4,200 sqft

$370,000

137 E Sheridan St, Ely MN, 55731

Price per sqft$88.10

Built in1905

Property size4,200 sqft

Property typeCommercial

Courtesy of Bear Island Realty LLC, Kate Davies Listing Contact: ***

Overview

Active

Listed Jan 28, 2025

Updated Jul 22

Pristine commercial building in Ely’s sought after downtown location! Endless opportunities are possible for this meticulously maintained +/- 4,200 sq. ft. retail space in the heart of Ely. Currently the home of Pengals Basswood Trading Company, the building presents an excellent investment opportunity and could easily be converted into multiple business spaces with the option of restoring the previous living quarters on the second floor. While the original structure was built in the early 1900’s, expansion projects occurred in 1983 and 1987 increasing the retail floor by over 1000 sq. ft. Updates include Marvin windows, a metal roof, efficient 3-phase 220 electrical power with 200-amp panel, radiant heat ceiling panels, central air, new entry door, new flooring, updated plumbing and much more! Other features include large storage/inventory areas, kitchen, ½ bath, off-street parking, and private offices. This inviting and highly attractive property has been home to a magnificently successful business and staple of the Ely community for many decades. Make this the future home of your next business venture in the Northwoods!

Other Property Details

Taxes: $6,118
Tax Frequency: Annually

Listings courtesy of Lake Superior Area REALTORS® as distributed by MLS GRID

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