Building Details

Building Size 13,880 SF

Year Built 2010

Units 20

Listing Agency: Eos Realty, LLC

Listed By: Kristopher G. Jacobsen Show Phone

Source: Getyoumoved

Added: Oct 20 Changed: Oct 23 Last Checked: Oct 23 at 2:24PM

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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 Eos Realty, LLC

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Investment Insights

Based on property information with market context.

This 20-unit facility spans 13,880 square feet on 8.1 acres. Built in 2010, it was previously used for assisted living and includes a patio and porch.

The property is zoned Residential-Multi-Family and is located in Hoyt Lakes, Minnesota.

Key Highlights

• 20‑unit facility on 8.1 acres
• 13,880 square feet of building area
• Built in 2010

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$113,667

Cap Rate

5.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,273,340 $2.3M

Cap Rate 7%

$1,623,814 $1.6M

Cap Rate 9%

$1,262,967 $1.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,880 SF

Gross rent

$219.9K $15.84/SF

− Vacancy

−$13.2K −$0.95/SF

EGI

$206.7K $14.89/SF

− OpEx

−$93.0K −$6.70/SF

NOI

$113.7K $8.19/SF

Area

St. Louis County, MN

Vacancy

6.00%

Lease Rate

$15.84 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,273,340

Cap Rate 7%

$1,623,814

Cap Rate 9%

$1,262,967

Alternative Uses

Best Use

Apartment 5plus

$1.62M

$1.42M – $1.89M (±1% cap)

NOI $113,667 @ 7.0% cap · market cap 5.98%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$5.38M

$4.71M – $6.28M (±1% cap)

NOI $376,899 @ 7.0% cap · market cap 19.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Carefree Living Home Health Care Service

Suggested Use

Top Pick Dental Office Auto Repair Shop Hair Salon Restaurant Electrical Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 55750, MN

2,035

Population

957

Households

2.1

Avg Household Size

46

Median Age

18%

College-Educated

95%

High-School Grad

175.1 sq mi

ZIP Area

12

Density / Sq Mi

$64,653

Median Household Income

$33,942

Median Earnings

$90,800

Median Home Value

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Frequently Asked Questions

What type of property is this?

Assisted living facility - The property includes a patio and porch for outdoor use.

Where is this assisted living facility located?

The property is located at 421 Kennedy Memorial Drive Hoyt Lakes, MN.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 20‑unit facility on 8.1 acres; 13,880 square feet of building area; Built in 2010