LOCATION: Only 40 minutes from Grand
Rapids, MN and 50 minutes from Bemidji, MN on a popular chain of lakes.
This resort is located in great hunting and fishing country plus close
enough for guests to enjoy golfing, dining, shopping, movies and much
more. Located on approx. +/- 17.5 acres and +/- 900' of shoreline it is
a deeded land parcel away from roads and has a private wooded setting to
AMBIENCE: The resort has log and
earth tone buildings, large sand beach, and lots of large trees. The
cabins are spaced far apart for the guests to have privacy. Landscaped
and well maintained grounds with a lot of lawn and flowers.
BUILDINGS AND EQUIPMENT: Most of
the buildings are newer. 14 cabins with 12 winterized, an upscale 4
bedroom, 3 bath home overlooking the water, 30X60 Morton building/garage
2 large heated fish cleaning houses, lots of playground equipment, newer
boats and motors and lawn equipment, expansion room , great lodge with
everything from cold drinks, hot food, ice cream, gift shop, groceries,
bait and ice.. Open year round for fall hunting and winter business. All
equipment necessary to operate the business is being sold with the
business and all of it warranted to work at closing.
FINANCIAL: The business continues
to increase in cash flow and a strong return guest program exists. The
sale price is based on a .09 Capp Rate . The sale price is $3.25
million. This business is largely booked for the 2013 season and with
its history of income it should be easy to finance. The result of a
recent appraisal shows that the replacement value on this resort is over
$3.7 million, but its being sold on its ability to pay off the mortgage
and leave something for the owners to live on. The lenders usually
require 20% cash down payment and the bank interest rates are now lower
than years past.
Call Norm at 1-218-854-7500 or email him
Norm@minnesotaresortsales.com to talk about an evaluation on this
property. The evaluation agreement allows a buyer to take this property
off the sales market for 30 days to review all the exhibits that explain
all aspects of the business.