Live-Work Commercial
133 E Chapman St Ely, MN 55731
For Sale
$230,000
Main level offers an open, flexible space, with a private rear-access one-bedroom apartment and off-street parking upstairs.
Property Size2,010 SF
Price / SF$114.43
Days on Market32
Property Features for 133 E Chapman St
General Information
Standard status
Active
Size
2,010 SF
Listing Agency:
Z' Up North Realty
(651) 270-8911
Listed By:
Julian Rasmusson · License #40637100
(651) 270-8911
Source:
Exprealty
Added: Jun 29
Changed: Jul 28
Last Checked: Jul 29 at 1:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Z' Up North Realty
Investment Insights
Based on property information with market context.
This live-work commercial property includes an open, flexible main level suited for a range of business uses. Upstairs, there is a spacious one-bedroom apartment with its own private rear entrance, along with a large rooftop deck and convenient off-street parking.
The property is located on Chapman Street in Ely, MN, offering convenient access for both business and residential use.
For buyers seeking a single property with dual functionality, the layout allows occupancy and income potential through leasing of the apartment and use of the main level.
The property is located on Chapman Street in Ely, MN, offering convenient access for both business and residential use.
For buyers seeking a single property with dual functionality, the layout allows occupancy and income potential through leasing of the apartment and use of the main level.
Key Highlights
- Versatile commercial property on Chapman Street in Ely with flexible main‑level layout for retail or professional office use
- Upstairs features a spacious one‑bedroom apartment with its own private rear entrance
- Apartment includes a large rooftop deck
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $15.00 |
| − Vacancy | −$3.0k | −$1.50 |
| EGI | $27.1k | $13.50 |
| − OpEx | −$8.1k | −$4.05 |
| NOI | $19.0k | $9.45 |
2,010 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$649.8K
$568.5K – $758.1K
NOI $45,483 @ 7.0% cap · market cap 19.78%
Second Best
Office B
$398.3K
$348.5K – $464.7K
NOI $27,882 @ 7.0% cap · market cap 12.12%
Theoretical Best
Specialty Retail
$779.7K
$682.3K – $909.7K
NOI $54,580 @ 7.0% cap · market cap 23.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Live-work space - Main level offers an open, flexible space, with a private rear-access one-bedroom apartment and off-street parking upstairs.
Where is this live-work space located?
The property is located at 133 E Chapman St Ely, MN.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Versatile commercial property on Chapman Street in Ely with flexible main‑level layout for retail or professional office use; Upstairs features a spacious one‑bedroom apartment with its own private rear entrance; Apartment includes a large rooftop deck
