Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Parcel B Norwegian Bay N Cook, MN 55723

    Sponsored
    For Sale
    $219,000

    Lots & Land - Cook, MN

    Lot size:
    11.40 Acres
    Days on Market:
    74
    Last Refresh:
    Jan 30 at 9:06 am

    Property Features for Parcel B Norwegian Bay N

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential-Single Family
    APN
    250002001893
    Lot size
    11.40 Acres

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Janisch

    Janisch Realty (218) 780-6644

    Listing agent Lisa Janisch (218) 780-6644

    Listing date Nov 18, 2025

    MLS# 6476318 Listing URL

    Copyright © 2026 Regional Multiple Listing Service of Minnesota [NorthStarMLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lake Vermilion Land Parcel

    This 11.4-acre land parcel features 405 feet of shoreline, situated on Lake Vermilion's Norwegian Bay. The property includes a year-round deep pond at its northern border and adjoins hundreds of acres of state land. The land slopes gently from a sheltered dock area to a building site that faces south. The location offers sun exposure throughout the day, which may be suitable for solar power. Approved septic sites and a survey are available. The property is located on the mainland but is water access. The land includes rock outcroppings and a canopy of pine trees. The property is located in Cook, Minnesota, in St. Louis County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Cook
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.57585495
    Latitude
    47.94674078

    Nearby Similar for Sale

    • $448,500
      0.65 Acres

      Highway 53 Commercial Location

      Commercial property on Hwy 53 with city utilities in Cook, MN.
      10 Highway 53 S, Cook, MN 55723
      View Details
    • $448,500
      8,640 SF

      Highway 53 Commercial Location

      Commercial/Industrial property on Highway 53 with city utilities.
      10 Highway 53 S, Cook, MN 55723
      View Details
    • $498,500
      8,640 SF

      Prime Cook, MN Commercial Property

      High-traffic location, huge potential!
      10 Highway 53, Cook, MN 55723
      View Details
    • $50,000
      1 SF

      Downtown Cook Corner Lot

      Prime location, build your business!
      5 River St, Cook, MN 55723
      View Details

    FAQs

    What type of property is this?
    Land - 11.4 acres with 405' shoreline on Norwegian Bay.
    Where is this land located?
    The property is located at Parcel B Norwegian Bay N Cook, MN.
    What is the asking price?
    The asking price for this property is $219,000.
    What are key features of this property?
    This property features: - 11.4 acres with 405' of excellent swimming shoreline on Lake Vermilion's Norwegian Bay.; - South-facing building site with all-day sun and blue water vistas, suitable for solar power.; - Adjoins hundreds of acres of state land and includes a year-round deep pond.
    (218) 780-6644
    Request Owner's contact information
    Parcel B Norwegian Bay N Cook, MN 55723
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Parcel B Norwegian Bay N
    Cook, MN 55723
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Parcel B Norwegian Bay N Cook, MN 55723
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lisa Janisch
    Real Estate License ID: 40298563
    (218) 780-6644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.