Additional details

Brandon Miskulin

brandon@executivestarrealty.com +1(218) 464-3126

Listed by Kerry F Davis Canoe Capital Realty, LLC

$979,000

Est. payment - /mo

4,350 SqFt

Save

UPDATED:

Key Details

Property Type Commercial

Sub Type Restaurant

Listing Status Active

Purchase Type For Sale

Square Footage 4,350 sqft

Price per Sqft $225

MLS Listing ID LSA6124637

HOA Y/N No

Land Lease Amount 2500.0

Year Built 1910

Annual Tax Amount $3,702

Tax Year 2026

Lot Size 3,049 Sqft

Acres 0.07

Lot Dimensions 25 x125 Leased building

Property Sub-Type Restaurant

Source lsar

Property Description

Rarely does an opportunity arise to own a cornerstone of the Ely community—a business that is not just a destination, but a way of life for those who love and live on Northern Grounds. After more than 30 years of expansion and growth, the current owners are ready to retire, leaving behind a thriving, multi-faceted enterprise with the iconic name that was twice established and is deeply rooted at the gateway to the Boundary Waters Canoe Area (BWCA). This turnkey sale includes a successful business operation at 2 W. Sheridan St. (leased building) and the strategic real estate and production hub at 36 W. Sheridan St. (Parcel 030-0260-00010). The Premier Coffee & Wine Bar: A sophisticated downtown anchor known for ethically roasting small-batch coffee and curating a world-class wine collection for an adventurous and loyal clientele. The Roasting Room (36 W. Sheridan): A state-of-the-art culinary hub powered by a 5lb Mill City Roaster. Currently meeting all internal needs, expanded hours offer significant potential for wholesale growth. Full commercial bakery and kitchen, designed for quality grab & go menu items is imperative to the area's food & beverage scene. Expanded menu and offerings could be accommodated. Upper-Level Residential Units: Two well-appointed units above the 36 W. Sheridan storefront, each featuring 1-bedroom, 1-bathroom, off-street parking, and access to a beautiful private landscaped garden and gazebo. These spaces are ideal for commercial use or continued employee housing. Society Hall: A professional, light-filled co-working and high-end event space designed for independent collaboration, weddings, and community gatherings. Not currently leased but can be. Northern Grounds is defined by its commitment to environmental, social, and economic sustainability. It is a high-performing business that cash flows exceptionally well and is listed significantly below its professional 2025 Year End valuation. Authentic, raw, and never posed. This isn't just a shop; it's a journalistic tribute to the 47° N life, free from filters and full of heart. The most desirable asset of Northern Grounds is its people. A loyal, trained staff and a devoted customer base are ready to welcome the next owner. This is a rare invitation to lead a business where honesty, trust, and curiosity are the daily backdrop. Asking price $979,000 Call Kerry at 218-235-1084

Location

State MN

County St. Louis County

Area Lsar

Direction Sheridan St Ely MN to addresses.

Rooms

Basement Partial

Interior

Heating Forced Air, Propane

Inclusions Business, Business Assets, Fixture/Equipment, Leases

Exterior

View Y/N No

Roof Type Rubber

Garage No

Building

Foundation Poured Concrete

Sewer Public Sewer

Water City

Structure Type Brick

Others

Acceptable Financing Conventional

Listing Terms Conventional

Read Less Info

Nearby School & Business

Brandon Miskulin

WI Broker, MN Agent | License ID: 58234-90, 40371939

+1(218) 464-3126 | brandon@executivestarrealty.com

2 W Sheridan St Ely, MN 55731

Brandon Miskulin

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby School & Business

BUYING MY HOME