Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bass Lake Waterfront Land Opportunity Title is generated by Realmo AI

    Bass Lake Rd, Gilbert, MN 55741

    View on Map
    Claim this Listing
    For Sale
    $224,900

    LAND - Gilbert, MN

    Lot size:
    1.48 Acres
    Added:
    Mar 18, 2026
    Days on Market:
    72
    Last Refresh:
    May 28 at 4:06 am

    Property Features for Bass Lake Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    1.48 Acres

    Utilities

    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Greg Running
    Greg Running

    Listing agent Greg Running License #40440557

    Listing office Re/Max Results 2520 Maple Grove Rd, Duluth, MN

    Listing date Mar 18, 2026

    MLS# 149627 Listing URL

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

    HighLights

    • 1.48 acre lakefront lot with 200 ft of private shoreline on Bass Lake.
    • Rare undeveloped lot, one of the last available on Bass Lake.
    • Minutes from Giants Ridge (golf, skiing, tubing, dining).
    • Heavily wooded lot offering a peaceful setting with mature trees and water views.
    • Convenient access to Iron Range OHV trails and the Mesabi Trail.
    • Electricity available at the street and accessible via a paved public road.

    Overview

    This 1.48-acre waterfront land offers an opportunity to bring a lakefront dream to life on one of the last undeveloped lots on Bass Lake. The property features approximately 200 ft of private shoreline. This heavily wooded lot provides a peaceful setting with mature trees and water views in a scenic area of Minnesota. It is suitable for a custom home, cabin, or weekend retreat. Located minutes from Giants Ridge, the property offers access to championship golf, downhill skiing, tubing, and dining. Nearby trails include the Iron Range OHV for ATV and off-road trails, and the Mesabi Trail for biking and exploring the Iron Range. The property is a short drive from Virginia, Eveleth, and Hibbing. Electricity is available at the street, and there is convenient access from a paved public road.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Gilbert
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.32061702
    Latitude
    47.44961809

    Nearby Similar for Sale

    • $224,900

      Bass Lake Waterfront Land Opportunity

      Rare 1.48 acre lot with 200 ft shoreline.
      0000 Bass Lake Rd, Gilbert, MN 55741
      View Details
    • $224,900

      Undeveloped Lakefront Lot on Bass Lake

      1.48-acre wooded lot with 200 ft of private shoreline.
      0000 Bass Lake Road, Gilbert, MN 55741
      View Details
    • $189,900

      Lakefront Land with Building Potential

      11.03 acre lakefront property with 950 feet of shoreline.
      6575 Heritage Trl E, Gilbert, MN 55741
      View Details
    • $240,000

      120 Acres with River Frontage

      120-acre property featuring approximately 2290 ft of river frontage.
      Hoel Rd, Gilbert, MN 55741
      View Details
    • $100,000

      Raw Land on Iron Range

      54+ acres of raw land near Gilbert, MN.
      Pebble Pl, Giblert, MN 55741-0000
      View Details
    • $79,500
      1,000 SF

      Gilbert Commercial Building with Potential

      Commercial building in Gilbert, MN, suitable for various business ventures.
      207 Broadway St. S, Gilbert, MN 55741
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Rare 1.48 acre lot with 200 ft shoreline.
    Where is this waterfront land located?
    The property is located at Bass Lake Rd Gilbert, MN.
    What is the asking price?
    The asking price for this property is $224,900.
    What are key features of this property?
    This property features: 1.48 acre lakefront lot with 200 ft of private shoreline on Bass Lake.; Rare undeveloped lot, one of the last available on Bass Lake.; Minutes from Giants Ridge (golf, skiing, tubing, dining).
    (218) 590-7072
    We can help!
    Listing Contact
    Greg Running
    Greg Running
    Real Estate License ID: 40440557
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Bass Lake Rd, Gilbert, MN 55741
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!