Downtown Ely Commercial
For Sale
$230,000
29 E Chapman St, Ely, MN 55731
Two-level commercial building in downtown Ely with business potential.
Property Size6,900 SF
Lot Size0.19 Acres
Price / SF$33.33
Days on Market207
Property Features for 29 E Chapman St
General Information
Standard status
Active
Size
6,900 SF
Lot size
0.19 Acres
Taxes and HOA fees
Annual Taxes
$2,753
Listing Agency:
Ely Realty
(218) 365-2100
Listed By:
Janet Erchul · License #40403900
(218) 365-2100
Source:
Exprealty
Added: Jan 26
Changed: Aug 20
Last Checked: Aug 20 at 12:17PM
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 Ely Realty
Investment Insights
Based on property information with market context.
Located in downtown Ely, this commercial building offers two levels, each with 3,450 square feet, totaling 6,900 square feet. The main level features two private rooms with tile floors, a large open space also with tile flooring, and two bathrooms. A utility room houses the furnace and electrical system. Two overhead garage doors could be reworked to provide access to the main level from the back of the building. The second level, previously used as a billiard hall, includes a large open room, a second room with a stage, a kitchen, and two bathrooms. Additionally, there is a private room suitable for an office. A deck/patio area is located at the back of the building. Separate private entrances for each level allow for two distinct business operations. This property is located in the heart of downtown Ely.
Key Highlights
- Prime downtown Ely location.
- Two levels with separate entrances suitable for multiple businesses.
- Large open spaces on both levels (3,450 sq ft each).
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 55731, MN
5,494
Population
4,954
Households
1.1
Avg Household Size
54
Median Age
41%
College-Educated
94%
High-School Grad
1,606.7 sq mi
ZIP Area
3
Density / Sq Mi
$62,900
Median Household Income
$31,840
Median Earnings
$641
Median Rent
$202,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two-level commercial building in downtown Ely with business potential.
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 $230,000.
What are key features of this property?
This property features: Prime downtown Ely location.; Two levels with separate entrances suitable for multiple businesses.; Large open spaces on both levels (3,450 sq ft each).
