Historic Bed and Breakfast
For Sale
$845,000
30 Center St, Soudan, MN 55782
Historic inn originally built as a mining hospital, with private-bath rooms and main and lower-level kitchens for gatherings.
Property Size8,894 SF
Price / SF$95.01
Days on Market100
Property Features for 30 Center St
General Information
Standard status
Active
Size
8,894 SF
Additional Details
Business Included
Yes
Amenities
private baths
kitchens
gathering areas
lake access
Building Details
Year Built
1904
Listing Agency:
Janisch Realty, Inc
Listed By:
Lisa Janisch · License #40298563
(218) 780-6644
Source:
Searchhousesnow
Added: Jul 27
Changed: Oct 25
Last Checked: Oct 7 at 3:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Janisch Realty, Inc
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Investment Insights
Based on property information with market context.
Vermilion Park Inn is a historic bed and breakfast property originally built as the Soudan Mining Hospital in 1891. The inn features an open-concept layout designed to support shared spaces, with main and lower-level kitchens that serve spacious gathering areas. Many of the guest rooms include private baths, providing privacy for overnight stays.
The property offers easy access to Lake Vermilion. It is also located near the Boundary Waters Canoe Area Wilderness and Giants Ridge Championship Golf & Ski Resort, positioning it for visitors seeking an outdoor-focused getaway.
As presented, the inn’s main and lower levels are arranged to accommodate both everyday comfort and group moments, supported by the two kitchen areas and the open flow between gathering spaces.
The property offers easy access to Lake Vermilion. It is also located near the Boundary Waters Canoe Area Wilderness and Giants Ridge Championship Golf & Ski Resort, positioning it for visitors seeking an outdoor-focused getaway.
As presented, the inn’s main and lower levels are arranged to accommodate both everyday comfort and group moments, supported by the two kitchen areas and the open flow between gathering spaces.
Key Highlights
- Historic inn originally built as the Soudan Mining Hospital in 1891
- Open‑concept layout with main‑level and lower‑level kitchens for gatherings
- Private‑bath rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,608
Cap Rate
7.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,160
$1.2M
Cap Rate 7%
$880,114
$880.1K
Cap Rate 9%
$684,533
$684.5K
Market Conditions
NOI Build-Up for 8,894 SF
Gross rent
$166.5K $18.72/SF
− Vacancy
−$36.8K −$4.14/SF
EGI
$129.7K $14.58/SF
− OpEx
−$68.1K −$7.66/SF
NOI
$61.6K $6.93/SF
Area
St. Louis County, MN
Vacancy
22.10%
Lease Rate
$18.72 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,160
Cap Rate 7%
$880,114
Cap Rate 9%
$684,533
Alternative Uses
Best Use
Hotel Hospitality
$880.1K
$770.1K – $1.03M
NOI $61,608 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.45M
$3.02M – $4.03M
NOI $241,508 @ 7.0% cap · market cap 28.58%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
33
Businesses Nearby
Explore this area
Business Placement
Demographics for 55782, MN
389
Population
262
Households
1.5
Avg Household Size
56
Median Age
18%
College-Educated
96%
High-School Grad
10.8 sq mi
ZIP Area
36
Density / Sq Mi
$55,658
Median Household Income
$35,625
Median Earnings
$99,400
Median Home Value
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Similar Off Market Nearby
- Vermilion Park Inn — 30 Center St, Soudan, MN 55782
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Historic inn originally built as a mining hospital, with private-bath rooms and main and lower-level kitchens for gatherings.
Where is this bed & breakfast located?
The property is located at 30 Center St Soudan, MN.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: Historic inn originally built as the Soudan Mining Hospital in 1891; Open‑concept layout with main‑level and lower‑level kitchens for gatherings; Private‑bath rooms
