Turn-Key Resort Business Plus Property For Sale

2206 County Rd L, Tomahawk, WI 54487               715-351-0000     FOR SALE             $629,000
*deeded as Residential OR Commercial

Items included in sale of property: (ALL items on property other than seller's personal property, riding lawn mower and personally owned tools)

3-3 bedroom cabins, 1-2 bedroom cabin, 1-1 bedroom cabin

1 car garage
1 brand new 12x24 ft. storage shed(July 2020)

Fish house/pump house

4 roll-out piers

5 rowboats

1 paddle boat

1 canoe

Approximately 20-30 lifejackets

Approximately 40 lawn chairs

Approximately 6 sets of oars and anchors

All furnishings and kitchen items in each cabin

All linens and cleaning items

5-6 vacuums

5-7 outdoor charcoal grills

4 firepits

Washer/dryer

1 wireless internet router plus router expander nodes



We purchased in Feb. 2005. Previous owners took all cash and didn't record any income on taxes. We purchased the property because we fell in love with it and had the foresight to turn it into a wanted vacation destination! We are only selling due to early retirement due to health issues. 

The property is a year-round resort with approx. 350 ft of beach frontage on Lake Nokomis in Oneida County. The property is on a fantastic snowmobile trail. In 2007, we chose to change the rental dates to May-Oct. and close down during the winter due to our proximity to the resort(living 4 hours away or out of state and working full time jobs). The snowmobile trail was approved for ATV's as of 2010, but now most ATV's and UTV's are allowed to drive on the roads. 


Big Opportunities: 

  • There's huge opportunity to re-open the resort in the winter to take advantage of that snowmobile income as people still continue to call us to rent in the winter. 
  • The previous owners rented out outboards and a pontoon boat for additional income. They also sold bait/tackle to the renters. We stopped all "onsite" rentals due to the fact that we are not there to monitor. That could be great additional income as renters ask for those all of the time

Prior to us moving from California to Wisconsin in the spring of 2020, all cleaning and maintenance was contracted(those folks are possibly interested in coming back, if needed). There are NO employees of the resort other than us, as the owners.

We have consistently been updating the property since purchase.

Our rental history is 85% year over year repeat rentals. In 2020, we chose to shut down in May due to Covid and the uncertainty of safety. We opened back up in June and the demand for rentals has been bigger than ever. For the 2021 season we increased our pricing as we haven't increased prices since 2006. We also moved over to an auto-booking system where people see all availability and book themselves with the parameters of the weekly rentals and other special circumstances throughout the season.

 

There are 5 cabins on the property. The previous owners rented out ALL 5. We only rent 4 of the cabins and keep the 1 bedroom cabin for our personal use. The attic of the largest cabin is ideal for completion of living quarters. It is a bare attic currently and has its own separate entrance.

All cabins were built by hand by the original owner in the 1960’s. They are very cute, clean and well-maintained. Since we purchased we have replaced most of the plumbing piping and furnaces in each cabin. We have replaced the lake wall with DNR approved rip-rap. We have replaced ALL of the living room furniture in each cabin and have upgraded the mattresses in most cabins. We have also purchased 4 new roll-out piers since purchase of the property.


NOTES:

 

2019 property taxes $5,649.56

 

We run on a CASH BASIS.

 

ALL nonrefundable deposits are counted as income immediately

 

Revenues fluctuate depending on what year people secure their reservation with a deposit

1.26 acres according to tax bill 

approx. 2 acres of used land 


NOTE: The pics below and the looks of the interiors/furniture may have been upgraded/changed since these pics have been taken.
***The Birchwood bathroom was completely remodeled... unfortunately, there are no updated pics to show, at the moment.