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    Property profile & analytics

    4483 Highway 53 Orr, MN 55771

    • Hotels
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0514360
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 4483 Highway 53

    Year built
    1994
    Property type
    Hotels

    Description

    This meticulously maintained 12-unit motel in Orr, Minnesota, presents a unique investment opportunity. Situated on a 54,450 square foot lot directly off Highway 53, this property enjoys a prime location on Pelican Lake, a popular destination known for its excellent fishing and proximity to a bear sanctuary. Built in 1994, the motel offers a turnkey operation, ready for immediate income generation. Included in the sale are a garage/storage building, a fish cleaning house, and two docks, enhancing the property's appeal to guests. The current owners have recently updated the website and booking system, streamlining operations and maximizing online visibility. The property's location offers convenient access for travelers heading north, while the lakefront setting attracts vacationers seeking recreational activities. This is an exceptional opportunity to acquire a well-established, profitable motel business in a desirable tourist location. The asking price is $430,000. This property is ready for its next owner to continue its success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Orr
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.832846
    Latitude
    48.0498212

    Comparable in this City

    • $254,900
      1,272 SF

      Lakeside Cabin in Minnesota Northwoods

      Cozy, fully furnished lakeside cabin, turn-key Airbnb with solid cashflow.
      4553 Highway 53, Orr, MN 55771
      View Details
    • $158,000
      0.15 Acres

      Waterfront Lot with Tiny Home

      Turnkey waterfront lot with tiny home near Voyageurs National Park.
      9442 Bear Ridge Dr, Orr, MN 55771
      View Details
    • $499,000
      11.85 Acres

      Undeveloped Land with Lake Shoreline

      11.85 acres with nearly a half mile of natural shoreline.
      Xxx 11.82 Bessette Rd, Orr, MN 55771
      View Details
    • $270,000
      4.50 Acres

      Lake Vermilion Building Lot

      4.5 acre lot with 300 ft shoreline on Lake Vermilion.
      7 Wakemup Narrows, Orr, MN 55771
      View Details
    • $135,000
      Pending

      Pelican Lake Shoreline Land

      17-acre parcel with 333 ft shoreline on Pelican Lake.
      Parcel 2 Hwy 23, Orr, MN 55771
      View Details
    • $598,500
      6.20 Acres

      Lake Vermilion Waterfront Building Site

      6.2 acre waterfront building site on Lake Vermilion.
      S Niles Bay Forest Rd, Orr, MN 55771
      View Details

    Similar Nearby for Sale

    • $254,900
      1,272 SF

      Lakeside Cabin in Minnesota Northwoods

      Cozy, fully furnished lakeside cabin, turn-key Airbnb with solid cashflow.
      4553 Highway 53, Orr, MN 55771
      View Details
    • $158,000
      0.15 Acres

      Waterfront Lot with Tiny Home

      Turnkey waterfront lot with tiny home near Voyageurs National Park.
      9442 Bear Ridge Dr, Orr, MN 55771
      View Details
    • $499,000
      11.85 Acres

      Undeveloped Land with Lake Shoreline

      11.85 acres with nearly a half mile of natural shoreline.
      Xxx 11.82 Bessette Rd, Orr, MN 55771
      View Details
    • $270,000
      4.50 Acres

      Lake Vermilion Building Lot

      4.5 acre lot with 300 ft shoreline on Lake Vermilion.
      7 Wakemup Narrows, Orr, MN 55771
      View Details
    • $135,000
      Pending

      Pelican Lake Shoreline Land

      17-acre parcel with 333 ft shoreline on Pelican Lake.
      Parcel 2 Hwy 23, Orr, MN 55771
      View Details
    • $598,500
      6.20 Acres

      Lake Vermilion Waterfront Building Site

      6.2 acre waterfront building site on Lake Vermilion.
      S Niles Bay Forest Rd, Orr, MN 55771
      View Details
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    4483 Highway 53
    Orr, MN 55771
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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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