42206 438th Lane, Aitkin, MN 56431 (MLS# 6708553)

Overview

Description

Turn-Key Lakefront RV Resort & Commercial Investment. Exceptional opportunity to acquire a highly profitable, fully operational RV resort located on over 1,500 feet of premier lake shoreline. This meticulously maintained property features 31 fully occupied season RV sites, a custom 4,100+ square foot lakefront residence, an onsite restaurant, and extensive supporting infrastructure, all positioned for immediate operation and future growth. Property Features: 31 seasonal RV sites, each individually metered for electricity. Over 1,500 feet of direct lake frontage with two rentable dock systems. Restaurant currently operating 3.5 days per week, offering significant expansion potential. Multi-tiered septic system supporting RV park operations; separate septic systems for residence, restaurant and LOT 1. 4,100+ FSF custom lakefront home featuring recent updates: newer roof, siding, windows, major interior renovations, and an expansive master suite. 60x100 heated shop and 24x40 insulated garage for operational and personal use. Fully booked seasonal occupancy with strong repeat clientele. Investment Highlights: 2024 financials support a 4.34% cap rate at current list price. Immediate growth potential through expansion of RV sites and increased restaurant/bar operating hours. Turn-key operation with established profitability. Fully operational and open for the 2025 season. This asset presents a rare blend of stable cash flow, strong asset appreciation potential, and multiple avenues for additional revenue growth. It is well-positioned for either a hands-on owner/operator or a passive investor with an experienced management team. Financial documentation available upon execution of a Non-Disclosure Agreement.

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 50
Owner Occupied: Yes
Road Btwn WF & Home?: No
Waterfront Frontage: 1400
Waterfront Present: Yes
Year Built: 1972
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Single Family
Foundation Size: 2600
Garage Stalls: 10
Lake/Waterfront Name: Blind
For Sale or Lease: For Sale
Acres: 63.2
Lot Dimensions: 63.2
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Central Air Amenities Shared: Dock Assumable Loan: Not Assumable CMU Style: Resort Commercial Kitchen Appliances: Cookware/Utensils; Dishwasher; Freezer; Fryer; Grill; Oven; Prep Station; Shelving and Racks; Walk-In Cooler/Freezer Construction Status: Previously Owned Current Use: Resort Elevation Highpoint to Waterfront Slope: Gradual Existing Financing: Conventional Exterior: Other Foundation: See Remarks Fuel: Electric; Pellet; Propane Heating: Boiler; Hot Water Internet Options: Fiber Optic Lock Box Type: None Lot Description: Accessible Shoreline; Cleared; Tree Coverage - Medium Miscellaneous Information: Kitchen Facilities; Out Buildings On Site Utilities: Electric Separate Overhead Door Clearance: 10-14 Feet Parking Characteristics: Multiple Garages; Heated Garage; RV Access/Parking Pool Description: Above Ground Road Frontage: County Road Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less Sewer: Mound Septic; Septic System Compliant - Yes; Shared System; Tank with Drainage Field Stories: Two Topography: Gently Rolling; Level Water: Drilled; Well Waterfront View: Lake; Panoramic

Contract Information

Contingency: None
ListPrice: 1450000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 42206
Street Name: 438th
Street Suffix: Lane
Postal City: Aitkin
County: Aitkin
State: MN
Zip Code: 56431

Assessments

Tax With Assessments: 2660
Assessment Balance: 0

Basement

Foundation Dimensions: 50x52

More Information

Building Information

Building Finished SqFt: 4160
Ceiling Height: 8-10

Lake Details

Lake Acres: 323
Lake Depth: 17

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: Yes
Kitchen Facilities: Yes
Out Buildings: Yes

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Dimensions: 24x40 - 60x100
Garage Square Feet: 960
Multiple Garages: Yes
Heated Garage: Yes
RV Access/Parking: Yes

Public Survey Info

Range#: 27
Section#: 10
Township#: 48

Sale Options

Sale Includes: Building, Business, Fixture/Equipment, Other

Unit Details

Total Units: Yes

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 1
Listing City: Aitkin
Map Page: 999
Municipality: Aitkin
School District: Aitkin
School District Phone: 218-927-2115
DNR Lake ID#: 01018800
DNR Lake Classification: Natural Environment
Zip Plus 4: 5707
Property ID Number: 510008900
Tax Year: 2024
Tax Amount: 2660
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Turn-Key Lakefront RV Resort & Commercial Investment. Exceptional opportunity to acquire a highly profitable, fully operational RV resort located on over 1,500 feet of premier lake shoreline. This meticulously maintained property features 31 fully occupied season RV sites, a custom 4,100+ square foot lakefront residence, an onsite restaurant, and extensive supporting infrastructure, all positioned for immediate operation and future growth. Property Features: 31 seasonal RV sites, each individually metered for electricity. Over 1,500 feet of direct lake frontage with two rentable dock systems. Restaurant currently operating 3.5 days per week, offering significant expansion potential. Multi-tiered septic system supporting RV park operations; separate septic systems for residence, restaurant and LOT 1. 4,100+ FSF custom lakefront home featuring recent updates: newer roof, siding, windows, major interior renovations, and an expansive master suite. 60x100 heated shop and 24x40 insulated garage for operational and personal use. Fully booked seasonal occupancy with strong repeat clientele. Investment Highlights: 2024 financials support a 4.34% cap rate at current list price. Immediate growth potential through expansion of RV sites and increased restaurant/bar operating hours. Turn-key operation with established profitability. Fully operational and open for the 2025 season. This asset presents a rare blend of stable cash flow, strong asset appreciation potential, and multiple avenues for additional revenue growth. It is well-positioned for either a hands-on owner/operator or a passive investor with an experienced management team. Financial documentation available upon execution of a Non-Disclosure Agreement.
Directions: From Aitkin stop light go north on County Rd 1 to a left on County Rd 22 to straight on County Rd 24 to a right on 430th Place follow road and stay right to the property on the end of 438th Lane.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Amenities Shared

Dock: Yes

Assumable Loan

Not Assumable: Yes

Construction Status

Previously Owned: Yes

Elevation Highpoint to Waterfront Slope

Gradual: Yes

Existing Financing

Conventional: Yes

Exterior

Other: Yes

Foundation

See Remarks: Yes

Fuel

Electric: Yes
Pellet: Yes
Propane: Yes

Heating

Boiler: Yes
Hot Water: Yes

Internet Options

Fiber Optic: Yes

Lake/Waterfront

Lake Front: Yes

Lock Box Type

None: Yes

Lot Description

Accessible Shoreline: Yes
Cleared: Yes
Tree Coverage - Medium: Yes

Pool Description

Above Ground: Yes

Road Frontage

County Road: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age 8 Years or Less: Yes

Sewer

Mound Septic: Yes
Septic System Compliant - Yes: Yes
Shared System: Yes
Tank with Drainage Field: Yes

Stories

Two: Yes

Topography

Gently Rolling: Yes
Level: Yes

Water

Drilled: Yes
Well: Yes

Waterfront View

Lake: Yes
Panoramic: Yes

On Site Utilities

Electric Separate: Yes

CMU Style

Resort: Yes

Commercial Kitchen Appliances

Cookware/Utensils: Yes
Dishwasher: Yes
Freezer: Yes
Fryer: Yes
Grill: Yes
Oven: Yes
Prep Station: Yes
Shelving and Racks: Yes
Walk-In Cooler/Freezer: Yes

Current Use

Resort: Yes

Overhead Door Clearance

10-14 Feet: Yes