Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Hotels
1515 Lakeshore Dr Lake City, MN 55041-9022
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US46-1317736
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1959
Total area
4,460 SF
APN
54.100.0560
UPID
US46-1317736
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lake City Tourist Bureau Travel Agency
-
1 Queen Bed Hotel & Motel Bed & Breakfast
-
Single King Room Bed & Breakfast Restaurant
-
Sunset Motel & Resort Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$730k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$457k
Blend (final)
Blend
$750k
Owner & transaction history
Next Door Hospitality LLC · 4 yrs held
Next Door Hospitality LLC
since 2022
Last sale
$775,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$920,000
+180.5%
Retail stores
$610,000
+85.4%
Medical building
$510,000
+55.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lake City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$730,000
ML approach
$730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$920,000
Change: +181% · Conversion: Difficult
RETAIL STORES
$610,000
Change: +85% · Conversion: Difficult
MEDICAL BUILDING
$510,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$495,000
Change: +50% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $775k (Apr 4 2022)
Last sale anchor
$775k
Apr 4 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$168 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,546
Tax year 2023
Assessed value
$410,600
Assessed 2023
Previous assessed
$410,600
+0.0% YoY
Effective rate
2.08%
On assessed value
Assessed land
$154,200
Assessed improvement
$256,400
Land market value
$154,200
Improvement market value
$256,400
Total market value
$410,600
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1959
Heating
NONE
Buildings
6
Stories
2
Total area
4,460 SF
APN
54.100.0560
UPID
US46-1317736
Jurisdiction
GOODHUE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$920,000
RETAIL STORES
Est. value
$610,000
MEDICAL BUILDING
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$495,000
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1959
Heating
NONE
Stories
2
Buildings
6
Current owner
From public records · entity-resolved
Next Door Hospitality LLC
Entity
Mailing address
9723 50TH AVE NW, ORONOCO, MN 55960-2217
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2022
$775,000
Next Door Hospitality LLC
Bolland Properties LLC
Warranty Deed
$581,250 · Pine Island Bank
Aug 23, 2019
$501,000
Bolland Properties LLC
Gregory Marn
Warranty Deed
—
May 14, 2009
$600,000
Milestone Management LLC
Gregory Marn
Contract Sale
—
Nov 22, 2005
$515,000
Philip Roland
Charles B Emery
Contract Sale
—
Nov 22, 2005
$545,000
Gregory Marn
Philip Roland
Contract Sale
—
Nov 22, 2005
$495,000
Charles B Emery
Glander Family Living Trust
Contract Sale
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1515 Lakeshore Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
