Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Minnesota Lakefront Resort with Cabins Title is generated by Realmo AI

    20035 Grouse Rd, Park Rapids, MN

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Lakefront resort featuring cabins and campsites on a pristine lake.

    Type:HOSPITALITY
    Property size:
    5,000 SF
    Lot size:
    11.18 Acres
    Price / SF:
    $239/SF
    Added:
    Jun 26, 2025
    Days on Market:
    330
    Last Refresh:
    Apr 5 at 8:50 pm

    Property Features for 20035 Grouse Rd

    General Information

    Standard status
    Active
    Size
    5,000 SF
    Lot size
    11.18 Acres
    Property subtype
    HOSPITALITY

    We can help!

    Listing Contact
    Ben Copperthite
    Ben Copperthite

    Listing agent Ben Copperthite

    Listing office Rice Real Estate Services, LLC

    Listing date Jun 26, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Rice Real Estate Services, LLC

    HighLights

    • Prime lakefront location on Lake Ida, offering direct access for boating, swimming, and relaxation.
    • Turn‑key resort with 8 well‑maintained cabins, each featuring full kitchens and cozy living areas.
    • Four brand new seasonal campsites with new well, septic, pump house, metered electric and 6’ deep water lines.
    • Onsite amenities including a fish cleaning house, fire pits, grills, boat rentals, docks, swimming platform, kayaks, canoes, and recreational areas.
    • Opportunity for year‑round enjoyment of lake life.
    • Additional 9.19 acres available with a renovated 3‑bedroom lakefront home, new well and septic, and potential for 12 additional campsites (subject to approval).

    Overview

    Walters Resort, situated on the shores of a pristine Minnesota lake along the Mantrap Chain, combines natural beauty with modern comfort and Northwoods charm. This property offers private shoreline access suitable for boating and swimming. The resort features eight well-maintained cabins with full kitchens, living areas, and outdoor spaces. Additionally, there are four seasonal campsites equipped with a new well, septic system, pump house with 6-foot deep water lines, and separately metered electric hook-ups including 20, 30, and 50 amp service. Onsite amenities include a fish cleaning house, fire pits, grills, boat rentals, docks, a swimming platform, kayaks, canoes, and recreational areas. The resort provides opportunities for summer lake activities, viewing fall colors, winter ice fishing, and spring wildlife watching. An additional 9.19 acres with a renovated 3-bedroom lakefront home with a new well and septic system is available, along with proposed plans for 12 additional seasonal campsites pending Hubbard County approval. The property size is approximately 5000 square feet.
    Location Intelligence

    Current Use by Public Records

    Resorts

    Suggested Use

    Restaurant Hotel & Motel Bed & Breakfast Restaurant

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Park Rapids
    County
    Hubbard
    State
    Minnesota
    Longitude
    -94.9515
    Latitude
    46.98

    Nearby Similar for Sale

    • $469,000

      Park Rapids Commercial Opportunity

      Prime location with high visibility on Highway 34.
      109 1st Street E, Park Rapids, MN 56470
      View Details
    • $329,000

      Established Pet Boarding Facility

      Premier pet boarding facility in Park Rapids lakes area.
      20151 Eddie Baxter Drive, Park Rapids, MN 56470
      View Details
    • $499,000

      Spacious Pole Barn on 5 Acres

      60'x120' pole barn on 5 acres near Park Rapids.
      31282 US 71, Park Rapids, MN 56470
      View Details
    • $350,000
      6,382 SF

      Live/Work Property with River View

      Mixed-use property with commercial space and apartment, river views.
      500 1st St E, Park Rapids, MN
      View Details
    • $465,000
      5,565 SF

      Park Rapids Commercial Property For Sale

      Commercial property in Park Rapids, MN, with high visibility.
      201 1st St E, Park Rapids, MN 56470
      View Details

    FAQs

    What type of property is this?
    Resort - Lakefront resort featuring cabins and campsites on a pristine lake.
    Where is this resort located?
    The property is located at 20035 Grouse Rd Park Rapids, MN.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: Prime lakefront location on Lake Ida, offering direct access for boating, swimming, and relaxation.; Turn‑key resort with 8 well‑maintained cabins, each featuring full kitchens and cozy living areas.; Four brand new seasonal campsites with new well, septic, pump house, metered electric and 6’ deep water lines.
    (612) 242-4869 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ben Copperthite
    Ben Copperthite
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    20035 Grouse Rd, Park Rapids, MN
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!