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Ely, MN

Retail

Ely, MN Retail Space for Sale

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

9 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 Retail Building with Suite

Updated: Jul 18

Downtown Retail Building with Suite

43 E Camp St, Ely, MN 55731

$135,000

7,000 sqft 0.60 AC lot

Over 7,000 sq ft commercial building at 43 E Camp Street in downtown Ely, MN
City of Ely Planning & Zoning fully approved for cannabis retail and lower‑potency hemp edibles; approval letter available upon request
Upper level (Suite 100) is partially demo’d and ready for dispensary build‑out
Lower level offers 3,000+ sq ft with private entrance, dedicated parking lot, multiple offices, generous storage, and two bathrooms
Lower level currently configured as professional commercial space

Historic Downtown Retail Building

Historic Downtown Retail Building

145 E Chapman St, Ely, MN 55731

$275,000

Historic 1920s commercial building offers four leasing areas, including a main-floor front space leased through April 2027.

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

Live-Work Commercial Property

Live-Work Commercial Property

133 E Chapman St, Ely, MN 55731

$230,000

2,010 sqft

Main level offers an open, flexible space, with a private rear-access one-bedroom apartment and off-street parking upstairs.

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.

Cannabis-Approved Retail Building

Cannabis-Approved Retail Building

43 E Camp St, Ely, MN 55731

$165,000

7,000 sqft

Two-level commercial building with an approved lower-potency hemp edibles and cannabis retail tenant layout.

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.

Retail Building with Dual Income

Retail Building with Dual Income

120 E Sheridan Street, Ely, MN 55731

$219,000

2,994 sqft

Commercial building offers four display windows, off-street parking, divisible retail, and two 1-bedroom apartments.

Based on your search, we've compiled 16 Potential Opportunities for your consideration. Besides 9 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.

Retail Home Goods Storefront

Retail Home Goods Storefront

303 Main Street, Tower, MN 55790

$250,000

2,400 sqft

Nordic-inspired home goods boutique offered for sale along a busy state corridor near BWCAW access.

Retail Storefront With Inventory Option

Retail Storefront With Inventory Option

303 Main Street, Tower, MN 55790

$250,000

For sale retail storefront located on Main Street in Tower, Minnesota, featuring a Nordic-inspired home goods business.

Live-Work Commercial Building

Live-Work Commercial Building

1800 9th Ave N, Virginia, MN 55792

$129,000

Commercial building with an upper two-bedroom, one-bath apartment and flexible ground-floor space.

Established Sporting Goods Business For Sale

Established Sporting Goods Business For Sale

105 N 3rd Ave, Virginia, MN 55792

Contact for pricing

5,476 sqft

Turn-key sporting goods business with inventory, building, and land.

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.

PUD-Zoned Commercial Land with Frontage

PUD-Zoned Commercial Land with Frontage

3229 State Road 207, Elkton, FL 32033

$1,599,000

2.07 AC lot

2.07-acre PUD-zoned parcel on State Hwy 207 with 360 feet of frontage and an on-site renovated 2012 home.

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

RETAIL STORES (PERSONAL SERVICES)

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

Value Estimation by Request

3,696 sqft

Ely, MN Retail Space Market Trends and Statistics

Explore 11 retail space for sale in Ely, MN, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 34,066 square feet of properties for sale, with an estimated market value of $2,093,000.

Sale prices for retail space in Ely, MN start at $135,000, averaging $232,555, and reaching up to $390,000 — 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	$301.3K

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)

Average Property Price per SF

For-sale pricing trends across core commercial property types in St. Louis County

Retail

Office

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