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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Multi-Building Commercial Property
    Updated: Jul 4
    Multi-Building Commercial Property

    429 E Sheridan St, Ely, MN 55731

    $219,000
    1,362 sqft
    Property with 3 separate buildings: main kit log structure, guest house, and workshop
    Main building features a covered 8' x 22' front porch, loft space, and generous storage for retail, office, or other business use
    Recent main building updates include newer flooring, LP heating, blinds, metal roof, exterior stain, and fencing
    Guest house sleeps up to 8 guests with custom‑built bunk beds and includes a fully equipped kitchen and 3/4 bath
    Guest house improvements include updated electrical, newer cove electric heat, and newly insulated tongue‑and‑groove wood walls
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    This listing looks promising.

    Here's a quick look at some key insights for

    429 E Sheridan St, Ely, MN

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    • Est. Cap Rate

      8.6%
      Above avg (5.9%)

    • Est. NOI

      $19K
      Annual

    • Mortgage

      $65K
      Jul 2016

    • Last Sold

      Jul 2016
      $85K

    • Property Type

      Commercial (General)
      Built 1997
    View Property Analytics
    Mixed-Use Live-Work Building
    Updated: Jul 13
    Mixed-Use Live-Work Building

    133 E Chapman Street, Ely, MN 55731

    $230,000
    Wood frame commercial building with forced air propane heat and an asphalt roof
    Main level offers an open, flexible floor plan suitable for retail or professional office uses
    Upstairs includes a spacious 1‑bedroom apartment with its own private rear entrance
    Apartment features a large rooftop deck
    Off‑street parking available
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    Downtown Ely Commercial Building
    Downtown Ely Commercial Building

    29 E Chapman St, Ely, MN 55731

    $230,000
    6,900 sqft 0.19 AC lot

    Two-level commercial building in downtown Ely with business potential.

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    Turnkey Coffee & Wine Bar Building
    Turnkey Coffee & Wine Bar Building

    2 W Sheridan St, Ely, MN 55731

    $979,000
    4,350 sqft

    Turnkey operation with a roasting room, commercial kitchen, and two 1-bedroom units above the storefront.

    View details
    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 13 Potential Opportunities for your consideration. Besides 4 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 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.

    High-Frontage Retail and Office Building
    High-Frontage Retail and Office Building

    4303 Hwy 53 N, Orr, MN 55771

    $229,000
    2,016 sqft 4.77 AC lot

    Office and retail space with handicap accessibility and 665 feet of Hwy 53 frontage.

    View details
    Live-Work Commercial Building
    Live-Work Commercial Building

    1800 9th Ave N, Virginia, MN 55792

    $129,000

    Commercial building with an upper two-bedroom, one-bath apartment and flexible ground-floor space.

    View details
    Mixed-Use Building with Dental Office
    Mixed-Use Building with Dental Office

    202 S 5th Ave S, Virginia, MN 55792

    $225,000

    Main level dental office includes three treatment rooms, reception area, and secure storage, plus an upstairs three-bedroom apartment.

    View details
    Highway Frontage Retail/Office Space
    Highway Frontage Retail/Office Space

    4303 Hwy 53, Orr, MN 55771

    $229,000
    2,016 sqft

    Retail and office space with high visibility highway frontage.

    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.

    Commercial Land Near Westside Commons
    Commercial Land Near Westside Commons

    Hwy 73, Hibbing, MN 55746

    $149,000

    Commercial land with frontage near Walmart and Westside Commons.

    View details
    Commercial Land with Three-Side Access
    Commercial Land with Three-Side Access

    2802 E 2nd St, Superior, WI 54880

    $87,500
    0.34 AC lot

    Level commercial lot zoned C2, with access on three sides and strong traffic visibility for retail or service development.

    View details
    High-Ground Commercial Development Land
    High-Ground Commercial Development Land

    State Hwy 23 S, Sandstone, MN 55072

    $199,900
    10.00 AC lot

    Developable commercial land with mature Norway pine and high ground near Sandstone, MN.

    View details
    Commercial Development Land Parcel
    Commercial Development Land Parcel

    1st Avenue, Siren, WI 54872

    $42,000
    0.44 AC lot

    Commercial lot in Siren, WI offered with owner financing, suitable for a range of development and business uses.

    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.

    14790 Moose Lk Rd
    OFFICE BUILDING

    14790 Moose Lk Rd, Ely, MN 55731-8291

    $1,000,000
    Estimated value
    8,244 sqft 15.37 AC lot
    View details

    Ely, MN Office Spaces Market Trends and Statistics

    Explore 5 office spaces for sale in Ely, MN, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 12,612 square feet of properties for sale, with an estimated market value of $1,428,000.

    Sale prices for office spaces in Ely, MN start at $219,000, averaging $476,000, and reaching up to $979,000 — 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

    Coworking space 2
    Office Units 2

    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 $470.8K

    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)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in St. Louis County

    Retail

    Office

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