Property Listing
Description
Strategic Commercial + Income Property on Sheridan Street, Ely – Exceptional Traffic & Dual Rental Potential. 3,000+ sq ft commercial building available for the first time. Plenty of off-street parking as well! Located on Ely’s principal business corridor it features four large display windows, making it an ideal space for showcasing merchandise. Surrounded by shops, outfitters, galleries, and eateries—this property taps into both local residents and transient recreation customers. Dual Income Streams: Property includes two rentable 1-bedroom apartments, generating extra income alongside commercial use. The retail space easily divides into two separate units—ideal for multiple tenants or increased rental turnover. Traffic Exposure: Sheridan Street boasts approximately 7,700 vehicles per day, driven by Ely’s strong tourism traffic—including visitors en route to the Boundary Waters Canoe Area Wilderness, state parks, resorts, and outdoor recreation destinations. Ely is a Tourism Magnet
Property Information
Status: Active
Sub Type: ********
List Price: $285,000
MLS#: 6785343
Current Price: $285,000
Address: 120 E Sheridan Street, Ely, MN 55731
City: Ely
State: MN
Postal Code: 55731
Geo Lat: 47.902945
Geo Lon: -91.864772
Subdivision: Ely
County: St. Louis
Property Description
Year Built: 1910
Lot Size SqFt: 6098.4
Gen Tax: 4534
Specials Inst: 240
High School: ********
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Style: ********
Total Bedrooms: 2
Total Bathrooms: 4
Total Full Baths: ********
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Garage Stalls: 0
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