401 E Sheridan St, Ely, MN

Name: 401 E Sheridan St, For Sale in Ely - Zoocasa
Brand: Keller Williams Classic Realty NW - Ely
SKU: 6124235
Price: 395000 USD

House

For Sale

Listed price in listed location currency (USD).

$395,000

000

MLS® 6124235

Overview

Key Facts

Type Mixed Use

Levels Commercial Sale

Size 4820 sqft

Garage Yes

Taxes $7,323

Days Active 5

Lot Size

Approx. Age 1913

Avg. Price Per Sqft $81

MLS® Number 6124235

Property Address: 401 E Sheridan St, Ely, MN, 55731-1455

Average square foot calculated using Size range provided by listing agent.

Description

Few properties can claim both a century of history and a front-row seat to everything that makes Ely one of Minnesota's most beloved destinations. 401 E Sheridan Street is one of them. Built in 1913 and anchored in Ely's C-1 commercial corridor, this freestanding mixed-use building delivers the kind of bones that developers and entrepreneurs dream about — generous square footage, a flexible footprint, and a location that puts you squarely in the flow of year-round traffic. The main level spans a fully operational retail floor, currently running as a liquor store, with 1, 666 SF of basement storage below. Upstairs, a spacious four-bedroom, two-bathroom apartment offers a private deck and detached garage — ideal for an owner-operator, long-term tenant, or short-term rental income stream. Total building size comes in at 6, 486 SF across three levels, giving a new owner plenty of room to work with. Ely's appeal is no secret. As the gateway to the Boundary Waters Canoe Area Wilderness, and built on a deeply rooted sense of community — this is a town with a loyal local base and a steady stream of visitors who keep coming back. With historic charm, a prime location, and real redevelopment potential, this property is an exceptional opportunity for an investor or entrepreneur ready to plant roots in a beloved Northwoods community.

MLS® Number6124235

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1913

BasementFull, Slab

DrivewayDetached Garage, Asphalt, Off Street

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 29, 2026List Date

$395,000List Price

Map

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