JUST LISTED | 11.02% Cap Rate | Premier Resort and Houseboat Rental Business Near the Boundary Waters
8347 Timber Bay Road
Babbitt, MN 55706
Highlights
- Premier resort and houseboat rental business that is nestled deep within the heart of the Superior National Forest
- 11.02% Cap Rate based on 3-year average EBITDA plus owner's residence pro forma profit
- Structures include 14 cabins, 13 houseboats, a boathouse, an owner's residence (included in the sale price), and an office/gift shop building
- Situated on 1,482 feet of waterfront on Birch Lake with a full-service marina along with a safe, sandy swim beach
- The resort offers a variety of activities, including children's programs as well as boating, camping, fishing, canoeing, swimming, pickleball, and much more
Description
SVN | Northco is pleased to present, as exclusive advisor to ownership, the sale of Timber Bay Lodge & Houseboats ("Property") located on Birch Lake near Ely, Minnesota, and the Boundary Waters Wilderness Canoe Area (BWCA). Nestled deep within the heart of the Superior National Forest, the Property is one of the premier houseboat rental-oriented resorts in the Midwest. Surrounded by towering Norway pine, birch, and spruce trees, this modern Minnesota resort promises to fulfill the vacation dreams of families and fishing groups alike. The property boasts a full-service marina, a safe and sandy swimming beach, and a variety of resort activities, including children's programs ensuring a perfect family getaway year-round. Guests can enjoy boating, camping, fishing, canoeing, swimming, pickleball, or simply relaxing amidst the natural beauty. With 1,482 feet of waterfront on Birch Lake, the Property offers 14 cabins, a boathouse, an owner's residence, and an office/gift shop, providing everything that guests need for an unforgettable stay.
Babbitt, Minnesota, is a picturesque city situated in St. Louis County, in the northeastern part of the state. Located within the Iron Range, Babbitt is surrounded by the Superior National Forest, offering a serene natural setting with dense forests, clear lakes, and abundant wildlife. The city is about 100 miles north of Duluth and near the Boundary Waters Canoe Area Wilderness, making it a gateway for outdoor enthusiasts. Known for its rich mining history, Babbitt has a small-town charm with a strong sense of community, providing a tranquil lifestyle amidst Minnesota's beautiful Northwoods.
Birch Lake is known for its clear waters and abundant recreational opportunities. Covering approximately 7,000 acres with over 100 miles of shoreline, the lake is nestled within the Superior National Forest, offering a serene and picturesque setting. Birch Lake is popular for fishing, boating, and kayaking, with species such as walleye, northern pike, and smallmouth bass thriving in its waters. The surrounding forested areas provide excellent spots for camping, hiking, and wildlife viewing, making Birch Lake a favorite destination for nature lovers and outdoor enthusiasts.
The Boundary Waters Canoe Area Wilderness (BWCAW) is a vast wilderness area located in the northern part of the Superior National Forest in northeastern Minnesota, United States. It is renowned for its pristine lakes, rivers, forests, and abundant opportunities for outdoor recreation including camping, fishing, hiking, and portaging with the primary activity in the BWCAW being canoeing and kayaking. There are more than 1,200 miles of canoe routes, with over 1,000 lakes and countless rivers and streams. Paddlers can explore the interconnected waterways, enjoying the serene beauty of the region.
Proximity to larger cities:
100 miles north of Duluth, MN
236 miles northeast of Minneapolis, MN
270 miles northeast of Fargo, ND
389 miles southwest of Thunder Bay, ON
Airports in close proximity include Range Regional Airport (60 miles), Duluth International Airport (100 miles), and Falls International Airport (125 miles).
