137 Sheridan St Ely, MN 55731

Property Details for 137 Sheridan St

Year built

1910

Property size

4,668 SF

Property type

Commercial real estate

APN

030-0010-00770

APU

30001000770

Description

This meticulously maintained commercial building, located at 137 E Sheridan St in Ely, MN, presents a unique investment opportunity. Boasting approximately 4,200 square feet of retail space, this property is situated in Ely's desirable downtown area. Currently housing Pengals Basswood Trading Company, the building offers flexibility for various business ventures. The structure, originally built in the early 1900s, underwent expansions in 1983 and 1987, adding over 1000 square feet to the retail floor. Recent updates include energy-efficient Marvin windows, a durable metal roof, a robust 200-amp, 3-phase 220 electrical system, radiant heat ceiling panels, central air conditioning, a new entry door, new flooring, and updated plumbing. The building also features ample storage and inventory areas, a kitchen, a half-bath, convenient off-street parking, and private offices. The potential exists to restore the second-floor living quarters, creating additional space or residential options. This attractive property, situated on a 0.14-acre lot, has been a successful and beloved business within the Ely community for decades. Priced at $455,000, this property offers a chance to own a piece of Ely's history and establish a thriving business in the heart of the Northwoods.

Location Insight

City

Ely

County

St. Louis

State

Minnesota

Longitude

-91.8644

Latitude

47.9035

CBSA code

20260

CBSA name

DULUTH, MN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments