63.2 Acres Lot
63.2 Acres Lot
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID 6708553
Year Built 1972
Annual Tax Amount $2,660
Tax Year 2024
Contingent Sale of Another Property
Lot Size 63.200 Acres
Acres 63.2
Lot Dimensions 63.2
Property Description
Property Features:
31 seasonal RV sites, each individually metered for electricity. Over 1,500 feet of direct lake frontage with two rentable dock systems. Restaurant currently operating 3.5 days per week, offering significant expansion potential. Multi-tiered septic system supporting RV park operations; separate septic systems for residence, restaurant and LOT 1. 5,000+ FSF custom lakefront home featuring recent updates: newer roof, siding, windows, major interior renovations, and an expansive master suite. 60x100 heated shop and 24x40 insulated garage for operational and personal use. Fully booked seasonal occupancy with strong repeat clientele.
Investment Highlights: 2024 financials support a 4.34% cap rate at current list price. Immediate growth potential through expansion of RV sites and increased restaurant/bar operating hours. Turn-key operation with established profitability. Fully operational and open for the 2025 season.
This asset presents a rare blend of stable cash flow, strong asset appreciation potential, and multiple avenues for additional revenue growth. It is well-positioned for either a hands-on owner/operator or a passive investor with an experienced management team.
Financial documentation available upon execution of a Non-Disclosure Agreement.
Location
State MN
County Aitkin
Zoning Business/Commercial,Residential-Single Family
Rooms
Kitchen Cookware/Utensils, Prep Station, Shelving and Racks, Walk-In Cooler/Freezer, Dishwasher, Freezer, Fryer, Grill, Oven
Interior
Heating Boiler, Fireplace(s), Hot Water
Cooling Central Air
Inclusions Building, Business, Fixture/Equipment, Other
Fireplace No
Exterior
Parking Features Detached Garage, Electric, Guest Parking, Heated Garage, Multiple Garages, RV Access/Parking
Garage Spaces 10.0
Pool Above Ground
Utilities Available Electric Separate
Waterfront Description Lake Front
View Lake, Panoramic
Roof Type Age 8 Years or Less
Present Use Resort
Road Frontage N
Building
Lot Description Accessible Shoreline, Cleared, Tree Coverage - Medium
Story Two
Foundation 2600
Sewer Mound Septic, Septic System Compliant - Yes, Shared Septic, Tank with Drainage Field
Water Drilled, Well
Level or Stories Two
New Construction false
Schools
School District Aitkin
Others
Virtual Tour https://wellcomemat.com/embed/5ail14c3e7d01m53l?mls=1
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