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    Ely, MN
    Quadplex

    Ely, MN Quadplexes for Sale

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    Isabella, MN Babbitt, MN Soudan, MN Tower, MN Embarrass, MN
    Turnkey Restaurant and Apartments
    Updated: Apr 25
    Turnkey Restaurant and Apartments

    216 E Sheridan St, Ely, MN 55731

    $390,000
    6,800 sqft
    Main Street commercial building formerly home to Ely Steak House for almost 30 years.
    Main level includes over 4,000 SF and is fully equipped for restaurant operation.
    Upper level has four apartments for immediate rental income.
    Property includes a total of about 6,800 SF combined restaurant and apartments.
    Flexible layout suited for a range of business concepts, including retail, hospitality, or mixed‑use development.
    View details
    See what stands out in St. Louis County

    We check every for-sale listing in the county against comparable properties across the country. Most price about where you would expect. A few are worth a second look.

    We check every listing here. A few are worth a second look.

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    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 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.

    Quadplex with Attached Garages
    Quadplex with Attached Garages

    1304 Hammond Ave, Superior, WI 54880

    $595,000
    5,921 sqft

    Four heated, insulated attached garages and off-street parking support a versatile quadplex layout with multiple living levels.

    View details
    Updated Four-Unit Quadplex
    Updated Four-Unit Quadplex

    1529 E 5th St, Duluth, MN 55812

    $620,000
    3,050 sqft 0.09 AC lot

    Brick multifamily property with dedicated parking, private storage, and shared laundry facilities.

    View details
    Updated Quadplex With Tuck-Under Garage
    Updated Quadplex With Tuck-Under Garage

    1529 E 5th St, Duluth, MN 55812

    $640,000
    3,050 sqft

    Four-unit building with private storage, dedicated parking, and upgraded mechanical systems.

    View details
    Quadplex With Private Balcony
    Quadplex With Private Balcony

    47 E 4th St, Superior, WI 54880

    Contact for pricing

    Four-unit multifamily property with a second-floor apartment, private balcony, garage, and on-site laundry facilities.

    View details

    Ely, MN Quadplexes Market Trends and Statistics

    Explore 1 quadplexes for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 6,800 square feet of properties for sale, with an estimated market value of $390,000.

    Sale prices for four-unit buildings in Ely, MN average $390,000 — 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

    Apartment buildings 1
    Mobile home & RV parks 1
    Quadplexes 1
    Short term rental properties 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 $390K

    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)

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