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Ely, MN

Ely, MN Commercial Real Estate for Sale

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Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN

20 properties

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Multi-Building Commercial Property

Updated: Jul 4

Multi-Building Commercial Property

429 E Sheridan St, Ely, MN 55731

$219,000

1,362 sqft

Property with 3 separate buildings: main kit log structure, guest house, and workshop
Main building features a covered 8' x 22' front porch, loft space, and generous storage for retail, office, or other business use
Recent main building updates include newer flooring, LP heating, blinds, metal roof, exterior stain, and fencing
Guest house sleeps up to 8 guests with custom‑built bunk beds and includes a fully equipped kitchen and 3/4 bath
Guest house improvements include updated electrical, newer cove electric heat, and newly insulated tongue‑and‑groove wood walls

This listing looks promising.

Here's a quick look at some key insights for

429 E Sheridan St, Ely, MN

View Property Analytics

Est. Cap Rate

8.6%
Above avg (5.9%)
Est. NOI

$19K
Annual
Mortgage

$65K
Jul 2016
Last Sold

Jul 2016
$85K
Property Type

Commercial (General)
Built 1997

View Property Analytics

Coffee Shop with Roasting and Residential

Updated: Apr 21

Coffee Shop with Roasting and Residential

2 W Sheridan St, Ely, MN 55731

$979,000

4,350 sqft 0.07 AC lot

0.07‑acre lot with 4,350 SF overall building size
Built in 1910 with a rubber roof
Two 1‑bedroom, 1‑bath upper residential units with off‑street parking
Roasting operation includes a 5lb Mill City Roaster
2 W Sheridan St leased building with bar area, kitchen area, and restrooms

Approved Cannabis Retail Property

Approved Cannabis Retail Property

43 E Camp St, Ely, MN 55731

$128,000

7,000 sqft 0.60 AC lot

Downtown commercial building with a partially prepared upper suite and city approval for cannabis retail and lower-potency hemp edibles.

Historic Downtown Storefront Building

Historic Downtown Storefront Building

145 E Chapman St, Ely, MN 55731

$275,000

Corner commercial building with central air, a rubber roof, and multiple leasing areas.

Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

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.

Mixed-Use Live-Work Building

Mixed-Use Live-Work Building

133 E Chapman Street, Ely, MN 55731

$230,000

Open main level retail or office space with an upstairs one-bedroom apartment, private rear entrance, rooftop deck, and off-street parking.

Marina with Boat Storage and Rentals

Marina with Boat Storage and Rentals

2331 Old Hwy 169, Ely, MN 55731

$459,000

Marina-style operation on MU-5 zoned land with year-round guest lodging and indoor and outdoor boat storage.

Retail Building with Apartments

Retail Building with Apartments

120 E Sheridan Street, Ely, MN 55731

$219,000

Commercial building with retail frontage and two 1-bedroom apartments, plus off-street parking and four large display windows.

Freestanding Mixed-Use Building

Freestanding Mixed-Use Building

401 E Sheridan St, Ely, MN 55731

$395,000

4,820 sqft

Freestanding building with operational ground-floor retail and an upstairs four-bedroom apartment with private deck and detached garage.

Live-Work Commercial Property

Live-Work Commercial Property

133 E Chapman St, Ely, MN 55731

$230,000

2,010 sqft

Main level offers an open, flexible space, with a private rear-access one-bedroom apartment and off-street parking upstairs.

Restaurant with Commercial Kitchen

Restaurant with Commercial Kitchen

955 E Sheridan St, Ely, MN 55731

$215,000

1,900 sqft

Open-concept dining space features a fireplace, outdoor deck, and landscaped seating area.

Downtown Ely Commercial Building

Downtown Ely Commercial Building

29 E Chapman St, Ely, MN 55731

$230,000

6,900 sqft 0.19 AC lot

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

Cannabis-Approved Retail Building

Cannabis-Approved Retail Building

43 E Camp St, Ely, MN 55731

$128,000

7,000 sqft

Two-level commercial building with an approved lower-potency hemp edibles and cannabis retail tenant layout.

Natural Log Corner Retail Building

Natural Log Corner Retail Building

1600 E Sheridan St, Ely, MN 55731

$450,000

1,353 sqft

Natural log building on a prominent corner lot, adjacent to a local grocery store.

Turnkey Restaurant and Apartments

Turnkey Restaurant and Apartments

216 E Sheridan St, Ely, MN 55731

$390,000

6,800 sqft

Purchase a fully equipped restaurant space with four apartments above, totaling about 6,800 square feet.

Downtown Ely Commercial Building For Sale

Downtown Ely Commercial Building For Sale

137 E Sheridan St, Ely, MN 55731

$370,000

4,200 sqft 0.14 AC lot

Meticulously maintained retail space with investment and conversion potential.

Retail Building with Dual Income

Retail Building with Dual Income

120 E Sheridan Street, Ely, MN 55731

$219,000

2,994 sqft

Commercial building offers four display windows, off-street parking, divisible retail, and two 1-bedroom apartments.

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.

Mixed-Use Building in Downtown Ely

Mixed-Use Building in Downtown Ely

216 E Sheridan St, Ely, MN

Contact for pricing

8,078 sqft 0.14 AC lot

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

Modern Fuel Station with Repair Bays

Modern Fuel Station with Repair Bays

3 E Sheridan St, Ely, MN 55731

$265,000

1,200 sqft

Fuel sales, automotive service, tire sales, compressed air, and propane filling support multiple on-site revenue functions.

Based on your search, we've compiled Potential Opportunities for your consideration. Besides 20 Active Listings in Ely, MN, we suggest to view alternatives - similar 52 Off-Market properties to explore as potential leads.

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.

440 15th E Ave

COMMERCIAL (GENERAL)

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

$255,000

Estimated value

4,100 sqft 1.07 AC lot

106 Sheridan St

COMMERCIAL (GENERAL)

106 Sheridan St, Ely, MN 55731

$330,000

Estimated value

2,452 sqft

12007 Riverpoint Rd

HOTEL-RESORT

12007 Riverpoint Rd, Ely, MN 55731

$215,000

Estimated value

5.04 AC lot

14641 Canadian Border Rd

RETAIL STORES (PERSONAL SERVICES)

14641 Canadian Border Rd, Ely, MN 55731

$580,000

Estimated value

1,440 sqft 7.62 AC lot

Ely, MN Commercial Real Estate Market Trends and Statistics

Explore 72 commercial real estate for sale in Ely, MN, showcased through 20 active listings on our real estate platform. These investment opportunities span a total of 64,317 square feet of properties for sale, with an estimated market value of $6,729,000.

Sale prices for business properties in Ely, MN start at $128,000, averaging $354,157, and reaching up to $979,000 — 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	$412.9K

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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