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Good Ol' Days Resort 26050 Oak Ln 22 Room Hotel Nisswa, MN 56468 $6,095,000 ($277,045/Room) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Popular year-round lakeside resort located in one of the top vacation destinations in Minnesota, the Brainerd Lakes Area, offered at a 10% cap rate
- Main lodge - 8 guest rooms, a store, meeting room, screened porch, breakfast counter, laundry facilities, 3 garages & 3-bedroom manager’s quarters
- Resort amenities feature sandy beaches, boat docks and pier, swimming area, playgrounds, sports courts, walking paths, complimentary watercraft, etc.
- Located on approximately 4.52 acres on Lower Cullen Lake with 14 modern guest cottages, main lodge and an additional rental unit in the house
- The 14 cottages include 2 and 3-bedroom options with full kitchens, vaulted great rooms, fireplaces, and patios facing the lake
- Additionally available, separate from the resort sale price, are four development lots for future expansion and revenue growth
EXECUTIVE SUMMARY
PROPERTY FACTS
| Price | $6,095,000 | Building Class | C |
| Price Per Room | $277,045 | Lot Size | 4.52 AC |
| Sale Type | Investment | Building Size | 23,345 SF |
| Cap Rate | 10% | No. Rooms | 22 |
| Sale Condition | Business Value Included | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1915/2010 |
| Property Subtype | Hotel | Parking Ratio | 1.86/1,000 SF |
| Price | $6,095,000 |
| Price Per Room | $277,045 |
| Sale Type | Investment |
| Cap Rate | 10% |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.52 AC |
| Building Size | 23,345 SF |
| No. Rooms | 22 |
| No. Stories | 1 |
| Year Built/Renovated | 1915/2010 |
| Parking Ratio | 1.86/1,000 SF |
AMENITIES
- On-Site Retail
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
- Multi-Room Suites
ABOUT 26050 OAK LN , NISSWA, MN 56468
The Property is located in Nisswa, Minnesota, on Lower Cullen Lake, in one of the most popular resort areas in the Midwest, the Brainerd Lakes resort area. Located in Central Minnesota, the Brainerd Lakes Area offers small-town charm that is nestled between some of the Midwest's best lakes. The Property is located roughly 18 miles from downtown Brainerd, 12 miles from downtown Pequot Lakes, 11 miles from Breezy Point, and it is less than a 2.5-hour drive from Minneapolis. Minnesota Highway 371 serves as a main route in the city. Other routes include County Roads 13, 18, 77, and 115. Nisswa is well known as a tourist destination due to its many unique stores, including Stonehouse Coffee, a coffee shop and cafe that roasts beans in the store, as well as Adirondack Coffee, the first gourmet coffee shop in central Minnesota, an ice cream parlor and candy shop, The Chocolate Ox, and Zaiser's shoe store. The Paul Bunyan State Trail runs through Nisswa. Lower Cullen Lake features excellent fishing, and guests of the resort are offered a plethora of recreational activities to partake in on the lake. It is one of the most secluded lakes in the Brainerd Lakes Area. Lower Cullen is the largest of the three lakes on the Cullen Lake Chain, with 560 acres of crystal clear water. There is channel access by fishing boat or canoe to Middle and Upper Cullen Lakes. The stream to the Gull Lake Chain begins on the grounds and can be explored by canoe and kayak. Lower Cullen has an excellent selection of game fish. It contains great fish-holding structures, including two sunken islands. We provide pontoon rental, motor rentals, a swim raft for sunning and fun, and a central dock system for fishing and convenient boat mooring. Nearby airports include the Brainerd Lakes Regional Airport that is 21 miles away, Duluth International Airport 120 miles away, Minneapolis-Saint Paul International Airport 151 miles away and Hector International Airport in Fargo 155 miles away.
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 14 | $250.00 | - |
| Guest Room | 8 | $120.00 | - |
PROPERTY TAXES
| Parcel Number | 281960010110009 | Improvements Assessment | $535,000 |
| Land Assessment | $200,200 | Total Assessment | $735,200 |
PROPERTY TAXES
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Good Ol' Days Resort | 26050 Oak Ln
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