blackridgebank
Oct 17, 2018
$160,000
Goodneighbor Properties LLC
Lakes Area Economic Development Aut
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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