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Ely, MN

Retail

Ely, MN Retail Properties & Spaces for Sale

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

8 properties

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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

Downtown Corner Retail Building

Updated: Jul 10

Downtown Corner Retail Building

145 E Chapman St, Ely, MN 55731

$285,000

Prime downtown Ely location on a high visibility corner lot.
Leased main floor space provides immediate income until April 2027.
Substantial recent updates including a new roof (2023) and fuel oil boiler (2021).
Historic building (built in 1920) with original tin ceilings and wood floors in the leased space.
5000 sq ft commercial building with 4 separate leasing areas.

Cannabis Retail Building with Parking

Cannabis Retail Building with Parking

43 E Camp St, Ely, MN 55731

$165,000

7,000 sqft 0.60 AC lot

Approved for cannabis retail and hemp edibles, with a lower level private entrance and dedicated parking lot.

Mixed-Use Live-Work Building

Mixed-Use Live-Work Building

133 E Chapman Street, Ely, MN 55731

$230,000

Open main level retail or office space with an upstairs one-bedroom apartment, private rear entrance, rooftop deck, and off-street parking.

Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center

Freestanding Mixed-Use Building

Freestanding Mixed-Use Building

401 E Sheridan St, Ely, MN 55731

$395,000

4,820 sqft

Freestanding building with operational ground-floor retail and an upstairs four-bedroom apartment with private deck and detached garage.

Retail Building with Apartments

Retail Building with Apartments

120 E Sheridan Street, Ely, MN 55731

$219,000

Commercial building with retail frontage and two 1-bedroom apartments, plus off-street parking and four large display windows.

Downtown Ely Commercial Building

Downtown Ely Commercial Building

29 E Chapman St, Ely, MN 55731

$230,000

6,900 sqft 0.19 AC lot

Two-level commercial building in downtown Ely with business potential.

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 20 Potential Opportunities for your consideration. Besides 8 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.

Highway Frontage Commercial Opportunity

Highway Frontage Commercial Opportunity

110 Hwy. 53, Cook, MN 55723

$129,900

0.45 AC lot

Commercial property with highway frontage, former car wash, and residence.

Mesaba Drug Store For Sale

Mesaba Drug Store For Sale

221 Kennedy Memorial Drive, Hoyt Lakes, MN 55750

$347,500

Community staple pharmacy and variety store in Hoyt Lakes, MN.

Highway 53 Commercial Opportunity

Highway 53 Commercial Opportunity

10 S Highway 53, Cook, MN 55723

$399,000

8,640 sqft 0.65 AC lot

Commercial building on 0.65 acre corner lot.

Mesaba Drug Store For Sale

Mesaba Drug Store For Sale

221 Kennedy Memorial Dr, Hoyt Lakes, MN 55750

$347,500

0.34 AC lot

Community staple pharmacy and variety store in Hoyt Lakes, Minnesota.

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.

Hibbing Commercial Land Opportunity

Hibbing Commercial Land Opportunity

Old Highway 169, Hibbing, MN 55746

$195,000

17.00 AC lot

Prime commercial land with utilities and road frontage.

Commercial Land on Highway 61

Commercial Land on Highway 61

1050 HWY 61, Two Harbors, MN 55616

$344,000

B-1 land available on Highway 61 in Two Harbors.

Commercial Land Near Westside Commons

Commercial Land Near Westside Commons

Hwy 73, Hibbing, MN 55746

$149,000

Commercial land with frontage near Walmart and Westside Commons.

Commercial Land with Highway Frontage

Commercial Land with Highway Frontage

3857 HWY 73, Hibbing, MN 55746

$79,000

Commercially zoned land with highway frontage, city services available, and proximity to major retail.

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.

14641 Canadian Border Rd

RETAIL STORES (PERSONAL SERVICES)

14641 Canadian Border Rd, Ely, MN 55731

$635,000

Estimated value

1,440 sqft 7.62 AC lot

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

205 Central Ave

AUTO REPAIR, GARAGE

205 Central Ave, Ely, MN 55731-1212

Value Estimation by Request

3,500 sqft

RETAIL STORES (PERSONAL SERVICES)

134 1st E Ave, Ely, MN 55731-1772

Value Estimation by Request

3,696 sqft

Ely, MN Retail Properties & Spaces Market Trends and Statistics

Explore 12 retail properties & spaces for sale in Ely, MN, showcased through 8 active listings on our real estate platform. These investment opportunities span a total of 32,360 square feet of properties for sale, with an estimated market value of $1,874,000.

Sale prices for stores in Ely, MN start at $219,000, averaging $312,333, and reaching up to $395,000 — 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

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	$329.6K

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

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55731