2331 Old Hwy 169 Ely, MN 55731

This commercial property in Ely, Minnesota, presents an opportunity to live and work up north. The property includes a boat storage, rental, and servicing business with books that support the asking price, passive income, and growth opportunities. Situated on 11.5 acres on a paved road, the property offers visibility from the corner of Highway 169 and Grant McMahan, approximately 5 miles south of Ely. The improvements include 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 includes 17-foot high double doors on each end, an office with laundry and bath facilities, a one-bedroom, one-bathroom upstairs apartment, and indoor storage for 14 boats. There is outdoor storage for over 50 boats, with room for more and the potential to construct additional storage buildings. Most storage is a repeat contract for 6-7 months and includes retrieval from the lake, motor winterization, storage, and spring launch. Additional services such as tune-ups and rigging are provided as needed. Currently, 128 boats are shrink-wrapped on or off-site, including commercial multi-boat clients. The business includes 2 pontoon rentals. A new septic system was installed in 2021. The property has a 145-foot drilled well and Starlink internet. This is a turnkey opportunity to own your own business in Ely.