2 W Sheridan StEly, MN 55731
St. Louis County
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
Property Information
- Property type
- Commercial Sale
- Sub-type
- Business
- Year built
- 1910
- Living area
- 4,350 Sq Ft
- Lot size
- 0.07 acres
- Lot dimensions
- 25 x125 Leased building
- Ownership
- Leasehold
- Days on market
- 203
- MLS® Listing#
- 6124637
Property Features
- Heating
- Forced Air · Propane
- Basement
- Partial
- Construction
- Brick
- Roof
- Rubber
- Utilities
- Cable Available
- Sewer
- Public Sewer
- Water source
- Public
Financial Details
- Annual taxes
- $3,702Tax year 2026
- Parcel number
- 030-0010-01300 Leased 030-0280-0010 (owned)
Directions
Sheridan St Ely MN to addresses.
Listing Courtesy: Canoe Capital Realty, LLC - ***
