Cyrus Resort
Turn Key resort property on world reknown Lake of the Woods. Business operates year round, with summer fishing charters and winter day houses. Ultra modern, NEW facilities with top of the line infrastructure, facilities, equipment and buildings.
Property includes 14 rental cabins, seasonal home and seasonal RV camping, heated Pool, laundry facility, steel storage buildings, fish cleaning and owners home. May 2009 appraisal available to qualified buyers. This would be a great operation for a larger or possibly 2 familes.
Lake fo the Woods is a year round destination and the area is experiencing a growth in tourism.
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Property Details
Listing Price: $ 2,750,000
Address: 3298 Cyrus Rd. NW
City: Baudette
State: Minnesota
Zip Code: 56623
County: Lake of the Woods
Status: For Sale
MLS #: non-MLS listing
Lot Size / Acres: 40 ac.
Lake Frontage: 2000+
Lodge Sq Ft: 1600 +/-
Lake Name: Lake of the Woods
Financial Details
GOI: $700,000 +
NOI: Contact Agent
ROI: 12.5 %*
CAP Rate: 10.1 %*
Taxes: $14,584
Insurance: $25,096
Terms: Cash w/ possible seller subordinate financing
Lodge & Home Information
Owners Home: Yes
Beds: 3
Baths: 2
Sq Ft: 1640
Food Service: Yes
Liquor: Yes
Beer: Yes
Wine: Yes
Cabins & Campsites
Total Cabins: 14
Bed 1: none
Bed 2: 8
Bed 3: 5
Bed 4+: 2
Renuion: 3
Total Campsites: none
Seasonals: 36
RV Non Seasonal: none
Primative: none
Dock & Water Systems
Dock System: Stationary - post/plank (53+ spaces) + EZ Dock floating pier.
Septic System: Extensive Mound/Tank & DF system - Code
Well System: 3 Deep Drilled w/ Submersible Pump
Additional Information
*The returns data for this property assumes 30% down payment (70% financed) at full sales price under the current conditions. Calculating financial returns will vary based on sales price, amount financed and current lending practices. Buyers will be expected to do their own due dilligence regarding their specific situation. Current conditions can be viewed here.
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