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Mixed-Use Land for Sale in Aitkin, Minnesota

42206 438th Ln, Aitkin, MN 56431

$1,500,000
63.2 acres
pending
Under contract

Turn-Key Lakefront RV Resort & Commercial Investment. Exceptional opportunity to acquire a highly profitable, fully operational RV resort located on over 1,500 feet of premier lake shoreline. This meticulously maintained property features 31 fully occupied season RV sites, a custom 5,000+ square foot lakefront residence, an onsite restaurant, and extensive supporting infrastructure, all positioned for immediate operation and future growth.

Property Features:

31 seasonal RV sites, each individually metered for electricity. Over 1,500 feet of direct lake frontage with two rentable dock systems. Restaurant currently operating 3.5 days per week, offering significant expansion potential. Multi-tiered septic system supporting RV park operations; separate septic systems for residence, restaurant and LOT 1. 5,000+ FSF custom lakefront home featuring recent updates: newer roof, siding, windows, major interior renovations, and an expansive master suite. 60x100 heated shop and 24x40 insulated garage for operational and personal use. Fully booked seasonal occupancy with strong repeat clientele.

Investment Highlights: 2024 financials support a 4.34% cap rate at current list price. Immediate growth potential through expansion of RV sites and increased restaurant/bar operating hours. Turn-key operation with established profitability. Fully operational and open for the 2025 season.

This asset presents a rare blend of stable cash flow, strong asset appreciation potential, and multiple avenues for additional revenue growth. It is well-positioned for either a hands-on owner/operator or a passive investor with an experienced management team.

Financial documentation available upon execution of a Non-Disclosure Agreement.

Sq feet
1972
Built

Location

Street address
42206 438th Ln
Elevation
1,224 feet
Coordinates
46.6584, -93.7428

Directions

From Aitkin stop light go north on County Rd 1 to a left on County Rd 22 to straight on County Rd 24 to a right on 430th Place follow road and stay right to the property on the end of 438th Lane.

Property details

Acreage
63.2 acres
Zoning
Business/Commercial, Residential-Single Family
MLS #
RMLS 6708553
Posted

Property taxes

2024
$2,660

Parcels

  • 510008900

Details and features

Listing

Type
Commercial Sale
Franchise
RE/MAX International

Lot

Waterfront
Waterfront

Exterior

Parking
Detached Garage, Garage, Guest, Heated, RV

Structure

Heating
Fireplace(s), Hot Water
Cooling
Central Air

Listing history

DateEventPriceChangeSource
Nov 12, 2025Under contract$1,500,000RMLS
July 17, 2025Price drop$1,500,000$100,000 -6.3%RMLS
May 14, 2025New listing$1,600,000RMLS
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This 63.2-acre property is located at 42206 438th Ln in Aitkin, MN 56431. The property is pending sale. It has a structure built in 1972.

Checked 1 hour ago — Updated

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