Williams and Hall Outfitters Lists for $1.8M After 60 Years on Moose Lake Near Ely Minnesota
A Minnesota Institution Hits the Market
Williams and Hall Outfitters one of the most recognized canoe outfitters serving the Boundary Waters Canoe Area Wilderness is listed for $1.8 million The property sits on the shores of Moose Lake near Ely at 14694 Vosburgh Road and has been in continuous operation for roughly 60 years The listing is held by Frank Jermusek and Emilia Molle of SVN Northco Real Estate Advisors a commercial real estate firm based in St Louis Park
Blayne Hall has co owned the outfitter for more than 30 years with his wife Charlene and business partner Kevin Lynch Hall originally worked as a real estate developer in Chicago before acquiring the business from the Williams family in the early 1990s This will be our 33rd summer Hall said Were getting older and this is a tough game on the outfitting side We decided it was time to pass the baton
What the $1.8M Asking Price Actually Includes
The total offering is divided into two parts The business property is listed at $1.2 million and carries a 15% cap rate with annual net operating income of approximately $180000 The owners home on the same parcel is listed separately at $600000
The full 3.45 acre lakefront property includes roughly 500 feet of shoreline on Moose Lake a main lodge a full service dining room and a fully stocked outfitter facility with canoe rentals and camping gear for wilderness trips The lodge can sleep up to 120 guests The business operates seasonally from mid May through early October and approximately two acres on the property are designated for future development
Strong Revenue and Room to Grow
Financial performance at Williams and Hall has remained strong well beyond the pandemic era outdoor recreation surge Hall confirmed that revenues in 2022 2023 and 2024 ran approximately 30% above pre pandemic levels a signal that demand for Boundary Waters access has not pulled back
Hall also pointed to expansion potential in winter programming naming dog sledding skiing snowshoeing and ice fishing as areas where the operation could grow The roughly two acres of undeveloped land could support additional guest infrastructure for year round revenue
What This Means for Minnesota Real Estate
Deals like this one are a useful reminder that Minnesota real estate extends well beyond the metro The states outdoor recreation economy is built on real property and that property carries measurable trackable value A 15% cap rate on a lakefront outfitter in northern Minnesota is a different category than a single family home in Woodbury or Stillwater but the underlying principles are the same Location consistent demand and income performance drive the number
Legacy commercial properties at this price point and with this kind of operating history rarely come to market For buyers exploring lifestyle business investments in Minnesota this is a rare window For anyone tracking how outdoor recreation shapes real estate values across the state this deal is worth following
Thinking about buying or selling in the Twin Cities Lets talk Text Darin Bjerknes at 612 702 5126 or DM on Instagram @darintheminnesotan
