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    Shoreline Residential Lake Lot Title is generated by Realmo AI

    16121 Par Circle SW, Pine City, MN 55063

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    Claim this Listing
    New
    For Sale
    $224,900

    Lots & Land - Pine City, MN

    Lot size:
    2.87 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 2:06 pm

    Property Features for 16121 Par Circle SW

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential-Single Family,Shoreline
    Standard status
    Active
    APN
    0265324000
    Lot size
    2.87 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    1242

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Nathan Campion
    Nathan Campion

    Listing agent Nathan Campion

    Listing office Century 21 Moline Realty Inc 202 Main St S, Cambridge, MN

    Listing date Jun 3, 2026

    MLS# 7082877 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Nearly 3 acres on a buildable lot with waterfront on private Rock Lake
    • Level lakeside property with private setting and lake views
    • 12' x 12' shed converted to bunkhouse with electric
    • 12' x 20' boathouse with electric, concrete floor, and lakeside winch access via fully open doors
    • Pontoon lift and dock included
    • Rock Lake fishing includes panfish species such as crappie, plus northern pike

    Overview

    This sale offers a nearly three-acre, level waterfront lot on Rock Lake, positioned for a private, residential shoreline build. The property includes multiple existing improvements designed to support lake living, including a 12’x12’ shed converted into an electric bunkhouse and a 12’x20’ boathouse with electric service, a concrete floor, and multifunctioning doors. With lakeside doors that fully open, the boathouse is set up for easy boat or pontoon access, and the property also includes a pontoon lift and dock.

    The lot is located just outside Pine City and is only a few blocks from the Pine City Golf Course. It sits on a private setting with picturesque lake views, providing a quiet environment for weekend use or long-term residential plans.

    For buyers looking to create a future lake home, this is a practical option thanks to the shoreline configuration and the presence of key onsite amenities already in place. It may also appeal to buyers seeking a family retreat setup, given the existing bunkhouse and boathouse conveniences that support boating and fishing on Rock Lake, which is noted for panfish species including crappie and northern pike. Showings are by appointment only.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pine City
    County
    Pine
    State
    Minnesota
    Longitude
    -92.980267
    Latitude
    45.796077

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    FAQs

    What type of property is this?
    Waterfront Land - Nearly three acres offer a buildable lakeside setting with utility-ready structures and private Rock Lake access.
    Where is this waterfront land located?
    The property is located at 16121 Par Circle SW Pine City, MN.
    What is the asking price?
    The asking price for this property is $224,900.
    What are key features of this property?
    This property features: Nearly 3 acres on a buildable lot with waterfront on private Rock Lake; Level lakeside property with private setting and lake views; 12' x 12' shed converted to bunkhouse with electric
    (612) 986-5301
    We can help!
    Listing Contact
    Nathan Campion
    Nathan Campion
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    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.

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