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Property profile & analytics
OFF-MARKET Estimated value $1,295,000
Office Spaces

515 22nd E Ave Alexandria, MN 56308-4652

10,253 SF 0.9 ac lot Built 2009
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US46-1142300
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 2009
Total area 10,253 SF
Lot 0.9 ac (39,204 SF)
APN 63-2963-200
UPID US46-1142300
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
$1.34M
CAP Approach CAP
$1.56M
Comparable Approach Comparable
$1.37M
Blend (final) Blend
$1.30M
Owner & transaction history
Cnva Properties LLC · 4 yrs held
Cnva Properties LLC
since 2021
Last sale
$1.1M
3 recorded transactions
2021
Price N/A
2021
$1.1M
2009
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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