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    Ely, MN
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    Ely, MN Mixed-use Properties for Sale

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    Babbitt, MN Tower, MN Isabella, MN
    Ely Commercial and Income Property
    $275,000
    3,000 SF

    Ely Commercial and Income Property

    120 E Sheridan Street, Ely, MN 55731

    Commercial building with dual rental income potential in Ely, MN.

    • Prime location on Sheridan Street with high traffic exposure.
    • Dual income potential from commercial space and two rentable 1‑bedroom apartments.
    • 3,000+ sq ft commercial building with four large display windows, ideal for retail.
    • Potential to divide retail space into two separate units.
    • Located in a tourism‑rich area near the Boundary Waters.
    Updated: Mar 27
    View details
    Ely Commercial Live-Work Opportunity
    $498,500
    11.50 Acres

    Ely Commercial Live-Work Opportunity

    2331 Old Highway 169, Ely, MN 55731

    Live and work opportunity in Ely, Minnesota with passive income.

    • Established boat storage/rental/servicing business with verifiable financials.
    • Passive income and excellent growth potential in the recreational boating industry.
    • Includes a year‑round 1‑bedroom house (potential for 2nd bedroom) and a 1‑bedroom apartment.
    • Large 4920 sq ft storage building with office, laundry, bath, and indoor boat storage.
    • Located on 11.5 acres with high visibility from Highway 169, near Ely.
    Updated: Jul 13, 2025
    View details
    Based on your search, we've compiled 14 Potential Opportunities for your consideration. Besides 2 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 4 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

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

    Updated Mixed-Use Investment Opportunity
    $950,000
    3,304 SF

    Updated Mixed-Use Investment Opportunity

    Updated mixed-use property with apartments and commercial spaces in Biwabik,MN.

    400 Main S Street, Biwabik, MN 55708
    View details
    Massive Redevelopment Opportunity in Duluth
    $1,595,000
    37,000 SF

    Massive Redevelopment Opportunity in Duluth

    37,000 SF property ready for redevelopment in vibrant neighborhood.

    2032 W Superior St, Duluth, MN 55806
    View details
    Biwabik Mixed-Use Investment Opportunity
    $950,000
    3,304 SF

    Biwabik Mixed-Use Investment Opportunity

    Updated mixed-use property with apartments and commercial spaces in Biwabik, MN.

    400 Main Street S, Biwabik, MN 55708
    View details
    Mixed-Use Property For Sale
    $400,000

    Mixed-Use Property For Sale

    Mixed-use property available for purchase in Duluth, Minnesota.

    1633 Maple Grove Rd, Duluth, MN 55811
    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Bayfield Land with Lake Views
    $949,900
    29.79 Acres

    Bayfield Land with Lake Views

    29.79+/- acres with Lake Superior views and development potential.

    35480 Whitetail Ave, Bayfield, WI 54814
    View details
    Land Near Lake Superior
    Contact for pricing

    Land Near Lake Superior

    Land with lake views and utilities in Ashland, Wisconsin.

    1306 Lake Shore Dr W, Ashland, WI 54806
    View details
    Recreational Land Near Simm's Lake
    Contact for pricing
    0.25 Acres

    Recreational Land Near Simm's Lake

    Land parcel in recreational area near lakes and ATV trails.

    119-xx East County Road Y, Gordon, WI 54838
    View details
    Recreational Land in Gordon, Wisconsin
    Contact for pricing
    0.28 Acres

    Recreational Land in Gordon, Wisconsin

    0.28 acre parcel near lakes and ATV trails.

    119XX E County Rd Y, Gordon, WI 54838
    View details

    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.

    3231 Wolf Lake Rd
    Hotels
    5,250 SF Lot: 20.00 Acres
    Value Estimation by Request

    3231 Wolf Lake Rd, Ely, MN 55731

    View details
    2121 Camp St
    Mixed-use properties
    Lot: 20.00 Acres
    Value Estimation by Request

    2121 Camp St, Ely, MN 55731

    View details
    342 Sheridan St
    Specialty properties
    2,240 SF
    Value Estimation by Request

    342 Sheridan St, Ely, MN 55731

    View details
    401 Sheridan St
    Mixed-use properties
    Lot: 0.29 Acres

    401 Sheridan St, Ely, MN 55731

    View details

    Ely, MN Mixed-Use Properties Investment Opportunities Market Analysis

    Explore 6 mixed-use properties for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 3,000 square feet of properties for sale, with an estimated market value of $275,000.

    Sale prices for multi use buildings in Ely, MN start at $275,000, averaging $275,000, and reaching up to $275,000 — 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

    Live-work space 1

    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 median listing prices of real estate assets

    Neighborhood Average Price
    55731 $386.8K

    Taxes & Financing

    Tax Rate (average for all types) 1.56%
    Property Tax per SF $11.67 per sq ft
    Tax Rate vs County Average 1.02 pp below county avg
    Average Loan-to-Value 65.0%

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