Tourist-Commercial property on Golden Lake.

On sale from the owner-developer – 3 beautiful pieces of property on the majestic Golden Lake, Ontario, Canada.

Properties  include cottage resorts, cabin resorts, dining, residential home (on the developed piece of land), 45 acres of undeveloped land zoned Tourist Commercial. The plan for all 3 properties is shown below.

• The total land area is approximately 65 acres.
• Total waterfront – 3 000 feet. Some beaches are sandy, some are rocky with a forested waterline.
• Buildings: 7 cottages, 7 cabins, cafe, showers, game room, residential house, outhouses. Insured cost of buildings: $1 017 000.

Commercial properties and residential house.

Ideal property for a city escape or an early retirement.

The active business was started in 2012, and sales have grown impressively in the last 3 years. Sales $172 500 in 2017 (Fin year ends in September), with  EBITDA $92 406.

The cottage resort business can be considered as both a sound investment and an ideal retirement plan. The properties not only provide a solid and stable income, but also the sheer joy of the tranquil surroundings.

And what’s really special about the resort is the amount of people who will come to admire your beautiful new living environment. In the last couple of years, we have made more true friends than ever in our lives before.

Sale with owner’s financing.

All properties are  mortgage-free and can be sold rapidly. For qualified buyers we would consider the “financing from the seller option”. It can start as low as just a 50% downpayment. The interest is dependent on a variety of criteria, but can be estimated as the current average interest on the commercial financing. The seller is flexible with terms of financing, as long as the bank and legal adviser assess the deal as being “low risk”.

Most valuable resort assets.

– New cottages.

Not renovated, but totally new. They smells like new. They looks like new. And all pipes and engineering systems are done in the proper way. So they are reliable and easy accessible.

 

– New water lines and hydro lines in the ground. This is a most invisible, but the most important asset. It is very expensive, and sometimes just impossible to fix lines in the ground. Sometimes you should dig out hundred feet to find the flow.

– We have all surveys, all building permits and all ESA inspections filed.

Then I just started my way to the cottage business, I was aware, that documents are one of the most important assets. Eight years later, I’m not really sure if all of them are really important for the business. Although, if you expect to do any development or alterations, it is better to have those papers.

– Private waterfront and private picnic spot on the lake for the each cottage.

Please note: not “lake view” spots, not “lake access” cabins, as promoted by the most resorts.  We grant the privacy on the lake for the each guest. And, after 3 years of operations, I should say – this feature is our “best seller”.