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    Ely, MN Apartment Buildings for Sale

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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

    $390,000
    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.
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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 12 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, plus 4 Land Listings that present a potential for development.

    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

    Well-maintained six-unit building with newer roof and off-street parking, featuring separate electrical service for each unit.

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    Five-Unit Apartment Building
    Five-Unit Apartment Building

    1028 Banks Ave, Superior, WI 54880

    $329,000
    2,260 sqft 0.09 AC lot

    Fully leased five-plex with updated apartments, poured-concrete basement, and recent roof and boiler upgrades.

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    Corner 5-Plex Income Property
    Corner 5-Plex Income Property

    1028 Banks Ave, Superior, WI 54880

    $329,000

    Fully leased 5-plex with three 1-bedroom units and two studios in a corner location.

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    Gary New Duluth Investment Opportunity
    Gary New Duluth Investment Opportunity

    1321 Commonwealth Avenue, Duluth, MN 55808

    $295,000
    3,216 sqft 0.23 AC lot

    Bar, apartments, and outdoor recreation area for sale.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Prime Development Land, Springfield MO
    Prime Development Land, Springfield MO

    N West Bypass, Springfield, MO 65802

    $2,850,000
    29.20 AC lot

    29.2 acres of retail-zoned land for mixed-use development.

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    Land Near Shepherd University
    Land Near Shepherd University

    8285 MARTINSBURG Pike, Shepherdstown, WV 25443

    $650,000
    3.70 AC lot

    Prime land near Shepherd University with development potential.

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    Norman Land For Luxury Condos
    Norman Land For Luxury Condos

    801 NW 36th Avenue, Norman, OK 73072

    $285,000
    0.74 AC lot

    Prime Norman land suitable for luxury condos development.

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    Buildable Lot for Luxury Condos
    Buildable Lot for Luxury Condos

    801 36th Ave NW, Norman, OK 73072

    $285,000
    0.74 AC lot

    0.74 acre buildable lot zoned for low-density apartments.

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    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

    Value Estimation by Request
    4,476 sqft
    View details
    338 4th E Ave
    APARTMENT HOUSE (5+ UNITS)

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

    Value Estimation by Request
    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, with an estimated market value of $390,000.

    Sale prices for two-family homes in Ely, MN start at $390,000, averaging $390,000, and reaching up to $390,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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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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