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    Ely, MN
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    Ely, MN Waterfront Land for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    6 properties
    Burntside Lake 5-Acre Parcel
    Updated: Sep 6, 2025
    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.
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    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.
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    Fall Lake Waterfront Homesite
    Fall Lake Waterfront Homesite

    417 Barrell Road, Ely, MN 55731

    $347,000
    2.80 AC lot

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

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    Elevated Waterfront Land Parcel
    Elevated Waterfront Land Parcel

    3506 Hanson Lake Rd, Ely, MN 55731

    $550,000
    3.90 AC lot

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

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    Wooded Waterfront Homesite
    Wooded Waterfront Homesite

    417 Barrel Road, Ely, MN 55731

    $347,000
    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.

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    Turnkey Waterfront Recreation Lot
    Turnkey Waterfront Recreation Lot

    2148 Haapala Rd, Ely, MN 55731

    $159,000
    5.00 AC lot

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

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    Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 6 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

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

    Tower, MN Waterfront Land Parcel
    Tower, MN Waterfront Land Parcel

    5248 Ely Island S, Tower, MN 55790

    $195,000
    5.19 AC lot

    5.19 acres with 495' of south-facing lakeshore.

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    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.

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    Lake Vermilion Building Lot
    Lake Vermilion Building Lot

    5773 N Lake Vermilion, Tower, MN 55790

    $124,500
    4.60 AC lot

    4.6 acre waterfront land near Boundary Waters Canoe Area.

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    Lake Vermilion Road Access Land
    Lake Vermilion Road Access Land

    E Armstrong Bay Road, Tower, MN 55790

    $474,500
    3.44 AC lot

    3.4 acre lot with 240 ft shoreline.

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    Ely, MN Waterfront Land Market Trends and Statistics

    Explore 6 waterfront land for sale in Ely, MN, showcased through 6 active listings on our real estate platform. These investment opportunities span a total of 1,093,356 square feet of properties for sale, with an estimated market value of $3,293,000.

    Sale prices for water rights properties in Ely, MN start at $159,000, averaging $548,833, and reaching up to $945,000 — 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

    Waterfront Land 7
    Recreation land 4
    Residential land & home lots 2
    Hunting land 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 average listing prices of real estate assets

    Neighborhood Average Price
    55731 $569K

    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

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