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    29 E Chapman St Ely, MN 55731

    New
    For Sale
    $299,000

    Commercial/Industrial - Ely, MN

    Property size:
    6,900 SF
    Days on Market:
    3
    Last Refresh:
    Dec 5 at 1:06 pm

    Property Features for 29 E Chapman St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Comm
    APN
    030-0010-01600
    Size
    6,900 SF

    Utilities

    Heating system
    Hot Water (Heating)

    Building Details

    Building materials
    Block
    Roof type
    Flat
    Architectural style
    Other

    Ely Realty (218) 365-2100

    Listing agent Jan Erchul (218) 365-2100

    Listing date Dec 3, 2025

    MLS# 149355 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

    Downtown Ely Commercial Building

    This commercial building is located in downtown Ely. The property features two levels, each offering 3,450 square feet, for a total of 6,900 square feet. The main level includes a private room with tile floors, a large open space also with tile flooring, and two bathrooms. A utility room houses the furnace and electrical system. Additionally, there are two overhead garage doors that could be modified to provide access to the main level from the rear of the building. The second level, most recently used as a billiard hall, features a large open room, a second room with a stage, a kitchen, and two bathrooms. There is also a private room that could serve as an office. A deck or patio area is located at the back of the building. The property has separate private entrances for each level, making it suitable for two separate business ventures. This property offers potential for business use in the heart of downtown Ely.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    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
    -91.866062
    Latitude
    47.902575

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    FAQs

    What type of property is this?
    Retail space - Two-level, 6,900 SF commercial building in downtown Ely.
    Where is this retail space located?
    The property is located at 29 E Chapman St Ely, MN.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - 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.
    (218) 365-2100
    Request Owner's contact information
    29 E Chapman 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
    29 E Chapman St Ely, MN 55731
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