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    Ely, MN
    Restaurants

    Ely, MN Restaurants for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Coffee Shop and Roasting Operation
    Updated: Jul 13
    Coffee Shop and Roasting Operation

    2 W Sheridan St, Ely, MN 55731

    $979,000
    4,350 sqft 0.07 AC lot
    Business operation spans 2 W. Sheridan St. and 36 W. Sheridan St. in Ely
    Roasting room includes a 5lb Mill City Roaster
    Commercial bakery and kitchen at the 36 W. Sheridan production hub
    Two upper‑level units, each with 1 bedroom and 1 bathroom
    Society Hall offers coworking and event space
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    Improved Restaurant with Patio
    Updated: Sep 9
    Improved Restaurant with Patio

    302 E Sheridan Street, Ely, MN 55731

    $1,100,000
    5,000‑square‑foot restaurant and bar property
    Building, bar, and kitchen improvements completed
    Large patio with outdoor games and live music area
    Commercial kitchen with dining and bar areas
    Central air conditioning and propane forced‑air heating
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    Mixed-Use Property with Coffee Roastery
    Mixed-Use Property with Coffee Roastery

    2 W Sheridan Street, Ely, MN 55731

    $979,000
    4,350 sqft

    The offering combines a production kitchen, two apartments, and space for coworking and events.

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    See hot listings in Ely

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

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    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.

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    Restaurant with Commercial Kitchen
    Restaurant with Commercial Kitchen

    955 E Sheridan St, Ely, MN 55731

    $215,000
    1,900 sqft

    Open-concept dining space features a fireplace, outdoor deck, and landscaped seating area.

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    Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 5 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

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

    Mixed-Use Building with Attached Garage
    Mixed-Use Building with Attached Garage

    602 Main St, Tower, MN 55790

    $290,000
    4,460 sqft

    Multi-level commercial property with leased ground-floor bar and liquor store space, city offices, storage, and additional parking land.

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    Turnkey Conventional Restaurant
    Turnkey Conventional Restaurant

    312 Westover Rd, Hoyt Lakes, MN 55750

    $299,900
    1,800 sqft

    Operating restaurant positioned along regional ATV and snowmobile trail traffic.

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    Operational Restaurant Near Trail Routes
    Operational Restaurant Near Trail Routes

    312 Westover Rd, Hoyt Lakes, MN 55750

    $299,900

    Established dining business with seasonal customer traffic from regional ATV and snowmobile trails.

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    Mixed-Use Property with Attached Garage
    Mixed-Use Property with Attached Garage

    602 Main Street, Tower, MN 55790

    $290,000

    Three-level commercial building with leased bar and liquor store space, city offices, basement storage, and supplemental parking.

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    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.

    14564 Snow Ldg Rd
    BAR, TAVERN

    14564 Snow Ldg Rd, Ely, MN 55731-8293

    Estimated value:
    $740,000
    2,112 sqft 7.60 AC lot
    View details

    Ely, MN Restaurants Market Trends and Statistics

    Explore 6 restaurants for sale in Ely, MN, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 17,400 square feet of properties for sale, with an estimated market value of $3,663,000.

    Sale prices for restaurant properties in Ely, MN start at $215,000, averaging $732,600, and reaching up to $1,100,000 — 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

    Coffee shops 3
    Commercial kitchens 3
    Conventional restaurants 3
    Bars & Pubs 2

    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 $671K

    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)

    How Realmo verifies these figures

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