The area of the island is 13 ha (32 acres) (750 meters long and 250 metres wide). The island divides the Narva Waterfall into eastern and western branches. The Estonia–Russia border runs through the eastern branch.
Already in the 14th century a sawmill was operating on Kreenholm. In 1538 the Livonian Order built a watermill on the left bank of the river just opposite the island. Since 1823 a cloth factory operated by a local merchant Paul Momma was opened on the right bank of the Narva River. Also the Baron Stieglitz's flax mill was located on the right bank.