1213 Broadway StAlexandria, MN 56308

Property Details for 1213 Broadway St

Year built

1920

Property size (Sq ft)

9,926 SF

Property type

Retail properties

Property subtype

Retail space

APN

63-1615-000

APU

631615000

Description

This exceptional 9,927 square foot commercial property is located on a prominent corner of Broadway Street in downtown Alexandria, Minnesota, offering unparalleled visibility and accessibility. Situated on a 0.62-acre lot, the building boasts ample parking, including a fenced-in area, ensuring convenient access for customers and employees. The property's current configuration is highly versatile, featuring four distinct areas. One section is currently leased to an established business, while another is designed as a banquet room, ideal for events and gatherings. A third area serves as a catering/kitchen prep space, and a fourth provides heated shop/warehouse space. Recent extensive renovations have modernized the building, including the installation of new HVAC systems, parking lot improvements, updated lighting, flooring, walls, electrical systems, plumbing, and a new fire suppression system. This prime location is perfect for a variety of uses, including retail, office, healthcare, restaurant, or mixed-use development, presenting a unique opportunity for expansion or investment. The high volume of foot and vehicular traffic ensures maximum exposure, making this a truly exceptional commercial opportunity in the heart of Alexandria. Lease options are available. Don't miss this chance to own a piece of Alexandria's thriving downtown.

• CAP approach

  CAP return

  Valuation

  6%

  $2,682,672

  6.5%

  $2,476,312

  7%

  $2,299,432

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,276,690

  Geo Method

  $1,276,690

• Alternative Use

  Use

  Valuation

  Residential

  $2,088,862

  Hospitality

  $1,913,386

  Educational

  $1,591,915

  Medical

  $1,646,663

  Retail

  $2,476,312

Location Insight

City

Alexandria

County

Douglas

State

Minnesota

Latitude

45.8786

Longitude

-95.3772

CBSA code

10820

CBSA name

ALEXANDRIA, MN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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