This Hospitality Property is no longer advertised on LoopNet.com.

1145 E Sheridan St
Ely, MN 55731
 Adventure Inn · Hospitality Property For Sale · 18,804 SF

Hotels Minnesota Ely 1145 E Sheridan St, Ely, MN 55731

INVESTMENT HIGHLIGHTS

  • Eco-friendly, 26-unit hotel in a popular vacation market. 14.5% cap rate with very consistent revenue; 2020 EBITDA eclipsed the previous two years.
  • Great opportunity for an owner-operator. There is a manager's apartment on-site.
  • In close proximity to the Boundary Waters Canoe Area ("BWCA"), the largest wilderness area east of the Rockies, an outdoor enthusiast's dream.
  • Built in 2004 with a 10-unit building addition in 2010. Original building has exterior corridors while the expansion has interior corridors.
  • Many bathrooms have been recently renovated, and new decking has been installed.
  • Located off Route 169 (the "main drag" in Ely) with easy access to downtown Ely and its numerous restaurants, pubs, and entertainment options.

PROPERTY FACTS

Property Type Hospitality
Property Subtype Hotel
Building Class C
Lot Size 0.43 AC
Building Size 18,804 SF
No. Stories 2
Year Built/Renovated 1940/2010
Parking Ratio 1.38/1,000 SF
Corridor Exterior
Zoning Commercial - Commercial

AMENITIES

  • High Speed Internet Access
  • Public Access Wifi
  • Fully-Equipped Kitchen

LINKS

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  • Listing ID: 23208504

  • Date on Market: 5/26/2021

  • Last Updated:

  • Address: 1145 E Sheridan St, Ely, MN 55731

More public record information on 1145 E Sheridan St, Ely, MN 55731

The Hospitality Property at 1145 E Sheridan St, Ely, MN 55731 is no longer being advertised on LoopNet.com. Contact the broker for information on availability.

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