$995,000
510 3rd Avenue W Alexandria, MN 56308 - Winona
For Sale MLS# 6746668
9,960 sq ftCommercial
Details for 510 3rd Avenue W
MLS# 6746668
Description for 510 3rd Avenue W, Alexandria, MN, 56308 - Winona
Commercial 30-Unit Apartment Building for Sale on Lake Winona, Alexandria, MNSeize this rare opportunity to own a 30-unit apartment building situated on the shores of Lake Winona in the heart of Alexandria, MN. This commercial property offers lakefront views and endless potential for real estate investors looking to build equity through strategic improvements or a bold redevelopment.Property Highlights:Unbeatable Location: Nestled in-town with direct access to Lake Winona, offering stunning water views and a serene setting that tenants will love.30 Units with Growth Potential: Increase occupancy and revenue through targeted upgrades or reimagine the property entirely with a new development to maximize its value.Investor’s Dream: Perfect for those ready to invest sweat equity into a property with immense upside. Whether you renovate the existing structure or start fresh, this lakefront gem is brimming with possibilities.Prime Redevelopment Opportunity: The expansive lot and prime location make this property ideal for a visionary redevelopment project, capitalizing on Alexandria’s growing demand for modern housing.Central Accessibility: Located in the heart of Alexandria, close to local amenities, shopping, dining, and recreational activities, making it highly desirable for tenants.Why Invest Here?This Lake Winona property is a rare find, combining a sought-after in-town location with the natural beauty of lakefront living. With the potential to boost occupancy, modernize units, or redevelop the site, this is an unparalleled opportunity to create significant equity in a thriving market. Alexandria’s vibrant community and growing economy make this an ideal investment for those looking to capitalize on a property with both immediate cash flow potential and long-term development prospects. Contact us today to schedule a viewing or request more details!
Listing Information
Property Type: Commercial, Apartments/Multi Family
Status: Active
Lot Size: 2.04 Acres
Square Feet: 9,960 sq ft
Year Built: 1948
Foundation: 9,960 sq ft
Garage: Yes
Stories: 1 Story
Subdivision: Aud Sub Pt Glots 3 & 4
Number Of Units Total: 30
Current Use: Commercial
County: Douglas
Days On Market: 7
Construction Status: Previously Owned
School Information
District: 206 - Alexandria
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: None Available
Cooling: Wall
Heating: Baseboard, Electric, Natural Gas
Exterior / Lot Features
Garage Spaces: 1
Open Parking: 30
Parking Description: Paved Lot
Exterior: Wood
Roof: Asphalt Shingles
Lot Dimensions: 410x206x176x490x29x48
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Land Inclusions - Building,Land,Leases, Road Frontage - City
Waterfront Details
Standard Water Body: Winona
DNR Lake ID: 21008100
Water Front Features: Lake Front
Water Frontage Length: 490 Ft.
Lake Acres: 213
Lake Depth: 9 Ft.
Community Features
Community Features: DogPark
Driving Directions
From the Alexandria Fire Department head West on 3rd Avenue and the property will be located on the south side of the road.
Financial Considerations
Tax/Property ID: 630716000
Tax Amount: 10538
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: ConnCrete Realty Solutions
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 510 3rd Avenue W
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 510 3rd Avenue W
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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