Asking Price: $2,389,000 USD
Location: 820 Oak Island, Oak Island, MN 56741
Contact Name: Gregg Hennum
Phone: 1-218-395-0414
Website: www.oakislandlodge.com
*The below information while deemed to be correct is not guaranteed. All measurements should not be relied upon without independent verification.
Overview
Turn-Key family-owned resort, operating 10 months a year, nestled in a protected bay on the popular Oak Island, Lake of the Woods. Spanning 30 acres with 1400 feet of pristine shoreline, this historic resort has been a beloved destination for over 75 years. This opportunity is ideal for a family seeking a lifestyle change and a lucrative business opportunity. The resort accommodates over 44+ guests. Guest lodging accommodations include 4 condos, 4 villas, staff, and owner housing. Additionally, there is a restaurant, a bar, a dock system, a post office, a fish cleaning house, a shop, fish houses, boats, bombardiers, and more. This resort is located in a renowned fishing and exploration area, guests can enjoy year-round activities including full service ice fishing , walking and snowmobiling trails amidst breathtaking views. The agent is an owner.
Cap Rate: 11.5%
NOI: $275,109
Property Highlights:
- 20 Years of Continued Growth
- Condos, Villas, Lodge with a commercial kitchen and popular Restaurant/Bar, and Gift and Tackle Items, 3 Large Floating Docks, U.S. Post Office, New Pavilion, Staff Housing, Storage Sheds, Workshop, Boats, Fish Houses, Bombardiers and more.
- Open 10 months of the Year
- Multi-Species Fishing Opportunities
- Hundreds of Area Points of Interest to Explore
- Guest Mailing List: 2,900
- Verified Emails: 53,000 of Repeat Guests & Warm Leads
- Facebook: 3,204 Followers and 2,814 Likes
- Great Website and google traffic
- 85% Repeat Customer Base
- Many positive reviews.
Photos of the Resort
Buildings & Site Improvements
- Single Story 2,032 sf Lodge
- Lodging Capacity 44+ people
- Lodge has a Full Service Restaurant and Bar, Commercial Kitchen & On and Off Sale Liquor License, Gift Shop, Pool Table, ATM, Jukebox
- 4-Lakeside Condos – 2-3 Bedroom, Bathroom, Kitchen
- 4- Bayside Villas – 2 Bedroom, Bathroom, Kitchen
- 570′ Feet Docks most Floating Docks with Electricity
- 740 sf Pavilion
- 576 sf Post Office with 144 sf deck
- 3 Storage sheds totaling 568 sf
- 576 sf Workshop
- 2 – Fish cleaning buildings
- Laundry room
- Manager and Staff Housing
Turn Key Property
Summer & Winter Fishing Operations
3,150′ X 172′ Private/Public Gravel-Based Grass Airplane Landing Strip on the Mainland 9 miles away
Additional Opportunities:
- Untapped Historical Tour Vacation Packages for example http://www.lotwtours.com
- Hunting Packages
- CIC Approved Land for Expansion of Lodging, Restaurant & Bar
- Sleeper Fish Houses
- Canadian Winter Fishing Packages
- Float Plane Service
Chattels Included in the Sale
Three Bombardiers
2020 24′ Custom Zagfab Boat
16′ Lund 25hp Yamaha
Bobcat T190
John Deer Lawn Mower
Daihatsu Mini Truck
Polaris 6×6
Chevrolet Tracker 2002
Toyota Tacoma 1997
Ice Fishing People hauler/ trailer
27 Fish Houses
Kitchen & Laundry Room Appliances & Equipment
LP Tank Filler 250 gallon & 500570′ Feet Dock Space
Yard Games & Kayaks
Land & Location
Location! Location! Location! Sportsman’s Oak Island Lodge is located in Minnesota but has a unique location and is situated right along the US/Canadian border. Oak Island is surrounded by water, and wildlife and is located in the beautiful Bobbies Bay. So close to the border we can see Canada from our dock. The resort is located in the best bay on 30.8 acres in the area for safe harbor and float planes to dock. The best commercial property location on the Minnesota side of the lake.
Location – Best of Both Worlds. While nestled into Bobby’s Bay in Minnesota we have the luxury to fish and explore both the Minnesota and Canadian side of the lake.
Nearby Towns & Cities
Baudette, MN 43 Miles South by Water
or 107 Miles by Water/Road
Warroad, MN 36 Miles Southwest by Water
or 72 Miles by Water/Road
International Falls, MN 176 Miles Southeast
Bemidji, MN 202 Miles South
Grand Forks, ND 189 Miles Southwest
Duluth, MN 319 Miles Southeast
Kenora, MB 40 Miles by Water
Winnipeg, MB 135 Miles Northwest
Top Freshwater Fishery in the Nation. Home to Many Fish Species including: Walleye Capital of the World, one of the top 3 lakes in MN for trophy Northern Pike, Sauger, Lake Sturgeon, Muskie, Yellow Perch, Crappie, Smallmouth Bass, Largemouth Bass, Burbot, and Tullibee.
- Minnesota DNR has reported that Lake of the Woods is a very healthy and stable fishery
- 85 miles long and 56 miles wide
- 65,000+ miles of shoreline including island shoreline, which is larger than Lake Superior
- 14,552 Islands
- Stretches between Ontario, Manitoba, and Minnesota
- At it’s deepest point reaches 310 ft.
- Under Canadian Law passed by the Canadian Senate and Canadian House of Commons, American boaters who do not anchor their boat or step foot on Canadian soil will not have to report to Canadian Customs
