29-Unit Assisted Living
For Sale
$2,899,000
4576 Lake St, Orr, MN 55771
Maintained senior housing facility featuring a commercial-grade kitchen near Pelican Lake.
Property Size19,629 SF
Lot Size3.65 Acres
Price / SF$147.69
Days on Market23
Property Features for 4576 Lake St
General Information
Standard status
Active
Size
19,629 SF
Lot size
3.65 Acres
Amenities
Commercial grade kitchen
Building Details
Year Built
2013
Listing Agency:
Eos Realty, LLC
(651) 270-5429
Listed By:
Kristopher G. Jacobsen
Source:
Bradadamrealty
Added: Aug 8
Changed: Aug 29
Last Checked: Aug 25 at 4:09AM
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
Investment Insights
Based on property information with market context.
This 29-unit assisted living facility contains 19,629 SF on a 3.65-acre property. Constructed in 2013, the building has been maintained and includes a commercial-grade kitchen. The property was previously used for assisted living, providing a purpose-built setting for senior housing or related care operations.
The facility is located at 4576 Lake St in Orr, Minnesota, immediately near Pelican Lake. Its unit count, acreage, dedicated kitchen, and established assisted-living configuration create a substantial healthcare-oriented commercial asset.
The facility is located at 4576 Lake St in Orr, Minnesota, immediately near Pelican Lake. Its unit count, acreage, dedicated kitchen, and established assisted-living configuration create a substantial healthcare-oriented commercial asset.
Key Highlights
- 29‑unit assisted living facility
- 19,629 SF facility on 3.65 acres
- Built in 2013
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$160,747
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,214,940
$3.2M
Cap Rate 7%
$2,296,386
$2.3M
Cap Rate 9%
$1,786,078
$1.8M
Market Conditions
NOI Build-Up for 19,629 SF
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.
Gross rent
$310.9K $15.84/SF
− Vacancy
−$18.7K −$0.95/SF
EGI
$292.3K $14.89/SF
− OpEx
−$131.5K −$6.70/SF
NOI
$160.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,214,940
Cap Rate 7%
$2,296,386
Cap Rate 9%
$1,786,078
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.01M – $2.68M
NOI $160,747 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.61M
$6.66M – $8.88M
NOI $533,007 @ 7.0% cap · market cap 18.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Well-served
Demand for This Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Carefree Living Orr — 4576 Lake St, Orr, MN 55771
Frequently Asked Questions
What type of property is this?
Assisted living facility - Maintained senior housing facility featuring a commercial-grade kitchen near Pelican Lake.
Where is this assisted living facility located?
The property is located at 4576 Lake St Orr, MN.
What is the asking price?
The asking price for this property is $2,899,000.
What are key features of this property?
This property features: 29‑unit assisted living facility; 19,629 SF facility on 3.65 acres; Built in 2013
