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    Ely, MN
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    Ely, MN Retail Space for Sale

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    Babbitt, MN Tower, MN Soudan, MN
    Downtown Ely Commercial Building
    $299,000
    6,900 SF
    Downtown Ely Commercial Building

    29 E Chapman St, Ely, MN 55731

    Two-level commercial building in downtown Ely with business potential.
    • Prime downtown Ely location.
    • Two levels with separate entrances suitable for multiple businesses.
    • Large open spaces on both levels (3,450 sq ft each).
    • Multiple bathrooms and private rooms on each level.
    • Enjoy the deck/patio area at the back of the building.
    Updated: Dec 3, 2025
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    Commercial Building in Ely's Downtown
    $375,000
    4,200 SF
    Commercial Building in Ely's Downtown

    137 E Sheridan St, Ely, MN 55731

    Meticulously maintained 4,200 sq ft retail space in Ely.
    • Prime downtown Ely location in a sought‑after area.
    • Meticulously maintained +/- 4,200 sq. ft. retail space with potential for multiple business spaces.
    • Option to restore previous living quarters on the second floor.
    • Significant updates including Marvin windows, metal roof, efficient 3‑phase 220 electrical power, radiant heat, and central air.
    • Large storage/inventory areas, kitchen, ½ bath, off‑street parking, and private offices.
    Updated: Jan 27, 2025
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    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 2 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 2 Off-Market properties to explore as potential leads, plus 1 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.

    Historic Tower Multi-Use Commercial Building
    $339,900
    Historic Tower Multi-Use Commercial Building

    Downtown Tower multi-use building with income potential near Lake Vermilion.

    601 Main St, Tower, MN 55790

    View details
    Mixed-Use Property in Tower, MN
    $159,000
    Mixed-Use Property in Tower, MN

    Commercial property with residential living quarters in a prime location.

    507 Main Street, Tower, MN 55790

    View details
    Updated Mixed-Use Investment Opportunity
    $950,000
    3,304 SF
    Updated Mixed-Use Investment Opportunity

    Updated mixed-use property with apartments and commercial spaces in Biwabik,MN.

    400 Main S Street, Biwabik, MN 55708

    View details
    Biwabik Mixed-Use Investment Opportunity
    $950,000
    3,304 SF
    Biwabik Mixed-Use Investment Opportunity

    Updated mixed-use property with apartments and commercial spaces in Biwabik, MN.

    400 Main Street S, Biwabik, MN 55708

    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.

    Prime PUD-Zoned Land Opportunity
    $1,599,000
    900 SF
    Prime PUD-Zoned Land Opportunity

    2.07 acres of PUD-zoned land in a growing corridor.

    3229 State Road 207, Elkton, FL 32033

    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.

    14641 Canadian Border Rd
    RETAIL STORES (PERSONAL SERVICES)
    1,440 SF Lot: 7.62 Acres
    Estimated value
    $635,000

    14641 Canadian Border Rd, Ely, MN 55731

    View details
    134 1st E Ave
    RETAIL STORES (PERSONAL SERVICES)
    3,696 SF
    Value Estimation by Request

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

    View details

    Ely, MN Retail Space Investment Opportunities Market Analysis

    Explore 4 retail space for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 11,100 square feet of properties for sale, with an estimated market value of $674,000.

    Sale prices for retail space in Ely, MN start at $299,000, averaging $337,000, and reaching up to $375,000 — 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

    Automotive properties 2
    Parking lots & garages 2
    Storefront properties 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 $324.3K

    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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