Pine River Area Resort
SF 44
SOLD!
A resort like this does not come along very often. This is a true family style resort with the emphases on a quiet, open area, Northwood’s setting. Everything about this property is screaming the perfect resort from its location, to the cabins, to the owner’s home, and the 40+ acres and 1,500 feet of lakeshore it sits on. Combine all of this with the terms and positive cash flow, some lucky new owner will think they are really in paradise.
LOCATION: This business is located between Pine River and Longville, MN. It is on a spring fed lake that is secluded from the busy activity associated with this area, but yet has all the vacation amenities in the surrounding vicinity. It is located in the Pine River school district and has school bus service right to the front door.
CABINS: This turn key resort has 8 cabins that are in excellent condition. Most can be called vacation homes with plenty of room between these buildings for total privacy. There is 1 – one bedroom cabin, 4 – two bedroom cabins and 3 – three bedroom cabins. Beside these cabins they have the right to rent a neighbors cabin with an agreement for the proceeds going to the resort.
OWNERS HOME: The old saying that “if momma isn’t happy, then no one is happy” will NOT apply to this 3 bedroom 2 1/2 bath owner’s home. It is one of the nicest homes I have seen on a resort property. There is a small office attached to the entrance for checking people in and out at the end of their stay. A double detached garage is next to the house and a large deck is off the back for complete privacy overlooking part of the 42 acres of land with hundred year old pines, some hardwoods and a splattering of tamaracks.
EQUIPMENT: Everything that has been used to maintain this business will stay with the resort. Equipment such as; 8 boats, 4 motors, a pontoon, mowers, docks, an enclosed picnic shelter and a building that houses a hot tub and a sauna. It also has a 40 x 60 foot steel shed with cement floors and a heated shop area.
TERMS: After many years in the resorting business, the current owners are offering this one of a kind business for $1,175,000. The terms are very generous with a Contract for Deed being offered at 6% interest, amortized over 30 years, an ARM. after 5 years and a balloon payment after 10 years. All of this with a down payment from the buyer’s of $350,000. If the new buyer operates the business as in the past, the positive cash flow should be in the $20,000 range after all expenses are paid and still room to grow.
For full financials and detailed information, qualified buyers only can contact Steve Frank at (218) 732-1771. For additional pictures and resort information you can visit their web site at www.MnResort.com.
Owner’s Home
Owner’s Home
Cabin 4
Cabin 5
Cabin 6
