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Property profile & analytics
OFF-MARKET
Estimated value
$915,000
Grocery and convenience stores
3181 Evergreen Ln Alexandria, MN 56308-5190
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US46-1839298
Property summary
AI-generated overview
This 6,600 sq ft warehouse, ideally situated just off I-94 and Hwy 27 near Alexandria, offers exceptional visibility and access to a large customer base. Located at a busy truck stop, this single-tenant property boasts a prime location for businesses seeking high traffic exposure. The warehouse features convenient front and rear access doors, a restroom, ample signage opportunities, and impressive 18+ foot ceiling heights. A 10-foot overhead door ensures easy loading and unloading of goods. The monthly rent is $0.775 per square foot, or $9.30 per square foot annually. Tenants are responsible for heat and electricity; all other costs are included in the gross lease. This property presents a unique opportunity to establish a thriving business in a high-demand location. A 3D virtual tour is available for prospective tenants. The dimensions of the space are 55 feet by 120 feet. Don't miss this chance to secure a prominent position in a busy commercial corridor. The property is located in Douglas County.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
2008
Total area
10,674 SF
Lot
12.61 ac (549,292 SF)
APN
63-3510-500
UPID
US46-1839298
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$915k
Owner & transaction history
Wm3d Properties LLC · 18 yrs held
Wm3d Properties LLC
since 2008
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,350,000
Change: 0% · Conversion: Easy
RESTAURANT
$1,180,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,010,000
Change: 0% · Conversion: Easy
WAREHOUSE, STORAGE
$780,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$915k
Range $824k – $1.01M · ±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
$86 / 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
$83,988
Tax year 2023
Assessed value
$3,258,100
Assessed 2023
Previous assessed
$3,104,000
+5.0% YoY
Effective rate
2.58%
On assessed value
Assessed land
$786,400
Assessed improvement
$2,471,700
Land market value
$786,400
Improvement market value
$2,471,700
Total market value
$3,258,100
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
Similar Nearby for Lease
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
2008
Heating
NONE
Buildings
2
Total area
10,674 SF
Lot
12.61 ac (549,292 SF)
APN
63-3510-500
UPID
US46-1839298
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
COMMERCIAL (GENERAL)
Est. value
$1.4M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$780,000
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
WAREHOUSE, STORAGE
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
2008
Heating
NONE
Buildings
2
Lot
12.61 ac
Current owner
From public records · entity-resolved
Wm3d Properties LLC
Entity
Mailing address
9150 187TH AVE NE, NEW LONDON, MN 56273-9810
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2008
$800,000
Wm3d Properties LLC
Reed F Hvezda
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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