Lake Miklavatn has an area of 1,1 kmē. It is rather shallow and is situated only 2 m above sea level in the valley Adaldalur. It is discharged to the river Skjalfandafljot.

Just east of it is a small lake called Kisi with the shape of a cat. Road no. 852 to the farmstead Silalaekur leads to the lake. The catch in both lakes is lake char, brown trout and sea char. They have been netted during the centuries.

The distance from the capital is about 479 km by the Whale Bay tunnel and 90 from Akureyri.