Location:
This small resort is located on a dead end road at the end of a
seven-mile long crystal clear lake. There are several very nice resorts
on the lake to help draw guests to the area. The nearest town for
shopping is about 14 miles away. The lake is in the Grand Rapids MN.
Area.Ambience:
This level lakeshore resort is covered with large Norway Pine that
provides the quiet north woods feeling for you and your guests. The
lakeshore is sandy with a nice sandy beach. There is a black top drive
around the grounds and a nice black top boat landing for your guest’s
boats. The buildings are either log sided with a natural color or they
are deep red.
Buildings and Equipment:
The cabins have had substantial upgrades in recent years with new
appliances, bathroom and kitchens. Most of the cabins have treated
lumber decks and little maintenance is required on the cabins. There is
a newer stick built 3 bedrooms home overlooking the lake. There is room
for a few additional cabins on the resort property. Currently there are
six cabins of different sizes. The thing that I find exciting about this
resort is that additional land is available for more cabins or a nice RV
park
Financials:
The resort has rental rates well below the competition, leaving room for
growth in cabin rates immediately. The resort has a net income of around
$45,000.00 and a gross income of over $60,000.00. There should be
adequate income to make payments on the loans. The sale price is
$650,000.00. The cabins are booking up for the 2010 season. This a great
starter resort with the; right location, substantial buildings, newer
home, sand beach, level grounds, expansion room and steady income.
Sellers are older and want to retire this spring.
Call
Norm at 1-218-854-7500 for more information. |
