Highway 53 Retail/Office
For Sale
$229,000
4303 Highway 53, Orr, MN 55771
2016 sq ft retail/office space with highway frontage.
Property Size2,016 SF
Price / SF$113.59
Days on Market827
Property Features for 4303 Highway 53
General Information
Standard status
Active
Size
2,016 SF
Property subtype
General Commercial
Building Details
Year Built
1982
Listing Agency:
RE/MAX Lake Country
(218) 757-3233
Listed By:
Raymond Ingebretsen · License #40744576
(218) 780-3007
Source:
Xome
Added: Apr 25, 2024
Changed: Jul 10
Last Checked: Jul 30 at 7:00AM
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 RE/MAX Lake Country
Investment Insights
Based on property information with market context.
This property features 2016 square feet of office and retail space. It is located on a high visibility location on Highway 53, just south of Orr and the southern entry into Voyageurs National Park. The property is zoned Multi Use Residential/Commercial and is currently operated as a gift shop and office. The building is handicap accessible and has 665 feet of frontage on Highway 53. The location is positioned to capture traffic heading to and from Orr, Crane, Kabetogama, Ash River, Rainy, and Canada.
Key Highlights
- High visibility location on Hwy 53 near Voyageurs National Park.
- 2016 sq ft of office and retail space.**
- Zoned Multi Use Residential/Commercial.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $15.00 |
| − Vacancy | −$3.0k | −$1.50 |
| EGI | $27.2k | $13.50 |
| − OpEx | −$8.2k | −$4.05 |
| NOI | $19.1k | $9.45 |
2,016 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 8.32%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$782.0K
$684.3K – $912.4K
NOI $54,743 @ 7.0% cap · market cap 23.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 55771, MN
1,485
Population
1,904
Households
0.8
Avg Household Size
53
Median Age
21%
College-Educated
92%
High-School Grad
1,115.4 sq mi
ZIP Area
1
Density / Sq Mi
$65,893
Median Household Income
$27,163
Median Earnings
$850
Median Rent
$167,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - 2016 sq ft retail/office space with highway frontage.
Where is this retail space located?
The property is located at 4303 Highway 53 Orr, MN.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: High visibility location on Hwy 53 near Voyageurs National Park.; 2016 sq ft of office and retail space.**; Zoned Multi Use Residential/Commercial.
