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    Luxury Lakefront Estate, Finland MN Title is generated by Realmo AI

    6781 Village Drive, Finland, MN 55603

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    Claim this Listing
    For Sale
    $2,600,000

    Commercial - Finland, MN

    Lot size:
    10.27 Acres
    Added:
    May 15, 2026
    Days on Market:
    8
    Last Refresh:
    May 22 at 1:06 am

    Property Features for 6781 Village Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Lot,Other,Residential-Single Family,Shoreline
    Bedrooms
    9
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Assigned, Driveway, Garage, Guest, Heated, Other
    Exterior features
    Brick/Stone, Cement Board, Engineered Wood
    Fireplace
    1
    Appliances
    Dishwasher, Dryer, Freezer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    24571105010
    Lot size
    10.27 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7527

    Utilities

    Heating system
    Ductless (Heating), Fireplace(s), Zoned (Heating)
    Cooling system
    Ductless, Zoned
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    2020
    Flooring type
    Carpet, Concrete, Other, Tile, Vinyl
    Building materials
    Concrete, Frame
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Megan Steinmetz
    Megan Steinmetz

    Listing agent Megan Steinmetz

    Listing office Keller Williams Classic Realty 1740 116th Avenue NW, Coon Rapids, MN

    Listing date May 15, 2026

    MLS# 7074887 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    This property presents a rare opportunity to acquire a luxury short-term rental and legacy lakefront estate in Northern Minnesota, near the North Shore and Lutsen. The property is positioned in a desirable recreation market and has demonstrated success with tourism. The existing rental cabins are substantially booked for the remainder of 2026, showcasing the strength of the area’s tourism market and the increasing demand for luxury lodging. Designed for both privacy and gathering, the property is suited for multi-family retreats, co-ownership, executive rentals, corporate retreats, or continued luxury vacation rental operations. The three existing structures each feature a unique layout, architectural character, and design aesthetic, creating a luxury hospitality feel while maximizing flexibility for personal enjoyment and income generation. The owner’s current private residence offers potential as a third luxury rental accommodation. Future expansion opportunities include adjoining build-ready parcels already approved for commercial use. Conceptual plans allow for possibilities such as a restaurant/bar concept, boutique hotel suites, expanded lodging accommodations, or additional mixed-use development opportunities. The property benefits from grandfathered short-term rental positioning. Surrounded by the Superior National Forest, the setting offers wildlife viewing, outdoor recreation, and lake views. Nearby restaurants, trails, snowmobile access, hiking, boating, and proximity to the North Shore lifestyle drive year-round tourism demand. Constructed with luxury-grade materials, high-end craftsmanship, and timeless architectural design, the improvements appeal to a broad luxury buyer profile while maintaining warmth, functionality, and durability. Major infrastructure components including septic systems, wells, and utility groundwork are in place, reducing future development costs and timelines. The additional lots are build-ready, creating immediate future upside. The property is located in Finland, MN, in Lake County, and has a lot size of 10.27 acres. It is zoned for Business/Commercial, Lot, Residential-Single Family, and Shoreline uses. It can be envisioned as a luxury investment property, private family compound, hospitality venture, boutique resort concept, or multi-generational legacy estate.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Resorts

    Map

    City
    Finland
    County
    Lake
    State
    Minnesota
    Longitude
    -91.1739
    Latitude
    47.7823

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    FAQs

    What type of property is this?
    Resort - Luxury short-term rental and legacy lakefront estate near North Shore.
    Where is this resort located?
    The property is located at 6781 Village Drive Finland, MN.
    What is the asking price?
    The asking price for this property is $2,600,000.
    (763) 746-4900
    We can help!
    Listing Contact
    Megan Steinmetz
    Megan Steinmetz
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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