Grenada Lake is a wonderful lake to explore by renting a boat. This lake covers over 35,000 surface acres so there is plenty of lake area to explore. Grenada Lake is located in northern Mississippi in the city of Grenada just about an hour south of Memphis. Fishing, skiing, camping, hiking, and recreational boating are all popular on this lake. Get out and rent a boat and enjoy Grenada Lake, Mississippi. Below are the boat rental companies that we know of on the lake.