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    Ely, MN Retail Space for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN
    6 properties
    Historic Corner Storefront
    Updated: Jul 10
    Historic Corner Storefront

    145 E Chapman St, Ely, MN 55731

    $240,000
    5,000‑square‑foot commercial building constructed in 1920
    Four separate leasing areas across the building
    Corner location in downtown Ely
    New roof completed in 2023
    New fuel oil boiler installed in 2021
    View details
    Mixed-Use Property with Apartments
    Updated: Jul 19
    Mixed-Use Property with Apartments

    120 E Sheridan Street, Ely, MN 55731

    $219,000
    3,000+ square foot mixed‑use building with commercial space and two rentable 1‑bedroom apartments
    Commercial area can be separated into two distinct units
    Four large display windows face the business corridor
    Approximately 7,700 vehicles per day on Sheridan Street
    Zoned com
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    Mixed-Use Property with Rooftop Deck
    Mixed-Use Property with Rooftop Deck

    133 E Chapman Street, Ely, MN 55731

    $230,000
    3,030 sqft

    An open commercial floor occupies the main level, with a one-bedroom apartment above and off-street parking.

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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.

    Cap Rate available after sign in
    Est. NOI available after sign in
    Local Demand available after sign in
    Mixed-Use Building with Apartments
    Mixed-Use Building with Apartments

    120 E Sheridan St, Ely, MN 55731

    $219,000
    2,994 sqft

    Retail frontage offers four display windows, off-street parking, and additional residential income potential.

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    Downtown Ely Commercial Building
    Downtown Ely Commercial Building

    29 E Chapman St, Ely, MN 55731

    $209,000
    6,900 sqft 0.19 AC lot

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

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    Downtown Ely Commercial Building For Sale
    Downtown Ely Commercial Building For Sale

    137 E Sheridan St, Ely, MN 55731

    $370,000
    4,200 sqft 0.14 AC lot

    Meticulously maintained retail space with investment and conversion potential.

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    Realmo Analytics Monitor Off-market properties and contact owners who are ready to sell. Many signals applied to make quality leads for you. Get Leads
    Based on your search, we've compiled 12 Potential Opportunities for your consideration. Besides 6 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

    Opportunities in Nearby Cities

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

    Nordic-Inspired Retail Space
    Nordic-Inspired Retail Space

    303 Main St, Tower, MN 55790

    $250,000
    2,400 sqft

    Retail setting with Scandinavian-inspired interiors and home furnishings, rugs, decor, and gifts.

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    Four-Floor Mixed-Use Building
    Four-Floor Mixed-Use Building

    214 N Second Ave, Virginia, MN 55792

    $400,000
    11,014 sqft

    Solid brick construction includes a separate garage and storage building.

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    Nordic-Inspired Retail Storefront
    Nordic-Inspired Retail Storefront

    303 Main Street, Tower, MN 55790

    $250,000

    Wood-frame commercial property with central air, forced-air heat, and a 1930 construction date.

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    Four-Story Mixed-Use Building
    Four-Story Mixed-Use Building

    214 N 2nd Ave, Virginia, MN 55792

    $400,000

    Downtown Virginia property with a separate garage/storage building and four floors of interior 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.

    14641 Canadian Border Rd
    RETAIL STORES (PERSONAL SERVICES)

    14641 Canadian Border Rd, Ely, MN 55731

    Estimated value:
    $580,000
    1,440 sqft 7.62 AC lot
    View details
    134 1st E Ave
    RETAIL STORES (PERSONAL SERVICES)

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

    Estimated value:
    $300,000
    3,696 sqft
    View details

    Ely, MN Retail Space Market Trends and Statistics

    Explore 8 retail space for sale in Ely, MN, showcased through 6 active listings on our real estate platform. These investment opportunities span a total of 17,124 square feet of properties for sale, with an estimated market value of $1,487,000.

    Sale prices for retail space in Ely, MN start at $209,000, averaging $247,833, and reaching up to $370,000 — 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

    Storefront properties 5

    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 $251.4K

    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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    Browse Retail space for Sale Near Ely, MN

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    • 55731

    Featured Ely Real Estate Agencies

    Realmo connects you with licensed Ely CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Bear Island Realty, LLC
    943 E Sheridan St Ely, MN
    Phone: (218) 365-2800
    Wildwoods Land Company
    1325 E Sheridan St Ely, MN
    Phone: (218) 365-3665
    www.elywildwoods.com
    Canoe Capital Realty LLC
    203 E. Sheridan St Ely, MN 55731
    Phone: (218) 235-1084
    elycanoecapitalrealty.com/
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