Hotel-Motel

Thumper Pond Resort

300 Thumper Lodge Rd, Ottertail, MN 56571

Listing Price: $4,500,000

Number of Rooms
78
RevPAR
$33
Price/Room
$57,692
RRM
4.76
Year Built
2000

Investment Overview

Marcus & Millichap is proud to have been chosen as exclusive advisor and broker in regard to the marketing effort of Thumper Pond Resort in Ottertail, Minnesota. The offering includes a 78-room hotel with attached restaurant, water park and banquet facilities, an 18-hole championship golf course and a 26 lot RV park with space to expand an additional 33 sites; all RV park sites feature large level pads and full hookups. The total acquisition encompasses +/- 221 acres amongst 20 parcels; Buyer shall verify exact acreage and parcel count during due diligence. In addition, current ownership owns 23 (subject to change as they sell) residential lots along the golf course that are not included in the list price but may be discussed if a buyer so choses. The entire resort is offered at a substantial discount to replacement cost and is unencumbered by franchise or management agreements.

The clubhouse was originally constructed in 2001, the hotel and banquet facilities followed soon after in 2005 and completion of the water park including a 3-story slide occurred in 2016. This acquisition opportunity is ideal in terms of timing as golf courses and RV/campgrounds are both growing in popularity and the hotel, waterpark and banquet facilities are due to bounce back following both property specific and macro-economic business disruptions. In July of 2019 a fire started in the kitchen which resulted in an extended shut down ultimately leading to the cancelation of both event and room reservations. These cancelations occurred during peak summer months which is the most profitable time of the year for Minnesota destination resorts like Thumper Pond. The premise also boasts outdoor event space which is becoming a more sought-after amenity in site selection.

The city of Ottertail is approximately 175 miles northwest of Minneapolis and is located in the scenic lakes country area of the state. This location drives year-round demand stemming from recreational activities including hunting, fishing, camping, ATVs, snowmobiling, canoeing, boating, and numerous other outdoor and water activities. It is mainly served by the highly traveled Interstate 94 to the South and Highway 10 to the North. It is located equidistant from larger metropolitan areas such as Fargo, North Dakota and Saint Cloud and Brainerd, Minnesota. The resort is located directly across the highway from Otter Tail lake, the largest lake in Otter Tail county and the tenth largest lake in the state.

Investment Highlights

  • Fully Operational "Drive To" Resort Destination
  • Offered at a Substantial Discount to Replacement Cost
  • Upside Potential for an Experienced Resort Operator or Hands-On Industry Newcomer
  • Sale Includes Increasingly Popular 18 Hole Golf Course and Expandable RV Lot
  • Recently Built Structure with the Most Recent Addition Occurring in 2016
  • Located in the Heart of Minnesota's Lakes Country Supporting Year-Round Demand

Exclusively Listed By

  • Jeremie Johnson

    First Vice President Investments

    (317) 218-5342

    Email Jeremie

    License(s): IN: RB14050666

    Indianapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

Listing Price: $4,500,000

Number of Rooms
78
RevPAR
$33
Price/Room
$57,692
RRM
4.76
Year Built
2000

Investment Highlights

  • Fully Operational "Drive To" Resort Destination
  • Offered at a Substantial Discount to Replacement Cost
  • Upside Potential for an Experienced Resort Operator or Hands-On Industry Newcomer
  • Sale Includes Increasingly Popular 18 Hole Golf Course and Expandable RV Lot
  • Recently Built Structure with the Most Recent Addition Occurring in 2016
  • Located in the Heart of Minnesota's Lakes Country Supporting Year-Round Demand

Investment Overview

Marcus & Millichap is proud to have been chosen as exclusive advisor and broker in regard to the marketing effort of Thumper Pond Resort in Ottertail, Minnesota. The offering includes a 78-room hotel with attached restaurant, water park and banquet facilities, an 18-hole championship golf course and a 26 lot RV park with space to expand an additional 33 sites; all RV park sites feature large level pads and full hookups. The total acquisition encompasses +/- 221 acres amongst 20 parcels; Buyer shall verify exact acreage and parcel count during due diligence. In addition, current ownership owns 23 (subject to change as they sell) residential lots along the golf course that are not included in the list price but may be discussed if a buyer so choses. The entire resort is offered at a substantial discount to replacement cost and is unencumbered by franchise or management agreements.

The clubhouse was originally constructed in 2001, the hotel and banquet facilities followed soon after in 2005 and completion of the water park including a 3-story slide occurred in 2016. This acquisition opportunity is ideal in terms of timing as golf courses and RV/campgrounds are both growing in popularity and the hotel, waterpark and banquet facilities are due to bounce back following both property specific and macro-economic business disruptions. In July of 2019 a fire started in the kitchen which resulted in an extended shut down ultimately leading to the cancelation of both event and room reservations. These cancelations occurred during peak summer months which is the most profitable time of the year for Minnesota destination resorts like Thumper Pond. The premise also boasts outdoor event space which is becoming a more sought-after amenity in site selection.

The city of Ottertail is approximately 175 miles northwest of Minneapolis and is located in the scenic lakes country area of the state. This location drives year-round demand stemming from recreational activities including hunting, fishing, camping, ATVs, snowmobiling, canoeing, boating, and numerous other outdoor and water activities. It is mainly served by the highly traveled Interstate 94 to the South and Highway 10 to the North. It is located equidistant from larger metropolitan areas such as Fargo, North Dakota and Saint Cloud and Brainerd, Minnesota. The resort is located directly across the highway from Otter Tail lake, the largest lake in Otter Tail county and the tenth largest lake in the state.

Exclusively Listed By

  • Jeremie Johnson

    First Vice President Investments

    (317) 218-5342

    Email Jeremie

    License(s): IN: RB14050666

    Indianapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Jared Plamann

    Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

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