Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    5292 Morning Star Loop Finland, MN 55603

    Sponsored
    For Sale
    $800,000

    Unmatched Views, 43 Homesites, 100 Acres

    Property size:
    1 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    348
    This exceptional 100-acre property in Finland, Minnesota, presents a rare investment opportunity. Situated on one of the state's highest points, it boasts breathtaking 360-degree panoramic views. The property is being sold as-is and includes 43 existing homesites and RV pads, ideal for a variety of recreational uses. Extensive groomed trails cater to snowmobiling, ATV riding, and hiking, enhancing the property's appeal. The land comprises five surveyed parcels, simplifying development or subdivision possibilities. A central septic system and a well provide essential infrastructure for the existing historical area. The sheer scale and diverse features of this property offer significant potential for development, investment, or personal enjoyment. Imagine the possibilities: expanding the existing homesites, creating a unique recreational destination, or simply basking in the unparalleled natural beauty. This is a truly remarkable opportunity to own a significant piece of Minnesota's landscape. The property's high elevation ensures stunning views in every direction, making it a truly exceptional location. The existing infrastructure, including the well and septic system, reduces the initial investment required for development. The five surveyed parcels offer flexibility for future planning and development. Don't miss this chance to acquire this one-of-a-kind property.

    Property Features for 5292 Morning Star Loop

    General Information

    Property type
    Other commercial real estate
    Square Feet
    1 SF
    Lot Size
    4,356,000 SF

    Building Details

    Year Built
    1960
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Finland
    County
    Lake
    State
    Minnesota
    Longitude
    -91.23476
    Latitude
    47.4521

    Nearby Comparable

    • $800,000
      100.00 Acres

      100-Acre Minnesota Investment Opportunity

      Unique 100-acre property with homes, RV pads, and recreational trails.
      5292 Morning Star Loop, Finland, MN 55603
      View Details
    • $795,000
      8,536 SF

      Cultivation Center Near Lake Superior

      Cultivation center on one acre near Duluth and Lake Superior.
      120 Mensing Dr, Silver Bay, MN 55614
      View Details
    • $375,000
      5,760 SF

      Silver Bay Commercial/Industrial Opportunity

      Commercial property in Silver Bay with retail, office, or service potential.
      83 Outer Dr, Silver Bay, MN 55614
      View Details
    • $2,500,000
      10.27 Acres

      Lakeside Resort Development Opportunity

      Turn-key lakeside resort development on Ninemile Lake in Finland, MN.
      6781 Vlg Dr, Finland, MN 55603
      View Details
    • $240,000
      2,112 SF

      Highway 1 Commercial Opportunity

      Established cafe with apartment, cabin, and storage building.
      9375 Highway 1, Isabella, MN 55607
      View Details
    • $395,000
      2,904 SF

      Remodeled Building on Main Street

      Prime location suitable for various business ventures.
      1010 Main St, Beaver Bay, MN
      View Details
    • $80,000
      10.00 Acres

      10 Acre Hobby Farm Retreat

      10 acres perfect for hunting, horses, or hobby farm.
      Tbd Hwy 3, Silver Bay, MN 55614
      View Details
    • $1,400,000
      5,528 SF

      North Shore Grocery and Liquor

      Thriving grocery and liquor store on the North Shore.
      7125 Highway 61 W, Tofte, MN 55615
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Unmatched Views, 43 Homesites, 100 Acres
    Where is this commercial real estate located?
    The property is located at 5292 Morning Star Loop Finland, MN.
    What is the asking price?
    The asking price for this property is $800,000.
    (320) 259-4554
    Request Owner's contact information
    5292 Morning Star Loop Finland, MN 55603
    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.
    5292 Morning Star Loop
    Finland, MN 55603
    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
    5292 Morning Star Loop Finland, MN 55603
    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
    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.