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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
    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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    Wooded Waterfront Homesite
    Updated: Apr 30
    Wooded Waterfront Homesite

    417 Barrel Road, Ely, MN 55731

    $347,000
    2.80 AC lot
    2.8 wooded acres on the south shore of Fall Lake with lake views up the shoreline
    205 ft shoreline with access to the BWCA entry waterway and boat ride about 2 miles to the BWCA
    Power available at the road
    Surveyed property with choice of building sites and gradual elevation to the water
    Site reviewed for septic
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    Burntside Lake 5-Acre Island Parcel
    Burntside Lake 5-Acre Island Parcel

    Waters Island, Ely, MN 55731

    $945,000
    5.30 AC lot

    Spectacular Burntside Lake property with south and west facing exposure.

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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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    Based on your search, we've compiled 8 Potential Opportunities for your consideration. Besides 4 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.

    View details
    Lake Vermilion Island Land
    Lake Vermilion Island Land

    Meyers Island, Lake Vermilion, Tower, MN 55790

    $195,000
    1.54 AC lot

    1.54 acre island lot with 950' lake frontage.

    View details
    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.

    View details
    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.

    View details

    Ely, MN Waterfront Land Market Trends and Statistics

    Explore 4 waterfront land for sale in Ely, MN, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 0 square feet of properties for sale, with an estimated market value of $2,584,000.

    Sale prices for water rights properties in Ely, MN start at $347,000, averaging $646,000, 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 4
    Recreation land 2
    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 $646K

    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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