9422 Hearthside Drive

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Address: 9422 Hearthside Dr, Tower, MN 55790, USA

Chicago & Midwest + Hospitality

Created date: February 7, 2024

Date last updated: August 13, 2024

Year-round resort located on one of Minnesota's most popular lakes, Lake Vermilion
12% cap rate based on pro forma financials
30 acres of land total with ±21.4 acres available for future development included in the sale price
10 unique cabins, an owner's/manager's residence, and RV sites; sleeping accommodations range from 6 to 15 individuals per cabin
Amenities include boat rentals, hunting, fishing, clean fish house, safe sand beach, on-site boat launch with ample parking, free docking for boats, power stations on docks for charging, covered boathouse slips available, gas, wifi, access to snowmobile trails in the winter, etc.

Property Description

SVN | Northco is pleased to present Pike Bay Lodge for sale, located on one of Minnesota's most popular lakes, Lake Vermilion. This unique destination resort is open year-round, has 30 gorgeous acres with 500+ feet of shoreline, and offers a wide variety of lodging accommodations for guests to choose from. The main house was built in 1920 as a summer estate for industrialist A.B. Coates and his family, followed by the log caretaker’s cottage, butler's bungalow, chauffeur’s quarters and vintage boathouse. The resort offers multiple amenities and activities for guests to enjoy including hunting, fishing, clean fish house, safe sand beach, on-site boat launch with ample parking, free docking for boats, power stations on docks for charging, gas, wifi, covered boathouse slips, access to snowmobile trails in the winter and much more. There are also about ±21.4 acres of development land included in the sale for additional units, tiny homes, glamping, RV sites, amenities, etc.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Hospitality
Price:	$2,495,000
No. of Units:	11
Lot Size:	30.00 Sq ft
Opportunity Zone:	No
Price per unit:	$226,818
Property Website	Click Here