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Ely, MN

Land

Ely, MN Land for Sale

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8 properties

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Burntside Lake 5-Acre Parcel

Updated: May 26

Burntside Lake 5-Acre Parcel

Waters Island, Ely, MN 55731

$945,000

5.30 AC lot

5‑acre parcel on Waters Island, Burntside Lake's largest and most central island.
South and west‑facing exposure with stunning views of the Boundary Waters Wilderness.
Private setting with level building sites** among Norway pines and a granite bluff.
Secluded bay ideal for swimming and sheltered boat mooring.
Includes mainland dock with parking and short driveway access.

Burntside Lake 5-Acre Island Parcel

Updated: May 20, 2025

Burntside Lake 5-Acre Island Parcel

Waters Island, Ely, MN 55731

$945,000

5.30 AC lot

5‑acre parcel on Waters Island, Burntside Lake: Offers a large, private property on a central island of a highly desirable lake.
South and west facing exposure with breathtaking views of the lake and Boundary Waters Wilderness.
Private bay for swimming and boating: Includes a secluded bay ideal for recreational water activities.
Multiple level building sites feature easily accessible and level areas suitable for construction among mature pines.
Mainland dock with parking includes a dedicated mainland dock with a spacious parking area and easy access.

Fall Lake Waterfront Homesite

Fall Lake Waterfront Homesite

417 Barrell Road, Ely, MN 55731

$274,500

2.80 AC lot

2.8 acres on Fall Lake, near Boundary Waters Canoe Area.

See hot listings in Ely

Scored against comparables nationwide. These are worth a look.

Scored against comparables nationwide. These are worth a look.

Cap Rate available after sign in

Est. NOI available after sign in

Local Demand available after sign in

Lakeside Resort Property

Lakeside Resort Property

474 Kawishiwi Trl, Ely, MN 55731

$2,800,000

3,680 sqft

Resort property with lodging, outfitting facilities, and direct canoe access to the Boundary Waters Canoe Area Wilderness.

Wooded Waterfront Homesite

Wooded Waterfront Homesite

417 Barrel Road, Ely, MN 55731

$274,500

2.80 AC lot

A private, surveyed 2.8-acre south-shore lot with power at the road, reviewed septic site, and 205 feet of shoreline.

Elevated Waterfront Land Parcel

Elevated Waterfront Land Parcel

3506 Hanson Lake Rd, Ely, MN 55731

$500,000

3.90 AC lot

Waterfront land with elevated west-facing shoreline and surveyed approval for septic.

Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Turnkey Waterfront Recreation Lot

Turnkey Waterfront Recreation Lot

2148 Haapala Rd, Ely, MN 55731

$149,000

5.00 AC lot

A ready-to-build 5-acre parcel with cleared site, driveway, private well, power, septic, and water hookups.

Waterfront Land with Lake Access

Waterfront Land with Lake Access

1 Fernberg Road, Ely, MN 55731

$171,325

Surveyed parcel offers septic-approved sites, utility availability, and a developed road to the property edge.

Based on your search, we've compiled 57 Potential Opportunities for your consideration. Besides 8 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 45 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Northwoods Waterfront Wilderness Land

Northwoods Waterfront Wilderness Land

3XXX County Road 904, Babbitt, MN 55706

$750,000

125.00 AC lot

Approximately 125 acres with about 1,800 feet of private shoreline on Joseph Lake, plus two non-lakefront lots.

Land, Tower, MN

Land, Tower, MN

Armstrong Bay Road, Tower, MN 55790

$425,000

3.44 AC lot

Residential land & home lots · 3.44 Acres

Lake Vermilion Waterfront Land

Lake Vermilion Waterfront Land

Pine Narrows lot: 10, Tower, MN 55790

$189,000

6.00 AC lot

6-acre waterfront land with 821 ft shoreline on Lake Vermilion.

LOTS/LAND, Babbitt, MN

LOTS/LAND, Babbitt, MN

Tract B Hwy 21, Babbitt, MN 55706

$50,000

4.00 AC lot

Residential land & home lots · 4.00 Acres

Off-Market Properties in Ely, MN

Consider similar Off-Market properties in Ely, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Ely, MN 55731

INDUSTRIAL - VACANT LAND

Ely, MN 55731

Estimated value:

$400,000

1.49 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$240,000

0.23 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$255,000

0.10 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$245,000

0.21 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$85,000

0.09 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$2,990,000

0.06 AC lot

10 Pattison St

VACANT COMMERCIAL LAND

10 Pattison St, Ely, MN 55731-1357

Estimated value:

$340,000

0.02 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$855,000

0.01 AC lot

Ely, MN 55731

INDUSTRIAL - VACANT LAND

Ely, MN 55731

Estimated value:

$260,000

0.56 AC lot

Ely, MN 55731

INDUSTRIAL - VACANT LAND

Ely, MN 55731

Estimated value:

$250,000

3.79 AC lot

Ely, MN 55731

INDUSTRIAL - VACANT LAND

Ely, MN 55731

Estimated value:

$255,000

4.19 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value: by Request

1106 Kawishiwi Trl

INDUSTRIAL - VACANT LAND

1106 Kawishiwi Trl, Ely, MN 55731-0009

Estimated value:

$265,000

14.39 AC lot

Ely, MN 55731

VACANT COMMERCIAL LAND

Ely, MN 55731

Estimated value:

$250,000

0.15 AC lot

1371 Old Airport Rd

INDUSTRIAL - VACANT LAND

1371 Old Airport Rd, Ely, MN 55731

Estimated value:

$280,000

40.00 AC lot

Ely, MN 55731

INDUSTRIAL - VACANT LAND

Ely, MN 55731

Estimated value:

$280,000

36.00 AC lot

Ely, MN Land Market Trends and Statistics

Explore 53 land for sale in Ely, MN, showcased through 8 active listings on our real estate platform. These investment opportunities span a total of 1,097,036 square feet of properties for sale, with an estimated market value of $6,059,325.

Sale prices for lots in Ely, MN start at $149,000, averaging $757,415, and reaching up to $2,800,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 5,292

Population Growth (5Y) -10.5%

Median Household Income $62,900

College Educated 54.0%

High-Yield Neighborhoods for Investment

Identify Ely submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
55731	$628.4K

Taxes & Financing

Tax Rate (average for all types) 1.56%

Property Tax per SF $11.67 per SF

Tax Rate vs County Average 1.02 pp below county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in St. Louis County

New Delisted

Total CRE Inventory on Market (SF)

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