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    Ely, MN
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    Ely, MN Restaurants for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Turnkey Coffee & Wine Bar Building
    Updated: Apr 20
    Turnkey Coffee & Wine Bar Building

    2 W Sheridan St, Ely, MN 55731

    $979,000
    4,350 sqft
    Turnkey business operating at 2 W. Sheridan St. in a leased building plus supporting hub at 36 W. Sheridan St.
    Premier coffee & wine bar at 2 W. Sheridan St., described as a downtown anchor with small‑batch coffee and a wine collection.
    Roasting Room at 36 W. Sheridan St. includes a 5 lb Mill City Roaster and full commercial bakery and kitchen for grab & go menu items.
    Two upper‑level 1‑bedroom, 1‑bath residential units above the 36 W. Sheridan storefront with off‑street parking and garden/gazebo access.
    Society Hall is a professional co‑working and event space at the 36 W. Sheridan location (not currently leased, but can be).
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    Mixed-Use Building in Downtown Ely
    Updated: Aug 1, 2024
    Mixed-Use Building in Downtown Ely

    216 E Sheridan St, Ely, MN

    $390,000
    8,078 sqft 0.14 AC lot
    Prime downtown Ely location on Highways 1/169.
    Multi‑purpose commercial real estate with restaurant and apartments.
    Restaurant space of 4,014 sq. ft. with seating for 150.
    Four residential rental units on the second floor.
    Income potential from 3 out of 4 rented apartment units.
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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 2 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, 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.

    Restaurant and Banquet Facility
    Restaurant and Banquet Facility

    223 Grant Avenue, Eveleth, MN 55734

    $299,500

    Well-maintained restaurant and bar setup with banquet capabilities plus two upstairs apartments.

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    Historic Bar and Apartment Building
    Historic Bar and Apartment Building

    301 Grant Ave, Eveleth, MN 55734

    $79,000

    Historic Iron Range building with bar and apartment in Eveleth.

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    Turn-Key Restaurant Opportunity
    Turn-Key Restaurant Opportunity

    812 7th Ave, Two Harbors, MN

    $749,000
    3,475 sqft 0.25 AC lot

    Restaurant and retail property in high-visibility location.

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    Two Harbors Turn-Key Restaurant Opportunity
    Two Harbors Turn-Key Restaurant Opportunity

    812 7th Ave, Two Harbors, MN 55616

    $749,000
    3,718 sqft

    Turn-key restaurant with retail building and outdoor seating available forpurchase.

    View details

    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.

    Commercial Land with Three-Side Access
    Commercial Land with Three-Side Access

    2802 E 2nd St, Superior, WI 54880

    $87,500
    0.34 AC lot

    Level commercial lot zoned C2, with access on three sides and strong traffic visibility for retail or service development.

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    Commercial Lot in Minong, WI
    Commercial Lot in Minong, WI

    317 W 5th Avenue, Minong, WI 54859

    Contact for pricing
    0.11 AC lot

    Commercial lot in high-traffic area with available utilities.

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    Highway 27 Commercial Lot
    Highway 27 Commercial Lot

    Highway 27 lot: #1, Hayward, WI 54843

    $59,000
    0.47 AC lot

    Commercial lot on Highway 27 in Hayward, Wisconsin.

    View details
    Commercial Development Land Parcel
    Commercial Development Land Parcel

    1st Avenue, Siren, WI 54872

    $42,000
    0.44 AC lot

    Commercial lot in Siren, WI offered with owner financing, suitable for a range of development and business uses.

    View details

    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

    $805,000
    Estimated value
    2,112 sqft 7.60 AC lot
    View details

    Ely, MN Restaurants Market Trends and Statistics

    Explore 3 restaurants for sale in Ely, MN 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 restaurant 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.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Coffee shops 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 $979K

    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

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