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    Property profile & analytics

    10 Highway 53 S Cook, MN 55723

    • Commercial real estate
    • 5,328 SF
    For Sale
    View listing
    $448,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US46-0526556
    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

    • Commercial real estate

    Property Details for 10 Highway 53 S

    Year built
    1979
    Property size
    5,328 SF
    Property type
    Commercial real estate
    APN
    120-0010-01720
    APU
    120001001720

    Description

    This exceptional 8,640 square foot commercial property, situated on a 0.65-acre corner lot in Cook, Minnesota, presents a remarkable investment opportunity. Located on Highway 53, this high-visibility site enjoys excellent traffic flow and boasts city water and sewer connections. The building, previously used as a dealership, offers substantial space adaptable to a variety of commercial uses. Its strategic location across the highway from McDonald's and Lucky Seven ensures high visibility and convenient access for customers. The property's proximity to the popular Lake Vermilion area further enhances its appeal and potential for attracting a diverse clientele. The expansive 8,640 square foot building provides ample room for operations, storage, or expansion. The 0.65-acre lot allows for ample parking and potential for future development. This property is ideal for entrepreneurs seeking a well-established location with significant growth potential in a thriving community. A 3D tour is available for a comprehensive virtual viewing. Detailed information and specifications are available upon request. Don't miss this chance to acquire a prime commercial property in a desirable location. Contact us today to schedule a showing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $395,000
      Market price range: $253k - $1.01M
      AI Estimate
      $340,000
      Market price range: $299k - $711k

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

    Location Insight

    • Map
    • Local Demand
    City
    Cook
    County
    St. Louis
    State
    Minnesota
    Longitude
    -92.6884
    Latitude
    47.8504
    CBSA code
    20260
    CBSA name
    DULUTH, MN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,728
    $37,400
    $86,600
    $124,000
    -
    $37,400
    $86,600
    $124,000

    Comparable in this City

    • Value Estimation by Request

      Cook, MN 55723

      COMMERCIAL (GENERAL)
      Cook, MN 55723
      View Details
    • Value Estimation
      $265,000
      420 SF

      Cook, MN 55723

      COMMERCIAL (GENERAL) • 420 SF
      Cook, MN 55723
      View Details
    • Value Estimation
      $290,000
      1,320 SF

      6 Riv St

      COMMERCIAL (GENERAL) • 1,320 SF
      6 Riv St, Cook, MN 55723-8131
      View Details
    • Value Estimation
      $85,000
      1,440 SF

      19 Riv St

      COMMERCIAL (GENERAL) • 1,440 SF
      19 Riv St, Cook, MN 55723
      View Details
    • Value Estimation
      $280,000
      2,210 SF

      9 Vermilion Dr

      COMMERCIAL (GENERAL) • 2,210 SF
      9 Vermilion Dr, Cook, MN 55723-9504
      View Details
    • Value Estimation
      $55,000
      4,000 SF

      114 Riv St

      COMMERCIAL (GENERAL) • 4,000 SF
      114 Riv St, Cook, MN 55723-8133
      View Details

    Similar Nearby for Sale

    • $498,500
      8,640 SF

      Prime Cook, MN Commercial Property

      High-traffic location, huge potential!
      10 Highway 53, Cook, MN 55723
      View Details
    • $50,000
      1 SF

      Downtown Cook Corner Lot

      Prime location, build your business!
      5 River St, Cook, MN 55723
      View Details
    • Contact for pricing
      6.00 Acres

      6-Acre Residential Land Near Lake

      6-acre residential parcel near Lake Vermilion, perfect for building.
      Tbd Hwy 1, Cook, MN 55723
      View Details
    • $89,900
      2.50 Acres

      Vacant Land Near Lake Vermilion

      2.5 acre vacant land near recreation, ready to build.
      Tbd-Parcel A Vermilion Dr, Cook, MN 55723
      View Details
    • $72,000
      4.68 Acres

      Wooded Land Near Lake Vermilion

      4.6 acre wooded parcel near Lake Vermilion and Cook.
      Parcel B Vermilion Lk Rd, Cook, MN 55723
      View Details
    • $89,900
      2.50 Acres

      2.5 Acre Vacant Land

      Vacant land near Lake Vermilion, perfect for outdoor recreation.
      Tbd Parcel A Vermilion Dr, Cook, MN 55723
      View Details
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    10 Highway 53 S
    Cook, MN 55723
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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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