Realmo

Buy
- For Sale
- Post a Listing
Property Types
- Retail
  
  Automotive
  
  Storefront
- Office
  
  Office Units
  
  Live - Work Space
- Residential Income
  
  Multifamily
  
  Duplex
- Restaurants
  
  Coffee shop
  
  Bar & Pub
- Mixed-Use
- Hospitality
  
  Resort
- Land
  
  Residential
  
  Recreation
  
  Waterfront
  
  Hunting
- Parking & Garage
- Specialty
  
  Marina
Rent
Analytics
- Analytics Center
- Insight Report
- Recently Sold
- Value Estimation
- Cap Rate
- Ownership Records
- Location Intelligence
- Business Placement
- Off-Market Leads
- Zoning Insight

Advertise Sign In

For Sale
- Retail
  - Automotive
  - Storefront
- Office
  - Office Units
  - Live - Work Space
- Residential Income
  - Multifamily
  - Duplex
- Restaurants
  - Coffee shop
  - Bar & Pub
- Mixed-Use
- Hospitality
  - Resort
- Land
  - Residential
  - Recreation
  - Waterfront
  - Hunting
- Parking & Garage
- Specialty
  - Marina
For Lease
Analytics Center
Insight Report
Recently Sold
Value Estimation
Cap Rate
Ownership Records
Location Intelligence
Business Placement
Off-Market Leads
Zoning Insight
Advertise
Find Brokers

Ely, MN

Residential Income

Ely, MN Residential Income Properties for Sale

List

Map

Isabella, MN Babbitt, MN Tower, MN

Mixed-Use Retail and Apartment Building

Updated: Jul 1

Mixed-Use Retail and Apartment Building

120 E Sheridan Street, Ely, MN 55731

$229,000

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.

Mixed-Use Live-Work Building

Updated: Jun 29

Mixed-Use Live-Work Building

133 E Chapman Street, Ely, MN 55731

$230,000

Wood frame commercial building with asphalt roof and forced‑air propane heating
Main level has an open, flexible floor plan suited for retail, professional office, boutique, studio, or other business uses
Upstairs includes a one‑bedroom apartment with its own private rear entrance
Upstairs apartment features a large rooftop deck
Off‑street parking included

Turnkey Coffee & Wine Bar Building

Turnkey Coffee & Wine Bar Building

2 W Sheridan St, Ely, MN 55731

$979,000

4,350 sqft

Turnkey operation with a roasting room, commercial kitchen, and two 1-bedroom units above the storefront.

Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, 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

$390,000

8,078 sqft · 0.14 AC lot

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

Based on your search, we've compiled 16 Potential Opportunities for your consideration. Besides 4 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.

Mixed-Use Dental Office and Apartment

Mixed-Use Dental Office and Apartment

202 S 5th Ave S, Virginia, MN 55792

$225,000

Well-maintained dental office on the main level with a three-bedroom apartment above and off-street parking for up to 10 vehicles.

Mixed-Use Property in Tower, MN

Mixed-Use Property in Tower, MN

507 Main Street, Tower, MN 55790

$159,000

Commercial property with residential living quarters in a prime location.

Co-op RV Park Interest

Co-op RV Park Interest

TBD #15 Lake Ave, Tower, MN 55790

$49,000

0.04 AC lot

Purchase an undivided co-op interest with access to a boat slip and nearby channel docks.

Two-Unit One-Bedroom Duplex

Two-Unit One-Bedroom Duplex

201 2nd Street S, Virginia, MN 55792

$99,900

1,894 sqft · 0.09 AC lot

Split upper and main duplex offers two updated one-bedroom units with in-unit comfort, laundry access, and parking off the alley.

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.

APARTMENT HOUSE (5+ UNITS)

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

Value Estimation by Request

4,476 sqft

APARTMENT HOUSE (5+ UNITS)

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

Value Estimation by Request

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

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 8 residential income properties for sale in Ely, MN, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 12,428 square feet of properties for sale, with an estimated market value of $1,369,000.

Sale prices for residential income properties in Ely, MN start at $390,000, averaging $684,500, and reaching up to $979,000 — 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	$494.7K

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

Retail

Office

Need Help?

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

Popular Categories

Most Searched ZIP Codes in Ely, MN

55731