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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Mixed-Use Building in Downtown Ely
    Updated: Aug 1, 2024
    Mixed-Use Building in Downtown Ely

    216 E Sheridan St, Ely, MN

    Contact for pricing
    8,078 sqft 0.14 AC lot
    Prime downtown Ely location on Highways 1/169.
    Multi‑purpose commercial real estate with restaurant and apartments.
    Restaurant space of 4,014 sq. ft. with seating for 150.
    Four residential rental units on the second floor.
    Income potential from 3 out of 4 rented apartment units.
    View details
    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 8 Potential Opportunities for your consideration. Besides 1 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 3 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Six-Unit Apartment Building
    Six-Unit Apartment Building

    1530-1532 E 1st St, Duluth, MN 55812

    $699,000
    4,566 sqft 0.10 AC lot

    Separate electrical service for each unit supports straightforward utility management.

    View details
    37-Unit Mixed-Use Property
    37-Unit Mixed-Use Property

    210 Main St W, Ashland, WI 54806

    $2,775,000
    35,078 sqft 0.48 AC lot

    Main-level storefronts complement apartments with private bathrooms and floor-by-floor coin laundry.

    View details
    Apartment Building with Storefront
    Apartment Building with Storefront

    410 Main St W, Ashland, WI 54806

    $450,000
    3,485 sqft 0.08 AC lot

    Mixed-use configuration combines a ground-floor commercial storefront with upper-level residential units.

    View details
    5-Unit Apartment Building
    5-Unit Apartment Building

    1426 - 1428 E 1st Street, Duluth, MN 55805

    $475,000
    4,828 sqft

    Five fully rented units with recently replaced roof; mix includes studios plus one- and three-bedroom apartments.

    View details

    Off-Market Properties in Ely, MN

    Consider similar Off-Market properties in Ely, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    127 1st E Ave
    APARTMENT HOUSE (5+ UNITS)

    127 1st E Ave, Ely, MN 55731-1261

    $285,000
    Estimated value
    4,476 sqft
    View details
    338 4th E Ave
    APARTMENT HOUSE (5+ UNITS)

    338 4th E Ave, Ely, MN 55731-1553

    $130,000
    Estimated value
    2,320 sqft
    View details
    100 2nd W Ave, Unit 2
    APARTMENT HOUSE (5+ UNITS)

    100 2nd W Ave, Ely, MN 55731-1168

    Unit 2
    $1,175,000
    Estimated value
    9,990 sqft
    View details

    Ely, MN Apartment Buildings Market Trends and Statistics

    Explore 4 apartment buildings for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 8,078 square feet of properties for sale.

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    Demographics Overview

    Population 5,292
    Population Growth (5Y) -10.5%
    Median Household Income $62,900
    College Educated 54.0%

    Taxes & Financing

    Tax Rate (average for all types) 1.56%
    Property Tax per SF $11.67 per SF
    Tax Rate vs County Average 1.02 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in St. Louis County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in St. Louis County

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