Ely, MN Specialty Properties for Sale

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Babbitt, MN Soudan, MN Tower, MN

$498,500

11.50 Acres

Ely Commercial Live-Work Opportunity

2331 Old Highway 169, Ely, MN 55731

Live and work opportunity in Ely, Minnesota with passive income.

Established boat storage/rental/servicing business with verifiable financials.
Passive income and excellent growth potential in the recreational boating industry.
Includes a year‑round 1‑bedroom house (potential for 2nd bedroom) and a 1‑bedroom apartment.
Large 4920 sq ft storage building with office, laundry, bath, and indoor boat storage.
Located on 11.5 acres with high visibility from Highway 169, near Ely.

Updated: Jul 13, 2025

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$349,000

0.16 Acres

Established Ice Business Opportunity

442 N 15th Ave E, Ely, MN 55731

Well-established ice business with real estate and equipment included.

Established business with existing client base.
Includes real estate in Ely, Minnesota.
Complete ice‑making and delivery equipment included (freezers, ice bins, delivery vehicle, etc.).
Located in the Boundary Waters Canoe Area.
Includes walk‑in freezers.

Updated: Sep 9, 2025

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Based on your search, we've compiled 41 Potential Opportunities for your consideration. Besides 2 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 31 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.

$499,900

8,000 SF

Downtown Duluth Mixed-Use Building

Character-filled commercial building with storefronts and event venue.

21 N Lake Ave, Duluth, MN 55802

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Contact for pricing

Former Northland College Campus Available

Former college campus for sale with development/reuse opportunities.

1141 Ellis Avenue South, Ashland, WI 54806

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$12,000,000

400,000 SF

Former Northland College Campus

Versatile campus on Lake Superior's Chequamegon Bay.

1411 Ellis Ave S, Ashland, WI 54806

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$3,200,000

11,591 SF

Fully Leased Building on Highway

Fully leased commercial building with long-term investment potential.

1301 Miller Trunk Hwy, Duluth, MN

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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.

Contact for pricing

2.89 Acres

Island Property on Pine River

Island property surrounded by the Pine River with great fishing.

Tbd Island, Pine River, MN 56472

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$399,000

1,400 SF

Lake Tomahawk Multi-Use Lot

3.3+ acre lot with storage building on Hwy 47.

7484 DOLHUN DR lot: 14, Lake Tomahawk, WI 54539

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$75,000

0.51 Acres

Waterfront Land on Golf Course

Waterfront property on Nahma Golf Course with beach and woods.

14387 NAHMA SHORES JJ.45 DRIVE, Nahma, MI 49864

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$75,000

0.51 Acres

Waterfront Land on Golf Course

Waterfront property on Nahma Golf Course with wooded area.

14387 Nahma Shores JJ.45 Drive, Nahma, MI 49864

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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.

33 Chapman St

CHARITABLE ORGANIZATION • 1,849 SF

Value Estimation by Request

33 Chapman St, Ely, MN 55731-1227

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3373 Cloquet Line

CHARITABLE ORGANIZATION • 5,400 SF

CHARITABLE ORGANIZATION • 20,000 SF

CHARITABLE ORGANIZATION • 1,904 SF

Value Estimation by Request

3616 Arm Rd, Ely, MN 55731

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Ely, MN Specialty Properties Investment Opportunities Market Analysis

Explore 33 specialty properties for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 0 square feet of properties for sale, with an estimated market value of $847,500.

Sale prices for properties in Ely, MN start at $349,000, averaging $423,750, and reaching up to $498,500 — 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

Demographics Overview

Population 5,292

Population Growth (5Y) -10.5%

Median Household Income $62,900

College Educated 54.0%

High-Yield Neighborhoods for Strategic Investment

Identify Ely submarkets with the highest inventory density on the market and evaluate the median listing prices of real estate assets

Neighborhood	Average Price
55731	$423.8K

Taxes & Financing

Tax Rate (average for all types) 1.56%

Property Tax per SF $11.67 per sq ft

Tax Rate vs County Average 1.02 pp below county avg

Average Loan-to-Value 65.0%

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Ely, MN Specialty Properties for Sale

Ely Commercial Live-Work Opportunity

Live and work opportunity in Ely, Minnesota with passive income.

Established Ice Business Opportunity

Well-established ice business with real estate and equipment included.

Opportunities in Nearby Cities

Downtown Duluth Mixed-Use Building

Former Northland College Campus Available

Former Northland College Campus

Fully Leased Building on Highway

Potential Development Sites for Consideration

Island Property on Pine River

Lake Tomahawk Multi-Use Lot

Waterfront Land on Golf Course

Waterfront Land on Golf Course

Off-Market Properties in Ely, MN

33 Chapman St

3373 Cloquet Line

Ely, MN 55731

Ely, MN 55731

15 Conan St

Ely, MN 55731

1759 Bradach Rd

Ely, MN 55731

Ely, MN 55731

Ely, MN 55731

106 Wilson St

Ely, MN 55731

3590 Cloquet Line

Ely, MN 55731

Ely, MN 55731

1926 Hwy 169

25 3rd W Ave

1140 Main St

342 Sheridan St

3117 Van Vac Rd

14790 Moose Lk Rd

3616 Arm Rd

Ely, MN Specialty Properties Investment Opportunities Market Analysis

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Strategic Investment

Taxes & Financing

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