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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
    Coffee Shop with Roasting and Residential
    Updated: Apr 21
    Coffee Shop with Roasting and Residential

    2 W Sheridan St, Ely, MN 55731

    $979,000
    4,350 sqft 0.07 AC lot
    0.07‑acre lot with 4,350 SF overall building size
    Built in 1910 with a rubber roof
    Two 1‑bedroom, 1‑bath upper residential units with off‑street parking
    Roasting operation includes a 5lb Mill City Roaster
    2 W Sheridan St leased building with bar area, kitchen area, and restrooms
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    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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    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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    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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    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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    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.

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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

    $375,000
    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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    Mixed-Use Property with Attached Garage
    Mixed-Use Property with Attached Garage

    602 Main Street, Tower, MN 55790

    $375,000

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

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    Bar and Grill with Gas Fireplace
    Bar and Grill with Gas Fireplace

    2667 HWY 70, Babbitt, MN 55731

    $199,000

    Bar and grill with outdoor deck seating, a large dining room, and a gas fieldstone fireplace, plus city utilities.

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    Log-Structure Bar & Pub
    Log-Structure Bar & Pub

    8310 Joseph St, Babbitt, MN 55706

    Contact for pricing

    Established hospitality property with a full-service bar, off-sale shop, restaurant operations, and indoor and outdoor event space.

    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

    $740,000
    Estimated value
    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 25,478 square feet of properties for sale, with an estimated market value of $2,563,000.

    Sale prices for restaurant properties in Ely, MN start at $215,000, averaging $640,750, 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
    Conventional restaurants 2
    Commercial kitchens 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 $640.8K

    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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