Ely Steakhouse
The iconic Ely Steakhouse is up for sale for the first time since opening. Established in 1997, this independently owned and operated full-service restaurant is located in downtown Ely, MN. Real Estate is for sale as part of the offering. The restaurant closed for business in October 2023 and is ready for a new owner to step in and carry on the tradition.
• Estimated 250k visitors per year to Ely
• Prime downtown location
• 27 year legacy
• 4 unit apartment complex on 2nd story
Seller financing available for a qualified buyer.
Sunbelt Listing ID: 54787
Interested buyers must be able to demonstrate minimum available capital of $100,000
- Listing ID:
- 54787
- Industry:
- Restaurant & Bar
- Location:
- Minnesota
- Revenue:
- $932,591
- Business Price:
- $225,000
- Down Payment:
- $100,000
- SDE (Cash Flow):
- $122,618
- Real Estate for Sale:
- Yes
- Real Estate Price:
- $390,000
- Listing Agent:
- Nick Dunnom
- FF & E:
- $81,500
- Years in Business:
- 20+ years
- Reason for selling:
- Retirement
- Seller Financing Available:
- Yes