Building Details

Year Built 2013

Listing Agency: Eos Realty, LLC

Listed By: Kristopher G. Jacobsen Show Phone

Source: Bradadamrealty

Added: Aug 8 Changed: Oct 7 Last Checked: Oct 7 at 5:24PM

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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.

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 / Yr

$160,747

Cap Rate

5.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,214,940 $3.2M

Cap Rate 7%

$2,296,386 $2.3M

Cap Rate 9%

$1,786,078 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,629 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $533,007 @ 7.0% cap · market cap 18.39%

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 Orr Nursing Home

Suggested Use

Top Pick Building Supply Storage Facility Bakery (Bike/Boat/Book/etc) Store Parking Lot & Garage Grocery & Convenience Store

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

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

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