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    820 Oak Rd Oak Island, MN 56741

    Sponsored
    For Sale
    $2,389,000

    Turn-key resort, 30 acres, Lake of the Woods.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional opportunity to acquire a well-established, family-owned resort on Minnesota's scenic Lake of the Woods. Priced at $2,389,000, this turn-key operation boasts 30 acres of land and 1400 feet of pristine shoreline on popular Oak Island. Established for over 75 years, this historic resort accommodates over 44 guests and operates 10 months annually. The property includes four condos, four villas, and extensive staff and owner housing. Amenities are extensive and include a restaurant, bar, dock system, post office, fish cleaning house, shop, fish houses, boats, and Bombardier vehicles. This prime location in a renowned fishing and exploration area offers year-round recreational opportunities and breathtaking views. The resort's infrastructure is well-maintained and ready for immediate operation, presenting a lucrative business opportunity and a unique lifestyle change for the right buyer. Built in 1968, this property is situated at 820 Oak, Oak Island, MN 56741. The lot size is not specified. Further details are available upon request.

    Property Features for 820 Oak Rd

    General Information

    Property type
    Hotels

    Building Details

    Year Built
    1968

    HighLights

    • $2,389,000 asking price.
    • Turn‑key resort on 30 acres with 1400 feet of shoreline on Oak Island, Lake of the Woods, Minnesota.
    • Established resort operating 10 months annually, accommodating 44+ guests.
    • Features include condos, villas, staff & owner housing, restaurant, bar, dock system, and more.
    • Located in a prime fishing and recreation area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Spa & Massage Hair Salon Nail Salon Storage Facility Travel Agency

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

    Location Insight

    • Map
    • Local Demand
    City
    Oak Island
    County
    Lake of the Woods
    State
    Minnesota
    Longitude
    -94.8482783
    Latitude
    49.3095251

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    FAQs

    What type of property is this?
    Hotel - Turn-key resort, 30 acres, Lake of the Woods.
    Where is this hotel located?
    The property is located at 820 Oak Rd Oak Island, MN.
    What is the asking price?
    The asking price for this property is $2,389,000.
    What are key features of this property?
    This property features: $2,389,000 asking price.; Turn-key resort on 30 acres with 1400 feet of shoreline on Oak Island, Lake of the Woods, Minnesota.; Established resort operating 10 months annually, accommodating 44+ guests.
    Request Owner's contact information
    820 Oak Rd Oak Island, MN 56741
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    Oak Island, MN 56741
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    Realmo Value Estimation

    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.

    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.

    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
    820 Oak Rd Oak Island, MN 56741
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