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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Hotels
Bovey, MN 55709
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US46-2517818
Property profile
Verified
Property type
Hotels
Use group
HOTEL-RESORT
Lot
4.57 ac (199,069 SF)
APN
40-016-4100
UPID
US46-2517818
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$890k
Owner & transaction history
Trout Lake Campground LLC · 1 yrs held
Trout Lake Campground LLC
since 2025
Last sale
$950,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bovey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bovey 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
$820,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$890k
Range $801k – $979k · ±10% · vs last sale $950k (May 2 2025)
Last sale anchor
$950k
May 2 2025
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
—
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 2024Property tax & assessments
Tax year 2024
Tax billed
$1,966
Tax year 2024
Assessed value
$279,400
Assessed 2022
Previous assessed
$269,400
+3.7% YoY
Effective rate
0.70%
On assessed value
Assessed land
$253,000
Assessed improvement
$26,400
Land market value
$253,000
Improvement market value
$26,400
Total market value
$279,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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-RESORT
Status
Off-Market
Lot
4.57 ac (199,069 SF)
APN
40-016-4100
UPID
US46-2517818
Jurisdiction
ITASCA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
4.57 ac
Current owner
From public records · entity-resolved
Trout Lake Campground LLC
Entity
Mailing address
PO BOX 444, BOVEY, MN 55709-0444
Ownership since
2025
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
May 2, 2025
$950,000
Trout Lake Campground LLC
Trout Lake Land Co LLC
Warranty Deed
$770,000 · Woodland Bank
May 2, 2025
—
Trout Lake Campground LLC
—
Deed
related
$165,000 · Trout Lk Land Co LLC
Dec 18, 2024
—
Thomas J Greniger
Norma Ramsey
Deed
—
Oct 18, 2018
$525,000
Thomas J Greniger
Trout Lake Land Co LLC
Deed
—
Apr 25, 2017
—
State Of Minnesota In Trust For Tax
Trout Lake Land Company LLC
Warranty Deed
—
May 27, 2015
—
Norma Ramsey
Greenway Lions Club
Warranty Deed
—
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.
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