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    120 E Sheridan St Ely, MN 55731

    For Sale
    $285,000

    Commercial/Industrial - Ely, MN

    Property size:
    3,768 SF
    Days on Market:
    88
    Last Refresh:
    Dec 5 at 12:06 am

    Property Features for 120 E Sheridan St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    com
    Rooms
    Basement
    APN
    030-0010-01100
    Parking
    5
    Basement Y/N
    1
    Size
    3,768 SF

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1910
    Roof type
    Flat
    Architectural style
    Other

    Z' Up North Realty (218) 827-2288

    Listing agent Andrea Zupancich (218) 827-2288

    Listing date Sep 9, 2025

    MLS# 148955 Listing URL

    Copyright © 2025 Range Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ely Commercial Property with Income

    Located on Sheridan Street in Ely, Minnesota, this commercial property offers significant traffic exposure and dual rental potential. The building, with over 3,000 square feet, is situated on Ely’s principal business corridor and features four large display windows suitable for showcasing merchandise. The property is surrounded by shops, outfitters, galleries, and eateries, attracting both local residents and tourists visiting the Boundary Waters Canoe Area Wilderness, state parks, resorts, and other outdoor recreation destinations. Sheridan Street sees approximately 7,700 vehicles per day, driven by Ely’s strong tourism. In addition to the commercial space, the property includes two rentable one-bedroom apartments, providing extra income. The retail space can be divided into two separate units, making it ideal for multiple tenants or increased rental turnover. The property also features plenty of off-street parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Cabin Gift Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ely
    County
    St. Louis
    State
    Minnesota
    Longitude
    -91.864773
    Latitude
    47.903041

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    FAQs

    What type of property is this?
    Retail space - Commercial building with high traffic and dual rental income.
    Where is this retail space located?
    The property is located at 120 E Sheridan St Ely, MN.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: - High-traffic location on Sheridan Street (7,700 vehicles/day) in Ely's main business corridor, ideal for attracting customers.; - Dual income potential from commercial space and two rentable 1-bedroom apartments.; - Versatile commercial space divisible into two separate units for multiple tenants or increased rental income.
    (218) 827-2288
    Request Owner's contact information
    120 E Sheridan St Ely, MN 55731
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    Ely, MN 55731
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    120 E Sheridan St Ely, MN 55731
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