120 E Sheridan Street Ely, MN 55731

This mixed-use building offers a commercial space designed for storefront presentation and income support. The property includes four large display windows and off-street parking, with retail that can be divided into two separate units. In addition to the retail component, the building has two rentable 1-bedroom apartments, creating dual rental potential. The commercial building is available for the first time and totals 3,000+ square feet.

Located on Sheridan Street in Ely, the property sits on the community’s principal business corridor. Public remarks indicate approximately 7,700 vehicles per day along this route, supported by tourism traffic tied to Boundary Waters Canoe Area Wilderness, state parks, resorts, and outdoor recreation destinations. The building is surrounded by shops, outfitters, galleries, and eateries.

For tenants, this configuration can support a single retail use or multiple tenants, with the flexibility that comes from a space that may be split into two units. For owner-operators or investors, the on-site residential component provides income diversification alongside retail operations. The combination of visible storefront windows, convenient parking, and the ability to accommodate more than one tenant makes the property practical for a range of retail and small mixed-use strategies.