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    Ely, MN Commercial Real Estate for Sale

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    Babbitt, MN Soudan, MN Tower, MN
    10 results
    Downtown Ely Commercial Building
    $300,000
    5,150 SF

    Downtown Ely Commercial Building

    145 E Chapman St, Ely, MN 55731

    Historic 5,000+ sq ft commercial building in downtown Ely.

    • Leased main floor space provides immediate income until April 2027.
    • Prime corner location in the heart of downtown Ely.
    • 5000 sq ft commercial building with 4 separate leasing areas.
    • Major updates including a new roof (2023) and fuel oil boiler (2021).
    • Historic building with original tin ceilings and wood floors.
    Updated: May 13
    View details
    Downtown Ely Commercial Building
    $299,000
    6,900 SF

    Downtown Ely Commercial Building

    29 E Chapman St, Ely, MN 55731

    Two-level, 6,900 SF commercial building in downtown Ely.

    • Prime downtown Ely location.
    • Two levels with separate entrances, suitable for multiple businesses.
    • Large total square footage (6,900 sq ft) with open floor plans on both levels.
    • Main level features a large open space, private room, and two overhead garage doors.
    • Second level includes a stage, kitchen, and private office.
    Updated: Dec 3, 2025
    View details
    Ely Mixed-Use Income Property
    $275,000
    3,768 SF

    Ely Mixed-Use Income Property

    Commercial building with income-generating apartments in high-traffic location.

    120 E Sheridan Street, Ely, MN 55731
    View details
    Ely Commercial/Industrial Opportunity
    $498,500
    720 SF

    Ely Commercial/Industrial Opportunity

    Live and work opportunity in Ely, Minnesota.

    2331 Old Hwy 169, Ely, MN 55731
    View details
    Ely Commercial Live-Work Opportunity
    $498,500
    11.50 Acres

    Ely Commercial Live-Work Opportunity

    Live and work opportunity in Ely, Minnesota with passive income.

    2331 Old Highway 169, Ely, MN 55731
    View details
    Downtown Ely Commercial Building
    $299,000
    6,900 SF

    Downtown Ely Commercial Building

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

    29 E Chapman St, Ely, MN 55731
    View details
    Ely MN Resort on Moose Lake
    $1,800,000

    Ely MN Resort on Moose Lake

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

    14694 Vosburgh Road, Ely, MN 55731
    View details
    Established Ice Business Opportunity
    $349,000
    0.16 Acres

    Established Ice Business Opportunity

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

    442 N 15th Ave E, Ely, MN 55731
    View details
    Commercial Building in Ely's Downtown
    $375,000
    4,200 SF

    Commercial Building in Ely's Downtown

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

    137 E Sheridan St, Ely, MN 55731
    View details
    Mixed-Use Building in Downtown Ely
    $390,000
    8,078 SF

    Mixed-Use Building in Downtown Ely

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

    216 E Sheridan St, Ely, MN
    View details
    Based on your search, we've compiled 403 Potential Opportunities for your consideration. Besides 10 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 389 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.

    Historic Bed & Breakfast Retreat
    $845,000
    1.14 Acres

    Historic Bed & Breakfast Retreat

    Renowned historic bed and breakfast near Lake Vermilion.

    Soudan, MN 55782
    View details
    Bar and Grill Opportunity
    $225,000
    2,840 SF

    Bar and Grill Opportunity

    Bar and grill with outdoor seating on 3.22 acres.

    2667 HWY 70, Babbitt, MN 55731
    View details
    Historic Soudan Bed & Breakfast
    $845,000
    8,994 SF

    Historic Soudan Bed & Breakfast

    Renowned historic bed and breakfast near Lake Vermilion for sale.

    30 Center St., Soudan, MN 55782
    View details
    Babbitt Commercial Property For Sale
    $499,000
    0.60 Acres

    Babbitt Commercial Property For Sale

    Commercial property available for purchase in Babbitt, Minnesota.

    105 Central Boulevard, Babbitt, MN 55706
    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.

    440 15th E Ave

    440 15th E Ave

    COMMERCIAL (GENERAL) • 4,100 SF
    Value Estimation by Request
    440 15th E Ave, Ely, MN 55731-1854
    View details
    106 Sheridan St

    106 Sheridan St

    COMMERCIAL (GENERAL) • 2,452 SF
    Value Estimation by Request
    106 Sheridan St, Ely, MN 55731
    View details
    12007 Riverpoint Rd

    12007 Riverpoint Rd

    HOTEL-RESORT • 5.04 Acres
    Value Estimation by Request
    12007 Riverpoint Rd, Ely, MN 55731
    View details
    14641 Canadian Border Rd

    14641 Canadian Border Rd

    RETAIL STORES (PERSONAL SERVICES) • 1,440 SF
    Value Estimation
    $635,000
    14641 Canadian Border Rd, Ely, MN 55731
    View details
    915 Sheridan St

    915 Sheridan St

    COMMERCIAL (GENERAL) • 9,375 SF
    Value Estimation by Request
    915 Sheridan St, Ely, MN 55731
    View details
    Ely, MN 55731

    Ely, MN 55731

    HOTEL-RESORT
    Value Estimation by Request
    Ely, MN 55731
    View details
    150 Sheridan St

    150 Sheridan St

    COMMERCIAL (GENERAL) • 1,224 SF
    Value Estimation by Request
    150 Sheridan St, Ely, MN 55731-1123
    View details
    419 Sheridan St

    419 Sheridan St

    COMMERCIAL (GENERAL) • 1,050 SF
    Value Estimation by Request
    419 Sheridan St, Ely, MN 55731-1455
    View details
    11 Central Ave

    11 Central Ave

    COMMERCIAL (GENERAL) • 1,440 SF
    Value Estimation by Request
    11 Central Ave, Ely, MN 55731-1223
    View details
    Ely, MN 55731

    Ely, MN 55731

    COMMERCIAL (GENERAL)
    Value Estimation by Request
    Ely, MN 55731
    View details
    244 Sheridan St

    244 Sheridan St

    COMMERCIAL (GENERAL) • 966 SF
    Value Estimation by Request
    244 Sheridan St, Ely, MN 55731-1125
    View details
    1635 Harvey St

    1635 Harvey St

    COMMERCIAL (GENERAL)
    Value Estimation by Request
    1635 Harvey St, Ely, MN 55731
    View details
    17 Chapman St

    17 Chapman St

    COMMERCIAL (GENERAL) • 652 SF
    Value Estimation by Request
    17 Chapman St, Ely, MN 55731-1227
    View details
    302 Sheridan St

    302 Sheridan St

    COMMERCIAL (GENERAL) • 4,214 SF
    Value Estimation by Request
    302 Sheridan St, Ely, MN 55731-1454
    View details

    Ely, MN Commercial Real Estate Investment Opportunities Market Analysis

    Explore 399 commercial real estate for sale in Ely, MN, showcased through 10 active listings on our real estate platform. These investment opportunities span a total of 35,719 square feet of properties for sale, with an estimated market value of $4,236,500.

    Sale prices for business properties in Ely, MN start at $275,000, averaging $529,562, 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 Strategic Investment

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

    Neighborhood Average Price
    55731 $549.3K

    Taxes & Financing

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

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