2331 Old Highway 169 Ely, MN 55731

This commercial property in Ely, Minnesota, presents an opportunity to live and work in a northern setting. The property is a boat storage, rental, and servicing business with potential for passive income and growth. Situated on 11.5 acres on a paved road, the location offers visibility from the corner of Highway 169 and Grant McMahan, approximately 5 miles south of Ely. The property includes a year-round house with one bedroom and one bathroom, featuring a screened porch with the potential for a second bedroom. A 4920-square-foot storage building is equipped with 17-foot high double doors on each end, an office with laundry and bath facilities, a one-bedroom, one-bathroom upstairs apartment suitable for year-round use, and indoor storage for 14 boats. There is outdoor storage capacity for over 50 boats, with room for expansion and the potential to construct additional storage buildings. The business primarily involves repeat contracts for 6-7 months, including retrieval from the lake, motor winterization, storage, and spring launch services, with additional services such as tune-ups and rigging available as needed. Currently, 128 boats are shrink-wrapped on and off-site, including commercial multi-boat clients. The business also includes two pontoon rentals. The property features a new septic system installed in 2021, a 145 ft drilled well, and Starlink internet. This is a turnkey opportunity to own a business in Ely.