316 N Nokomis Street, Alexandria, MN 56308 (MLS# 7072947)

316 N Nokomis Street, Alexandria, MN 56308

$425,000
Property Type: Commercial Baths: 6 Square Footage: 2,387 Lot Size (sq. ft.): 7,841 Status: Active
Current Price: $425,000 List Date: 6/19/2026 Last Modified: 6/26/2026

Overview

Description

Calling all investors. This is a one in a lifetime opportunity to get a turnkey investment. This investment portfolio comes with a full house of tenants, completely remodeled, turnkey. It is essentially maintenance free. This is a rare find, and a true gem. It is set up to be hands-free and be a great investment. The front office suite is a financial company. They pay their own utilities and have their own space. The second suite is office suites with three suites, and a potential fourth suite, two bathrooms and a common corridor. The beauty of this investment is, it is main level, no steps and has great parking. When you’re talking about building your investment portfolio, adding to it or starting your investment this is truly an investment you want to consider.

Listing Details MLS# 7072947

General Property Information

Lot Measurement
Acres
Management Company Name
Owner Managed
Multiple PIDs?
No
Other Parking Spaces
8
Owner Occupied
No
Waterfront YN
No
Year Built
1956
Yearly/Seasonal
Yearly
Zoning
Business/Commercial
Foundation Size
2387
For Sale or Lease
For Sale
Acres
0.18
Lot Dimensions
60x135x60x135
Assessment Pending
No

Property Features

Accessible: Doors 36"+; Grab Bars In Bathroom; No Stairs External; No Stairs Internal; Partially Wheelchair Air Conditioning: Central Air Amenities Shared: Concrete Floors & Walls Amenities Unit: In-Ground Sprinkler Assumable Loan: Not Assumable Basement: None CMU Style: Freestanding; Office Construction Materials: Concrete; Frame Construction Status: Previously Owned Current Use: Beauty/Barber Shop; Business Service; Commercial; Office; Professional Service Exterior: Stucco; Wood Flooring: Carpet; Luxury Vinyl Tile Foundation: Slab Fuel: Natural Gas Heating: Forced Air Internet Options: Fiber Optic Loan Terms: Cash; Conventional Location Description: Free Standing Lock Box Type: Supra Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Separate Owner Pays: Exterior Maintenance; Grounds Care; Insurance; Janitorial Service; Janitorial Service; Maintenance/Repair; Pest Control; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot; Paved Lot Potential Use: Income; Office; Other; Professional Rent Rate per Foot: Gross; Net Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat Sewer: City Sewer/Connected Stories: One Tenant Pays: All Utilities; Gas; Heat; Hot Water; Janitorial Service; Maintenance/Repair; Security Topography: Level Wall Description: Drywall Water: City Water/Connected Window Features: Double Pane Windows

Contract Information

Contingency
None
ListPrice
425000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
316
Street Direction Prefix
N
Street Name
Nokomis
Street Suffix
Street
Postal City
Alexandria
County
Douglas
State
MN
Zip Code
56308
Complex/Dev/Subdivision
Lakeside Add

Assessments

Tax With Assessments
6672

Basement

Foundation Dimensions
35x68x35x68

More Information

Building Information

Building Finished SqFt
2387
Building SqFt
2387
Ceiling Height
8-10

Income and Expenses

Annual Gross Income
45480
Annual Insurance Expense
1541.55

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
ALEX

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
37
Section#
17
Township#
128

Sale Options

Sale Includes
Building, Leases

Unit 1

Unit Number
Yes
Monthly Rent
850
Half Baths
2
Total Bathrooms
2
Total Rooms
Yes
Level
Main Level
Leased?
Yes
Lease Expiration Date
2026-07-30

Unit 2

Half Baths
2
Lease Expiration Date
2027-07-01
Leased?
Yes
Level
Main Level
Monthly Rent
700
Total Bathrooms
2
Total Rooms
Yes
Unit Number
2

Unit 3

Half Baths
2
Lease Expiration Date
2027-10-01
Leased?
Yes
Level
Main Level
Monthly Rent
700
Total Bathrooms
2
Unit Number
3

Unit 4

Lease Expiration Date
2030-01-01
Leased?
Yes
Monthly Rent
1640
Unit Number
4

Unit Details

Total Units
4
IDX
Listing Office: Real Estate by Jo, LLC
Last Updated: June - 26 - 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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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