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Ely, MN

Ely, MN Commercial Real Estate for Sale

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Isabella, MN Babbitt, MN Tower, MN

11 properties

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Historic Commercial Building in Ely, MN

Updated: May 13

Historic Commercial Building in Ely, MN

145 E Chapman St, Ely, MN 55731

$300,000

5,000 sqft

Prime downtown Ely location on a high visibility corner lot.
Leased main floor space provides immediate income until April 2027.
Substantial recent updates including a new roof (2023) and fuel oil boiler (2021).
Historic building (built in 1920) with original tin ceilings and wood floors in the leased space.
5000 sq ft commercial building with 4 separate leasing areas.

Mixed-Use Retail and Apartment Building

Updated: Jul 1

Mixed-Use Retail and Apartment Building

120 E Sheridan Street, Ely, MN 55731

$229,000

Prime location on Sheridan Street with high traffic exposure.
Dual income potential from commercial space and two rentable 1‑bedroom apartments.
3,000+ sq ft commercial building with four large display windows, ideal for retail.
Potential to divide retail space into two separate units.
Located in a tourism‑rich area near the Boundary Waters.

Mixed-Use Live-Work Building

Mixed-Use Live-Work Building

133 E Chapman Street, Ely, MN 55731

$230,000

Mixed-use building with open main level and an upstairs one-bedroom apartment with private rear access, deck, and off-street parking.

Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center

Ely, MN Commercial Opportunity

Ely, MN Commercial Opportunity

2331 Old Hwy 169, Ely, MN 55731

$498,500

4,920 sqft · 11.50 AC lot

Live and work up north with excellent growth opportunities!

Downtown Ely Commercial Building

Downtown Ely Commercial Building

29 E Chapman St, Ely, MN 55731

$299,000

6,900 sqft · 0.19 AC lot

Two-level commercial building in downtown Ely with business potential.

Turnkey Coffee & Wine Bar Building

Turnkey Coffee & Wine Bar Building

2 W Sheridan St, Ely, MN 55731

$979,000

4,350 sqft

Turnkey operation with a roasting room, commercial kitchen, and two 1-bedroom units above the storefront.

Ely MN Resort on Moose Lake

Ely MN Resort on Moose Lake

14694 Vosburgh Road, Ely, MN 55731

$1,800,000

3 sqft

Premier Boundary Waters outfitter on 3.45 acres with 500ft shoreline.

Established Ice Business Opportunity

Established Ice Business Opportunity

442 N 15th Ave E, Ely, MN 55731

$349,000

0.16 AC lot

Well-established ice business with real estate and equipment included.

Commercial Building in Ely's Downtown

Commercial Building in Ely's Downtown

137 E Sheridan St, Ely, MN 55731

$375,000

4,200 sqft

Meticulously maintained 4,200 sq ft retail space in Ely.

Mixed-Use Building in Downtown Ely

Mixed-Use Building in Downtown Ely

216 E Sheridan St, Ely, MN

$390,000

8,078 sqft · 0.14 AC lot

Two-story building with restaurant and four apartments in Ely.

Established Ice Business Opportunity

Established Ice Business Opportunity

442 N 15th Ave E, Ely, MN 55731

$349,000

Well-established ice business with real estate and equipment included.

Based on your search, we've compiled 76 Potential Opportunities for your consideration. Besides 11 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 61 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.

Bar and Grill with Outdoor Deck

Bar and Grill with Outdoor Deck

2667 HWY 70, Babbitt, MN 55731

$199,000

Turnkey bar and grill with a spacious dining room, full commercial kitchen, and outdoor seating on a deck.

Historic Bed & Breakfast Retreat

Historic Bed & Breakfast Retreat

30 Center St., Soudan, MN 55782

$845,000

Exquisite bed and breakfast near Lake Vermilion and Giants Ridge.

Well-Maintained Church with Classrooms

Well-Maintained Church with Classrooms

32 Church Street, Soudan, MN 55782

$150,000

Church building with sanctuary, classrooms, offices, and a full lower level plus on-site storage buildings.

Babbitt Commercial Property For Sale

Babbitt Commercial Property For Sale

105 Central Boulevard, Babbitt, MN 55706

$499,000

0.60 AC lot

Commercial property available for purchase in Babbitt, Minnesota.

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.

COMMERCIAL (GENERAL)

440 15th E Ave, Ely, MN 55731-1854

Value Estimation by Request

4,100 sqft · 1.07 AC lot

106 Sheridan St

COMMERCIAL (GENERAL)

106 Sheridan St, Ely, MN 55731

Value Estimation by Request

2,452 sqft

12007 Riverpoint Rd

HOTEL-RESORT

12007 Riverpoint Rd, Ely, MN 55731

Value Estimation by Request

5.04 AC lot

14641 Canadian Border Rd

RETAIL STORES (PERSONAL SERVICES)

14641 Canadian Border Rd, Ely, MN 55731

$635,000

Estimated value

1,440 sqft · 7.62 AC lot

915 Sheridan St

COMMERCIAL (GENERAL)

915 Sheridan St, Ely, MN 55731

Value Estimation by Request

9,375 sqft

HOTEL-RESORT

Ely, MN 55731

Value Estimation by Request

150 Sheridan St

COMMERCIAL (GENERAL)

150 Sheridan St, Ely, MN 55731-1123

Value Estimation by Request

1,224 sqft

419 Sheridan St

COMMERCIAL (GENERAL)

419 Sheridan St, Ely, MN 55731-1455

Value Estimation by Request

1,050 sqft

COMMERCIAL (GENERAL)

11 Central Ave, Ely, MN 55731-1223

Value Estimation by Request

1,440 sqft

COMMERCIAL (GENERAL)

Ely, MN 55731

Value Estimation by Request

244 Sheridan St

COMMERCIAL (GENERAL)

244 Sheridan St, Ely, MN 55731-1125

Value Estimation by Request

966 sqft

COMMERCIAL (GENERAL)

1635 Harvey St, Ely, MN 55731

Value Estimation by Request

COMMERCIAL (GENERAL)

17 Chapman St, Ely, MN 55731-1227

Value Estimation by Request

652 sqft

Ely, MN Commercial Real Estate Market Trends and Statistics

Explore 72 commercial real estate for sale in Ely, MN, showcased through 11 active listings on our real estate platform. These investment opportunities span a total of 33,451 square feet of properties for sale, with an estimated market value of $4,641,500.

Sale prices for business properties in Ely, MN start at $299,000, averaging $663,071, and reaching up to $1,800,000 — 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%

High-Yield Neighborhoods for Investment

Identify Ely submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
55731	$545.5K

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

Retail

Office

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