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$425,000 Just Listed

  • For Sale
  • Active
  • Commercial
  • 2,387 Sq. Ft.
  • 0.185 Acres
  • Updated 1 day ago
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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.

Full Property Details for 316 N Nokomis St

General

  • Price: $425,000
  • Taxes: $6,672 (2026)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7072947
  • Updated: 5/18/2026
  • Added to Site: 1 day(s) ago

Interior

  • Appliances: Electric Water Heater
  • Flooring: Carpet, Luxury Vinyl Tile

Rooms

Bathrooms

  • Total Bathrooms: 6

Additional Information

  • Amenities: In-Ground Sprinkler

Parking

  • Parking Features: Asphalt, Guest Parking, Parking Lot, Paved Lot

Location

  • County: Douglas
  • Township: Alexandria
  • Subdivision: Lakeside Add
  • Driving Directions: From Downtown. Go East on Third Ave E. Turn Left on N Nokomis St. The property will be on your right.

School Information

  • School District: 206 - Alexandria
  • High School District: Alexandria

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate

Structural Information

  • Exterior Const.: Concrete, Frame
  • Foundation Size: 2387
  • Roof: Age Over 8 Years, Flat
  • Ceiling Height: 8-10
  • Disability Access: Doors 36"+, Grab Bars In Bathroom, No Stairs External, No Stairs Internal, Partially Wheelchair
  • Square Feet: 2,387
  • Finished Down/Base.: 2,387 Sq. Ft.
  • Current Bldg. Use: Professional/Office, Beauty/Barber Shop, Commercial, Office, Professional Service
  • Year Built: 1956

Lot Features

  • Lot Size (Acres): 0.185
  • Lot Dimensions: 60 x 135 x 60 x 135
  • Frontage: City Street
  • Potential Use: Office, Other, Professional Service, Income
  • Zoning: Business/Commercial
  • Lot Description: Light Tree Coverage

Financial Considerations

  • Tax Amount: $6,672
  • Tax Year: 2026
  • Terms: Conventional, Cash
  • Owner Pays: Exterior Maintenance, Grounds Care, Insurance, Janitorial Service, Repairs, Pest Control, Snow Removal, Taxes, Trash Collection, Water
  • Tenant Pays: All Utilities, Gas, Heat, Hot Water, Janitorial Service, Maintenance, Security
  • Pays Gas: Tenant Pays
  • Pays Heat: Tenant Pays
  • Pays Trash: Owner Pays
  • Pays Water: Tenant Pays

Disclosures and Reports

  • Legal Description: SEC-17 TWP-128 RANG-37 LAKESIDE ADDN LOT 10 BLOCK 10 EXC E 8 FT
  • Inclusions: Building, Leases
  • Property ID: 630503000

Listed by Real Estate by Jo, LLC

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Listing agents

— 316 N Nokomis St —

  • Real Estate by Jo, LLC

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NMLS#: 1598647

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NMLS#: 1598647

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Find the right home insurance for your new home!

with our affiliated in-house agency

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Save up to an additional 20% by bundling your home and auto together!

Schools serving 316 N Nokomis St

School District:Alexandria Public School District
NameGradesDistance
Voyager Elementary School
203 Voyager Drive, Alexandria, MN 56308
K-61.2 mi
Discovery Junior High School
510 North Mc Kay Avenue Northeast, Alexandria, MN 56308
7-90.5 mi
Alexandria Area High School
4300 Pioneer Road Southeast, Alexandria, MN 56308
10-123.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 316 N Nokomis St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
5/18/2026
Listed
$425,000
21.43%
MLS
7/31/2023
Sold
$350,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 316 N Nokomis St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$4,088
3%
$338,000
58%
2023
$3,974
-7%
$213,300
5%
2022
$4,254
-1%
$203,000
5%
2021
$4,308
-2%
$193,300
—
2018
$4,402
5%
$193,300
1%
2019
$4,190
2%
$190,900
4%
2018
$4,096
-13%
$183,600
1%
2017
$4,714
100%
$180,900
3%
2016
—
$175,764
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 316 N Nokomis St

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*These costs are estimates, and the interest rates assume exceptional credit standing.

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NMLS#: 1598647

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Listed by Real Estate by Jo, LLC

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316 N Nokomis Street, Alexandria, MN 56308 (MLS# 7072947) is a Commercial property. 316 N Nokomis Street is currently listed for $425,000 and was received on May 18, 2026. Want to learn more about 316 N Nokomis Street? Do you have questions about finding other Commercial real estate for sale in Alexandria? You can browse all Alexandria real estate or contact a Coldwell Banker agent to request more information.

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