2331 Old Highway 169 Ely, MN 55731

This commercial and industrial property in Ely, Minnesota, presents an opportunity to live and work in a northern setting. The property, situated on 11.5 acres along a paved road, benefits from visibility at the corner of Highway 169 and Grant McMahan, approximately 5 miles south of Ely. The site 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, and a one-bedroom, one-bathroom year-round apartment upstairs. The building provides indoor storage for 14 boats. Outdoor storage accommodates over 50 boats, with room for expansion and the potential to construct additional storage buildings. The business includes boat storage, rental, and servicing, with potential for passive income and growth. Most storage agreements are repeat contracts for 6-7 months, encompassing retrieval from the lake, motor winterization, storage, and spring launch. Additional services offered include tune-ups and rigging. Currently, 128 boats are shrink-wrapped on and off-site, including commercial multi-boat clients. The business also features two pontoon rentals. The property includes 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.