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401 Sheridan St Ely, MN 55731

Sponsored
For Sale
$419,900

Historic building, retail & apartment

Description

Added:
Feb 3, 2025
Days on Market:
338
This exceptional mixed-use property at 401 E Sheridan St in Ely, Minnesota presents a unique investment opportunity. The 6,486 square foot free-standing building, constructed in 1913, boasts a rich history and sits on a 0.29-acre lot. Currently configured as a thriving liquor store on the main level, the property also includes a substantial 1,666 square foot basement ideal for storage. Upstairs, a spacious four-bedroom, two-bathroom apartment offers comfortable living with a private deck and the convenience of a detached garage. The C-1 zoning allows for a diverse range of potential uses, including retail, restaurant, lounge/bar, grocery store, or office space, making this a highly versatile investment. Located in the heart of Ely, this property benefits from the town's strong sense of community and its proximity to popular attractions such as the Boundary Waters Canoe Area, the International Wolf Center, and the Ely Arts & Heritage Center. The building's historic charm combined with its prime location and flexible zoning presents an exciting chance to capitalize on Ely's thriving tourism and local economy. This is a rare opportunity to own a piece of Ely's history and shape its future. The asking price is $419,900.

Property Features for 401 Sheridan St

General Information

Property type
Mixed-use properties
Lot Size
12,632 SF

Building Details

Year Built
1913

Property Profile Location Intelligence

Current Use by Public Records

Mike's Drive In Liquor Liquor Store

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Ely
County
St. Louis County
State
Minnesota
Longitude
-91.86076
Latitude
47.90336

FAQs

What type of property is this?
Mixed-use property - Historic building, retail & apartment
Where is this mixed-use property located?
The property is located at 401 Sheridan St Ely, MN.
What is the asking price?
The asking price for this property is $419,900.
More about this property
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