Alexandria, MN 56308

$1,100,000
Property Type: Commercial Square Footage: 6,700 Lot Size (sq. ft.): 40,946 Status: Pending
Current Price: $1,100,000 List Date: 2/25/2026 Last Modified: 7/03/2026

Overview

Description

For sale: 14 unit apartment building right off County Road 82 in the desirable, growing city of Alexandria. Large, nearly acre lot with over 130ft of frontage. Expand the building for more income potential or sit back and enjoy the cashflow. Most of the units have been updated with only 1 left to bring up to speed. Heated 24x30 garage currently rented, full basement on the Southeast wing for easy access to mechanicals and or storage for tools, appliances etc... Alexandria is the perfect spot to start or expand your portfolio. With lots of infrastructure and employment opportunities, the city continues to lead a strong demand for housing. Most of the units being studio apartments, you'll find these easy to rent out and maintain. Reach out to view financials and see the competitive cap rate this property is offered at.

Listing Details MLS# 7017065

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
20
Owner Occupied
No
Waterfront YN
No
Year Built
1950
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family
Foundation Size
5200
Garage Stalls
2
For Sale or Lease
For Sale
Acres
0.94
Lot Dimensions
140x295x140x295
Assessment Pending
No

Property Features

Accessible: No Stairs Internal Air Conditioning: Window Unit(s) Appliances: Dryer; Washer Basement: Concrete Block; Storage Space; Unfinished CMU Style: Apartments/Multi Family Construction Materials: Block; Concrete Construction Status: Previously Owned Current Use: Commercial; Residential Exterior: Vinyl Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Radiant On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: All Utilities Parking Characteristics: Parking Lot; Paved Lot Potential Use: Income Rental License Type: Standard Roof: Asphalt Shingles Sewer: City Sewer/Connected Shared Rooms: Other Stories: One Water: City Water/Connected

Contract Information

Off Market Date
2026-05-29
Contingency
None
ListPrice
1100000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

Postal City
Alexandria
County
Douglas
State
MN
Zip Code
56308
Complex/Dev/Subdivision
Holes 2nd Add

Assessments

Tax With Assessments
4236
Assessment Balance
0

Basement

Foundation Dimensions
Irregular
Concrete Block
Yes
Storage Space
Yes
Unfinished
Yes

More Information

Building Information

Building Finished SqFt
5200
Building SqFt
6700

Income and Expenses

Annual Gross Income
140520

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
30x24
Garage Door Height
7
Garage Door Width
8
Garage Square Feet
720
Parking Lot
Yes
Paved Lot
Yes

Public Survey Info

Range#
37
Section#
20
Township#
128

Sale Options

Sale Includes
Building, Land, Leases

Unit 1

No. of 1 Bedroom Units
3

Unit 2

No. of 2 Bedroom Units
Yes

Unit Details

Total Units
14

Unit Information

No. of Efficiency Units
10

Office/Member Info

Association
GAAAR

Location, Tax and Other Information

Legal Description
SEC-20 TWP-128 RANG-37 HOLES 2ND ADDN LOTS 1-6 BLK 3 EX N 17' OF LOT 1
Listing City
Alexandria
Map Page
999
Municipality
Alexandria
School District
Alexandria
School District Phone
320-762-2141
Zip Plus 4
601
Property ID Number
632471000
Tax Year
2025
Tax Amount
4236
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
For sale: 14 unit apartment building right off County Road 82 in the desirable, growing city of Alexandria. Large, nearly acre lot with over 130ft of frontage. Expand the building for more income potential or sit back and enjoy the cashflow. Most of the units have been updated with only 1 left to bring up to speed. Heated 24x30 garage currently rented, full basement on the Southeast wing for easy access to mechanicals and or storage for tools, appliances etc... Alexandria is the perfect spot to start or expand your portfolio. With lots of infrastructure and employment opportunities, the city continues to lead a strong demand for housing. Most of the units being studio apartments, you'll find these easy to rent out and maintain. Reach out to view financials and see the competitive cap rate this property is offered at.
Directions
From N Nokomis ST turn left onto 3rd Ave E. From there continue 0.4 miles. Turn right onto Spruce Street. Property is on you right.

Accessible

No Stairs Internal
Yes

Air Conditioning

Window Unit(s)
Yes

Appliances

Dryer
Yes
Washer
Yes

Construction Materials

Block
Yes
Concrete
Yes

Construction Status

Previously Owned
Yes

Exterior

Vinyl
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes
Radiant
Yes

Owner Pays

All Utilities
Yes

Rental License Type

Standard
Yes

Roof

Asphalt Shingles
Yes

Sewer

City Sewer/Connected
Yes

Shared Rooms

Other
Yes

Stories

One
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Common
Yes
Heating Common
Yes
Hot Water Common
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Commercial
Yes
Residential
Yes

Potential Use

Income
Yes
IDX
Listing Office: Hetland Realty, LLC
Last Updated: July - 03 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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