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    Ely, MN
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    Ely, MN Storefront Properties for Sale

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    Isabella, MN Babbitt, MN Tower, MN Soudan, MN Embarrass, MN
    Historic Downtown Retail Building
    Updated: Jul 10
    Historic Downtown Retail Building

    145 E Chapman St, Ely, MN 55731

    $275,000
    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.
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    Retail Building with Apartments
    Updated: Jul 19
    Retail Building with Apartments

    120 E Sheridan Street, Ely, MN 55731

    $219,000
    Prime location on Sheridan Street with high traffic exposure.
    Dual income potential from commercial space and two rentable 1‑bedroom apartments.
    3,000+ sq ft commercial building with four large display windows, ideal for retail.**
    Potential to divide retail space into two separate units.
    Located in a tourism‑rich area near the Boundary Waters.
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    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.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    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.

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    Based on your search, we've compiled 12 Potential Opportunities for your consideration. Besides 4 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, 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.

    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.

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    Mixed-Use Property with Apartments
    Mixed-Use Property with Apartments

    127 1st St S, Virginia, MN 55792

    $150,000
    7,300 sqft

    Combined commercial and residential space supports business operations alongside on-site apartment living.

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    Four-Story Storefront Building
    Four-Story Storefront Building

    214 N 2nd Ave, Virginia, MN 55792

    $400,000

    Four expansive floors in a solid brick building with central air and a separate garage/storage building on-site.

    View details
    Nordic-Style Home Goods Boutique
    Nordic-Style Home Goods Boutique

    303 Main Street, Tower, MN 55790

    $250,000

    Wood-frame retail storefront with forced-air propane heating and central air, zoned COMM along Main Street in Tower, MN.

    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.

    Commercial Land with Three-Side Access
    Commercial Land with Three-Side Access

    2802 E 2nd St, Superior, WI 54880

    $87,500
    0.34 AC lot

    Level commercial lot zoned C2, with access on three sides and strong traffic visibility for retail or service development.

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    Commercial Lot in Minong, WI
    Commercial Lot in Minong, WI

    317 W 5th Avenue, Minong, WI 54859

    Contact for pricing
    0.11 AC lot

    Commercial lot in high-traffic area with available utilities.

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    Commercial Land with Water Available
    Commercial Land with Water Available

    1st Avenue, Siren, WI 54872

    $42,000
    0.44 AC lot

    Commercial lot in Siren with water available and the option to expand via an adjacent lot also for sale.

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    Corner Lot in Downtown Park Falls
    Corner Lot in Downtown Park Falls

    172&184 2ND AVE N, Park Falls, WI 54552

    Contact for pricing
    0.13 AC lot

    Corner lot suitable for business in downtown Park Falls, Wisconsin.

    View details

    Ely, MN Storefront Properties Market Trends and Statistics

    Explore 4 storefront properties for sale in Ely, MN, showcased through 4 active listings on our real estate platform. These investment opportunities span a total of 7,814 square feet of properties for sale, with an estimated market value of $1,108,000.

    Sale prices for retail units in Ely, MN start at $219,000, averaging $277,000, 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

    Storefront properties 4

    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 $277K

    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

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