1311 Sheridan St Ely, MN 55731-1750

Property Details for 1311 Sheridan St

Year built

1983

Property size

2,082 SF

Property type

Commercial real estate

APN

030-0352-00210

APU

30035200210

Description

This exceptional multi-unit commercial building, located at 1311 E Sheridan St in Ely, Minnesota, presents a rare investment opportunity. Situated on a highly visible 0.29-acre lot on Ely's main street, the property offers ample parking with over 20 spaces. The 3480 square foot building currently houses a thriving thrift shop and a long-established hair salon, both boasting excellent rental history and long-term tenants. Recent extensive renovations have significantly enhanced the property's value and appeal. These upgrades include a completely repainted exterior, a new rubber roof, two new forced-air furnaces, a new water heater, updated flooring throughout much of the building, and energy-efficient new LED lighting. New windows have been installed, improving both energy efficiency and aesthetics. A third unit has also undergone a complete transformation, featuring new ceiling tiles, fresh paint, new carpeting, and a newly renovated bathroom with a new toilet and sink. This turnkey investment offers immediate income potential and significant long-term growth prospects. The property's prime location, substantial parking, and recent renovations make it an ideal acquisition for discerning investors seeking a stable and profitable commercial venture in a desirable Minnesota community. Don't miss this chance to own a piece of Ely's thriving commercial landscape.

Location Insight

City

Ely

County

St. Louis

State

Minnesota

Longitude

-91.8469

Latitude

47.9035

CBSA code

20260

CBSA name

DULUTH, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments