Property Listing No Longer Available for Sale

143 South Gunflint Lake Rd

Grand Marais, MN

Resort for Sale - $6,800,000 - 100,000 Sq. Ft. on 103 acres


Property Info

CIMLS#773081
Location
  143 South Gunflint Lake Rd
  Grand Marais MN 55604
UpdatedApril 8th, 2016
TypeResort
Price$6,800,000
Building100,000 Sq. Ft.
Land103 acres

Property Description

Gunflint Lodge is a year-round resort offering a full spectrum of activities on a gorgeous 103 Acres" Canoeing, Fishing, Horseback Riding, Hiking, Guided Naturalist Programs, Guided Fishing Trips, A Towering Pines Canopy Tour, Message Therapy, Cross Country Skiing, Dog Sledding and Snowshoeing. All of these activities are available year-round at Gunflint Lodge, in addition to many others.

Location Description:

Gunflint Lodge, located on the Gunflint Trail, boasts of the beautiful beach front area, docks and hiking trails for the outdoor enthusiasts. No need for a pool when the Canadian bordered lake provides a one mile wide by eight mile long outlet for numerous activities. At Gunflint Lodge, they have a unique getaway experience that simultaneously awards guests with an unforgettable north woods adventure and a style of relaxation at its finest. This first-class establishment has had its doors open since 1927 and prides itself in luxurious cabins, delicious cookery and service with excellence.

Highlights:

>> Popular Full Service Resort

>> 103 Total Acres

>> Cap Rate: 11%

>> Located On Gunflint Lake

>> Premier Wilderness Vacation Area Located on Gunflint trail in Boundary Waters Canoe Area

>> 25 Luxury Rental Cabins/Lake homes, 9 Canoe Cabins, Bunk House 80 Guests, Campgrounds & Teepe Villages 12 Guest. (Additional Expansion/Development Opportunities)

>> Amenities: Zipline Tour, horseback riding, nature center, conference center, spa

>> Staff housing: 2 homes, 13 apartments, 10 dorm units - 87 Person Capacity

>> Management staff: 10+ years at the resort

>> Outfitter / Resort Since 1930

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Financials

Sales Info:

>> Cap rate: 11.0%

>> Commision split: 2.5%

>> NOI: $741085