401 Sheridan St Ely, MN 55731
- Mixed-use properties
- 0.29 lot acres
Current Use by Public Records
- Mike's Drive In Liquor / Liquor Store / Cigar Shop
Property Details for 401 Sheridan St
- Year built
- 1913
- Lot size
- 0.29 lot acres
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property at 401 E Sheridan St in Ely, Minnesota presents a unique investment opportunity. The 6,486 square foot free-standing building, constructed in 1913, boasts a rich history and sits on a 0.29-acre lot. Currently configured as a thriving liquor store on the main level, the property also includes a substantial 1,666 square foot basement ideal for storage. Upstairs, a spacious four-bedroom, two-bathroom apartment offers comfortable living with a private deck and the convenience of a detached garage. The C-1 zoning allows for a diverse range of potential uses, including retail, restaurant, lounge/bar, grocery store, or office space, making this a highly versatile investment. Located in the heart of Ely, this property benefits from the town's strong sense of community and its proximity to popular attractions such as the Boundary Waters Canoe Area, the International Wolf Center, and the Ely Arts & Heritage Center. The building's historic charm combined with its prime location and flexible zoning presents an exciting chance to capitalize on Ely's thriving tourism and local economy. This is a rare opportunity to own a piece of Ely's history and shape its future. The asking price is $419,900.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ely
- County
- St. Louis County
- State
- Minnesota
- Longitude
- -91.86076
- Latitude
- 47.90336
