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    Vermilion Dr Cook, MN 55723
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    Property profile & analytics

    Vermilion Dr Cook, MN 55723

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    • Land
    • 2,400 SF
    • 85.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Vermilion Dr

    Year built
    1960
    Lot size
    85.00 lot acres
    Property size
    2,400 SF
    Property type
    Land
    Property subtype
    Hospitality properties

    Description

    This exceptional 88-acre resort on Lake Vermilion offers five furnished cabins sleeping 26 guests, plus nine additional buildings including a main lodge and private retreat. Boasting approximately 13,000 feet of pristine shoreline, the property includes a sauna, nature trails, and a two-mile driveway ideal for biking or jogging. With significant development potential, this property is situated in an Opportunity Zone and presents a rare opportunity for expansion. Located just four hours from the Twin Cities and two hours from Duluth, Minnesota, this property sits on one of the Midwest's most popular recreational lakes, renowned for its world-class fishing and breathtaking scenery. The 2,400 square foot main area, built in 1960, is complemented by the expansive acreage, offering a unique blend of established amenities and vast undeveloped land. The property's location on Black Bay provides exceptional privacy and access to the lake's many recreational opportunities. This versatile property is suitable for continued operation as a resort, or for conversion into a private estate, family compound, hunting and fishing lodge, or corporate retreat. The property's zoning allows for a variety of commercial uses, making it a truly unique investment opportunity in a highly desirable location. The property's address is on Vermilion Dr, Cook, MN 55723.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cook
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.6577
    Latitude
    47.9101

    Comparable in this City

    • Value Estimation by Request

      Cook, MN 55723

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      Cook, MN 55723
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      642 SF

      Cook, MN 55723

      HOTEL-RESORT • 642 SF
      Cook, MN 55723
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      704 SF

      Cook, MN 55723

      HOTEL-RESORT • 704 SF
      Cook, MN 55723
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    • Value Estimation by Request
      706 SF

      8147 Bayview Rd

      HOTEL-RESORT • 706 SF
      8147 Bayview Rd, Cook, MN 55723-8700
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    • Value Estimation by Request
      768 SF

      3720 Susan Lk Rd

      HOTEL-RESORT • 768 SF
      3720 Susan Lk Rd, Cook, MN 55723
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    • Value Estimation by Request
      612 SF

      3036 Vermilion Dr

      HOTEL-RESORT • 612 SF
      3036 Vermilion Dr, Cook, MN 55723-8836
      View Details

    Similar Nearby for Sale

    • New
      $59,900
      2.50 Acres

      2.5 Acre Vacant Land Parcel

      Vacant 2.5 acre land parcel near recreation and amenities.
      Tbd Parcel A Vermilion Dr, Cook, MN 55723
      View Details
    • New
      $51,900
      2.30 Acres

      Land Near Lake Vermilion

      2.3 acre lot near Lake Vermilion, perfect for recreation.
      Tbd Parcel V Frazer Bay Road, Cook, MN 55723
      View Details
    • $264,500
      4.00 Acres

      Cook, MN Waterfront Land

      Four acre waterfront lot with 375 feet of lakeshore.
      Tbd Wilderness Way, Cook, MN 55723
      View Details
    • New
      $56,900
      2.50 Acres

      Land Near Lake Vermilion

      Recreational land near Lake Vermilion with power and septic potential.
      Tbd Parcel U Frazer Bay Rd, Cook, MN 55723
      View Details
    • New
      $67,900
      2.20 Acres

      Land Near Lake Vermilion

      2.2 acre lot near Lake Vermilion, perfect for storage.
      W Frazer Bay Rd, Cook, MN 55723
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    • $69,500
      0.35 Acres

      Lake Vermilion Waterfront Land Parcel

      Boat-access lot on Lake Vermilion with building variance.
      Tbd Muskego Pt, Cook, MN 55723
      View Details
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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.

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