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High Volume Northern Minnesota Resort For Sale

Minnesota
Asking Price:
$10,256,000 Furniture / Fixtures included
Sales Revenue:
$4,000,000
Cash Flow:
$1,049,390

Open year round and located at Minnesota’s top walleye lake!
This is a great investment opportunity and a great place to raise a family.
Price: $10,256,000
Gross Sales: $4,000,000
Cash Flow: $1,049,390
Cap Rate: 10%
Land Area: 12 Acres (750’ Water Frontage)

Property information

Real Estate:

Real Property Included

Living Accommodation:

30 Lodge Rooms, 10 Cabins, 8 Villas and 6 Campsites (180+ people)

Location:

Northern Minnesota on a top walleye lake.

Premises Details:

Established Year Round Operation in Business for over 45 years.
Experienced management team in place.
23,040 Square Foot Lodge
Accommodates 180+ people
3 Restaurants/Bar (175 seat, 175 seat & 300 seat)
Indoor Pool & Hot Tub
32 Boat Slips
Gift Shop
Shop & Storage Building
46 Fish Houses, 10 Charter Boats & 12 Track Vehicles
Surveyed & Platted
CIC Approved & Ready
New Central Sewer Installation planned for 2017
Planning for 2017! Seasonal Campground Addition with 35 sites

The Bur Oak Villas are the flag ship of the property, these seven buildings consist of 12 units right on the water, all newly built between 2011 to 2014. They carry a
classification of a common interest community 3 in the county making it resort conversion ready with an option to sell individual units. The two five bedroom units each boast $88,000 of annual revenue, while the three bedrooms still collect $75,000 annually. These units have a proven rental history, the master plan calls for seven more buildings to be built, right on the water replacing the remaining 10 cabins. 2.8 acres of the 12 acre property is undeveloped and available for further expansion as soon as the central sewer is finished.

Business Operation

Expansion Potential:

Numerous expansion opportunities including area to build more lodging and offer more services. Inquire for details

Employees:
75
Years established:
1971

Other Information

Support & training:

Experienced management staff in place. Present owner willing to stay for up to one year for training and support.

Financing available:

$1.5 million assumable 4.8% fixed SBA loan
Approved Tax Increment Financing, $163k yet to be refunded

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