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    9976-9990 Gappa Rd Ray, MN 56669
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    9976-9990 Gappa Rd Ray, MN 56669

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    • Specialty properties
    • 20,000 SF
    • 21.21 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 9976-9990 Gappa Rd

    Lot size
    21.21 lot acres
    Property size
    20,000 SF
    Property type
    Specialty properties
    Property subtype
    Marinas

    Description

    This exceptional Minnesota resort, situated on Lake Kabetogama with direct access to Voyageurs National Park, presents a lucrative investment opportunity. The property encompasses 21.21 acres and includes 21 buildings, offering 21 units, 34 RV sites, and 30 docks. The resort boasts 20,000 square feet of space, currently operating May through November. Financials are available upon execution of a Non-Disclosure Agreement (NDA) and proof of funds. The asking price is $3,000,000, representing $150 per square foot and $142,857.14 per unit. The property features a 10.21% cap rate based on 2023 net income. The resort is an owner-operator business with significant potential for expansion due to over 9 acres of undeveloped land. This allows for the addition of RV spaces, cabins, boat storage, and other amenities. The property's Class A designation reflects its high quality and potential for continued success. The resort also includes a fleet of 11 boats. This turnkey operation offers immediate income and substantial upside potential for a discerning investor. The property's APN numbers are 402001001711, 402001001717, 402001001712, 402001001715, and 402001001730. Located at 9976-9990 Gappa Road, Kabetogama, MN 56669.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ray
    County
    St. Louis
    State
    Minnesota
    Longitude
    -93.0362
    Latitude
    48.4462

    Comparable in this City

    • Value Estimation by Request
      3,264 SF

      9676 Gamma Rd

      COMMERCIAL (GENERAL) • 3,264 SF
      9676 Gamma Rd, Kabetogama, MN 56669-8000
      View Details
    • Value Estimation by Request

      2178 Hwy 217

      COMMERCIAL (GENERAL)
      2178 Hwy 217, Ray, MN 56669-9061
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    • Value Estimation by Request
      1,800 SF

      9903 Gamma Rd

      COMMERCIAL (GENERAL) • 1,800 SF
      9903 Gamma Rd, Kabetogama, MN 56669-8008
      View Details
    • Value Estimation by Request
      2,800 SF

      9634 Gamma Rd

      COMMERCIAL (GENERAL) • 2,800 SF
      9634 Gamma Rd, Kabetogama, MN 56669-8000
      View Details
    • Value Estimation by Request
      1,832 SF

      9602 Gamma Rd

      COMMERCIAL (GENERAL) • 1,832 SF
      9602 Gamma Rd, Kabetogama, MN 56669-8000
      View Details
    • Value Estimation by Request
      200 SF

      Kabetogama, MN 56669

      HOTEL-RESORT • 200 SF
      Kabetogama, MN 56669
      View Details

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      Voyageurs National Park Resort Opportunity

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    Ray, MN 56669
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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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    9976-9990 Gappa Rd, Ray, MN, 56669
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