5731 Highway 61 - Superior National Golf Course at Lutsen 4,500 SF Sports & Entertainment Building Offered at $4,133,544 CAD at a 12.06% Cap Rate in Lutsen, MN 55612
INVESTMENT HIGHLIGHTS
- 12.06% cap rate - Premier 27-hole golf course located on 213.16 acres in the popular outdoor vacation destination of Lutsen, MN
- One of MN's top 10 destination golf courses with a recent multimillion-dollar renovation
- Owned by Cook County / Grand Marais Joint EDA, the sale requires a process of approvals & stipulations that are described in the offering materials
- Set between the North Shore of Lake Superior and the Sawtooth Mountain Range, the majestic views make for an unparalleled experience
- Also included are the 4,500 sf clubhouse with pro shop, bar and grill, golf simulator, and outdoor patio along with a driving range and putting green
EXECUTIVE SUMMARY
The property boasts a fully equipped clubhouse with a pro shop, bar and grill, and golf simulator, providing year-round recreation and relaxation. Guests can enjoy additional amenities, including a driving range, putting green, lessons, equipment rentals, and a beverage cart.
Superior National’s $4.6 million renovation of the River and Canyon Nines completed in 2018 solidified its status among Minnesota’s top 10 golf courses. Offering everything from scratch player challenges to beginner-friendly layouts, the Property guarantees an unparalleled golfing experience, making it a must-visit location for avid golfers and vacationers along the North Shore.
PROPERTY FACTS
| Price | $4,133,544 CAD |
| Price Per SF | $918.57 CAD |
| Sale Type | Investment |
| Cap Rate | 12.06% |
| Sale Condition | Business Value Included |
| Property Type | Sports & Entertainment |
| Property Subtype | Golf Course/Driving Range |
| Building Class | B |
| Lot Size | 74.71 AC |
| Building Size | 4,500 SF |
| No. Stories | 1 |
| Year Built | 1991 |
| Opportunity Zone |
Yes |
ABOUT 5731 HIGHWAY 61 , LUTSEN, MN 55612
Lutsen, Minnesota, is a charming community located in Cook County along the scenic North Shore of Lake Superior. Nestled between the Sawtooth Mountains and the lake, Lutsen offers breathtaking views and serves as a gateway to some of Minnesota's most stunning natural landscapes. Known for its outdoor recreation opportunities, Lutsen is a hub for visitors exploring the Superior Hiking Trail, the Boundary Waters Canoe Area Wilderness, and the many state parks in close proximity. Lutsen is home to Lutsen Mountains, Minnesota’s largest ski resort, which offers year-round activities. In winter, it’s a premier destination for skiing and snowboarding, with 95 runs spread across four mountains. During the warmer months, visitors can enjoy scenic gondola rides, hiking trails, and mountain biking, all offering spectacular views of Lake Superior. The proximity to Lake Superior provides endless opportunities for fishing, kayaking, and relaxing on its rocky beaches. Lutsen's lakeshore boasts a serene and picturesque setting, with nearby waterfalls and forested bluffs adding to the region's allure. Surrounding Lutsen, the Superior National Forest offers dense woodlands, pristine lakes, and abundant wildlife. It is a favorite spot for hiking, birdwatching, and camping, making it a year-round destination for nature lovers. Proximity to Larger Cities: 90 miles northeast of Duluth, MN 100 miles southwest of Thunder Bay, ON 245 miles northeast of Minneapolis, MN 330 miles northeast of Fargo, ND Airports within reasonable distance include Duluth International Airport (90 miles) and Thunder Bay International Airport (100 miles).
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,150,815 CAD | |
| Land Assessment | $8,595,888 CAD | Total Assessment | $9,746,703 CAD |
