1145 E Sheridan St | Ely, MN 55731
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- LoopNet Team
1145 E Sheridan St
Ely, MN 55731
Adventure Inn · Hospitality Property For Sale · 18,804 SF
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 | No. Stories | 2 |
| Property Subtype | Hotel | Year Built/Renovated | 1940/2010 |
| Building Class | C | Parking Ratio | 1.38/1,000 SF |
| Lot Size | 0.43 AC | Corridor | Exterior |
| Building Size | 18,804 SF |
| 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 |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
- Fully-Equipped Kitchen
ZONING
| Zoning Code | Commercial (Commercial) |
| Commercial (Commercial) |
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