Realmo

Buy
- For Sale
- Post a Listing
Property Types
- Retail
  
  Automotive
  
  Gas Station
  
  Auto Shop
  
  Storefront
- Office
  
  Office Units
  
  Live - Work Space
- Residential Income
  
  Multifamily
  
  Duplex
  
  Quadplex
  
  Short Term Rental
- Restaurants
  
  Conventional Restaurant
  
  Coffee shop
- Warehouse
- Mixed-Use
- Hospitality
  
  Resort
- Land
  
  Residential
  
  Recreation
  
  Waterfront
  
  Hunting
- Agricultural
  
  Cannabis Properties
- Specialty
  
  Marina
Rent
Analytics
- Analytics Center
- Value Estimation
- Cap Rate
- Ownership Records
- Zoning Insight
- Location Intelligence
- Business Placement
- Recently Sold
- Off-Market Leads

Advertise Sign In

For Sale
- Retail
- Office
  - Office Units
  - Live - Work Space
- Residential Income
- Restaurants
  - Conventional Restaurant
  - Coffee shop
- Warehouse
- Mixed-Use
- Hospitality
  - Resort
- Land
  - Residential
  - Recreation
  - Waterfront
  - Hunting
- Agricultural
  - Cannabis Properties
- Specialty
  - Marina
For Lease
Analytics Center
Value Estimation
Cap Rate
Ownership Records
Zoning Insight
Location Intelligence
Business Placement
Recently Sold
Off-Market Leads
Advertise
Find Brokers

Ely, MN

Residential Income

Ely, MN Residential Income Properties for Sale

List

Map

Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN

Multi-Building Commercial Property

Updated: Jul 4

Multi-Building Commercial Property

429 E Sheridan St, Ely, MN 55731

$219,000

1,362 sqft

Property with 3 separate buildings: main kit log structure, guest house, and workshop
Main building features a covered 8' x 22' front porch, loft space, and generous storage for retail, office, or other business use
Recent main building updates include newer flooring, LP heating, blinds, metal roof, exterior stain, and fencing
Guest house sleeps up to 8 guests with custom‑built bunk beds and includes a fully equipped kitchen and 3/4 bath
Guest house improvements include updated electrical, newer cove electric heat, and newly insulated tongue‑and‑groove wood walls

This listing looks promising.

Here's a quick look at some key insights for

429 E Sheridan St, Ely, MN

View Property Analytics

Est. Cap Rate

8.6%
Above avg (5.9%)
Est. NOI

$19K
Annual
Mortgage

$65K
Jul 2016
Last Sold

Jul 2016
$85K
Property Type

Commercial (General)
Built 1997

View Property Analytics

Retail Building with Apartments

Updated: Jul 19

Retail Building with Apartments

120 E Sheridan Street, Ely, MN 55731

$219,000

Prime location on Sheridan Street with high traffic exposure.
Dual income potential from commercial space and two rentable 1‑bedroom apartments.
3,000+ sq ft commercial building with four large display windows, ideal for retail.**
Potential to divide retail space into two separate units.
Located in a tourism‑rich area near the Boundary Waters.

Turnkey Restaurant and Apartments

Turnkey Restaurant and Apartments

216 E Sheridan St, Ely, MN 55731

$390,000

6,800 sqft

Purchase a fully equipped restaurant space with four apartments above, totaling about 6,800 square feet.

Retail Building with Dual Income

Retail Building with Dual Income

120 E Sheridan Street, Ely, MN 55731

$219,000

2,994 sqft

Commercial building offers four display windows, off-street parking, divisible retail, and two 1-bedroom apartments.

Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center

Mixed-Use Building in Downtown Ely

Mixed-Use Building in Downtown Ely

216 E Sheridan St, Ely, MN

Contact for pricing

8,078 sqft 0.14 AC lot

Two-story building with restaurant and four apartments in Ely.

Based on your search, we've compiled 17 Potential Opportunities for your consideration. Besides 5 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 4 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Seven-Bedroom Duplex

Seven-Bedroom Duplex

824 13th St. N, Virginia, MN 55792

$71,900

1,496 sqft

Residential income property with R zoning and a required three-property sale structure.

Fully Rented Multifamily Property

Fully Rented Multifamily Property

824 13th St N, Virginia, MN 55792

$71,900

1,496 sqft

Currently leased and offered only as part of a three-property package with two nearby Virginia properties.

RV Resort Cooperative Lot with Boat Slip

RV Resort Cooperative Lot with Boat Slip

TBD 24 Lake Ave S, Tower, MN 55790

$49,900

0.05 AC lot

Cooperative RV lot with lake access, a boat slip, and on-site water, sewer, and 50-amp service.

Historic Mixed-Use Building

Historic Mixed-Use Building

601 Main St, Tower, MN 55790

$339,900

Two commercial suites and three upper-level apartments occupy a flexible building with storage, basement, garage, and shop space.

Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

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.

Lake Vermilion Road Access Building Lot

Lake Vermilion Road Access Building Lot

Armstrong Bay Road, Tower, MN 55790

$474,500

3.44 AC lot

3.4 acre building lot with 240 ft shoreline.

Lake Vermilion Waterfront Land

Lake Vermilion Waterfront Land

Pine Narrows lot: 10, Tower, MN 55790

$189,000

6.00 AC lot

6-acre waterfront land with 821 ft shoreline on Lake Vermilion.

Lake Vermilion Building Lot

Lake Vermilion Building Lot

5773 Lake Vermilion N, Tower, MN 55790

$124,500

4.60 AC lot

4.6 acre lot with 250 ft shoreline on Lake Vermilion.

Off-Market Properties in Ely, MN

Consider similar Off-Market properties in Ely, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

127 1st E Ave

APARTMENT HOUSE (5+ UNITS)

127 1st E Ave, Ely, MN 55731-1261

$285,000

Estimated value

4,476 sqft

338 4th E Ave

APARTMENT HOUSE (5+ UNITS)

338 4th E Ave, Ely, MN 55731-1553

$130,000

Estimated value

2,320 sqft

100 2nd W Ave, Unit 2

APARTMENT HOUSE (5+ UNITS)

100 2nd W Ave, Ely, MN 55731-1168

Unit 2

$1,175,000

Estimated value

9,990 sqft

2121 Camp St

Mixed-use properties

2121 Camp St, Ely, MN 55731

Value Estimation by Request

20.00 AC lot

Ely, MN Residential Income Properties Market Trends and Statistics

Explore 9 residential income properties for sale in Ely, MN, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 19,234 square feet of properties for sale, with an estimated market value of $1,047,000.

Sale prices for residential income properties in Ely, MN start at $219,000, averaging $261,750, and reaching up to $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.

List

Map

Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

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	$405.2K

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

Office

Need Help?

Reach out if you need assistance with Realmo tools or have questions about your listings

Contact Us

Popular Categories

Most Searched ZIP Codes in Ely, MN

55731