Area Real Estate News & Market Trends

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Oct. 25, 2018

What is a boat slip on Lake Minnetonka worth?

Many people wonder if they can buy or rent a boat slip on Lake Minnetonka for the season—and the answer is yes you can buy or rent boat slips on Lake Minnetonka Bays—but you really have to know what you are doing. Much of the price whether buying or selling will depend on the location of the slip, how big a boat the slip can accommodate, whether or not the slip is covered, whether or not it is protected, whether or not there is parking nearby.

What is a boat slip on Lake Minnetonka Worth?

In recent years, I have seen slips and dock rights trade hands for as little as $40k upwards of $125k. Premiere locations and sizes of boat slips may command upwards of $200,000, given the right circumstances. These slips have been both on and off Lake Minnetonka, and have been for easements, for small parcels of land adjacent to waters with covered slips, my own 5 foot wide parcel on Medicine Lake which made the front page of the Star Tribune, and more.

Rentals on Lake Minnetonka range from $1,700 for a small fishing boat to $10,000 (so I hear) to be in front of 6Smith and the Boatworks on Wayzata Bay with a 40+ foot boat. Many different marinas and organizations including municipalities rent slips on Lake Minnetonka as well – Wayzata, Excelsior, Mound—which has an entirely different program known as the Commons.

Every year it seems to be a mad scramble to find a boat slip—each property owner seems to want to bump the rent a bit, and every year the boat slip renter tries to find a little better deal than last year.

If you have a small piece of lakeshore or boat slip you want to have rented and or manage annually, feel free to drop me a line. I’ll be happy to come out and talk with you about the kind of income you might be able to expect, and the best way to arrange any structures you might place in the water, so that you can maximize your income and space within the limited of the zoning regulations that are in place.

Additionally, if you have a boat slip or a small piece of unbuildable land you need to sell on Lake Minnetonka, feel free to give me a call when you want a price opinion and need to sell the property at a pinnacle price. Given all the experience I have in working with dock owners, neighbors, government agencies, etc., I’ll be happy to put my experience to work for you to achieve your goals.

Dan (952) 473-1000

July 31, 2017

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Posted in Market Updates