Active
3,000 sqft

120 E Sheridan St, Ely, MN 55731

Mixed UseProperty Type
0.15 acresLot Size
1910Year Built
$95/sq ftPrice per sq ft

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:...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
395 days on Market
  • Listed by: • Z'Up North Realty, Inc.
Last updated: 09/10/2025 09:05 PM • Source: NorthStar, MLS#: 6785343
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Listing Courtesy of Z'Up North Realty, Inc.
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Property Taxes

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Property Information for 120 East Sheridan Street

Property Details

  • Taxes: $4,294 / year
  • MLS Type: Commercial Sale / Mixed Use
  • Subdivision Name: Ely
  • Zoning Jurisdiction: Business/Commercial

Building Information

  • Residences: 4
  • Year Built: 1910
  • Lot Size: 0.15 AC / 6,534 SF

Summary

Location and General Information
  • City Name: Ely
  • County Or Parish: St. Louis
  • County: St. Louis-MN
  • Directions: Sheridan Street to Address
  • Latitude: 47.902945
  • Longitude: -91.864772
  • Map Coordinate: 999-A1
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Ely
  • City and Location Text: Ely(MN)
  • Postal Code: 55731
  • State Or Province: MN
  • Public Survey Township: 62
Taxes and HOA Information
  • Additional Parcels: No
  • Parcel Number: 030001001100
  • Tax Annual Amount: $4,294.00
  • Tax Legal Description: ALL LOTS 5 & 6 & WLY 1.40 FT OF LOT 7
  • Tax Other Annual Assessment Amount: $240.00
  • Tax Year: 2025
  • Tax With Assessments: 4534.0000
School Information
  • High School District: 696 - Ely
  • School District Number: 696
  • School District Phone: 218-365-6166

Property

Lot Information
  • Current Use: Other, Retail
  • Lot Size Area: 0.15
  • Lot Size Dimensions: 126.00 x 51.00
  • Lot Size Units: Acres
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale
  • Building Area Total: 3000.0
Utilities
  • Sewer: City Sewer/Connected
  • Utilities: Heating Separate, Hot Water Separate
  • Water Source: City Water/Connected

Interior and Exterior Features

Exterior Features
  • Accessibility Features: None
  • Foundation Area: 2994.0
  • Fuel: Oil
  • Road Frontage Type: City Street
  • Road Responsibility: Public Maintained Road
  • Roof: Flat
Interior Features
  • Basement Type: Full
  • Cooling: Central Air
  • Ceiling Height: 8-10
  • Heating: Forced Air
  • Levels: Three Or More
  • Basement YN: Yes

Multi Family

Unit 1
  • Unit Bath 3Qtr: 0
  • Unit Bath Full: 0
  • Unit Bath Half: 1
  • Unit Bath Qtr: 0
  • Unit Rooms Total: 3
  • Unit SqFt: 1300
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Is Leased: 0
  • Unit Level: MAIN
  • Unit Number: 1
Unit 2
  • Unit Bath 3Qtr: 0
  • Unit Bath Full: 0
  • Unit Bath Half: 0
  • Unit Bath Qtr: 0
  • Unit Rooms Total: 2
  • Unit SqFt: 504
  • Unit Type Baths Total: 0
  • Unit Type Beds Total: 0
  • Unit Is Leased: 0
  • Unit Level: SECND
  • Unit Number: 2
Unit 3
  • Unit Bath 3Qtr: 1
  • Unit Bath Full: 1
  • Unit Bath Half: 0
  • Unit Bath Qtr: 0
  • Unit Rooms Total: 3
  • Unit SqFt: 347
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 1
  • Unit Is Leased: 0
  • Unit Level: SECND
Unit 4
  • Unit Bath 3Qtr: 0
  • Unit Bath Full: 0
  • Unit Bath Half: 1
  • Unit Bath Qtr: 0
  • Unit Rooms Total: 3
  • Unit SqFt: 370
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 1
  • Unit Is Leased: 0
  • Unit Level: SECND
  • Unit Number: 4

Property History for 120 East Sheridan Street

DateEvent & SourcePriceAppreciation
Jul 18, 2026

Price Change

Lake Superior Area REALTORS #6121668

$219,000—
Jun 30, 2026

Price Change

Lake Superior Area REALTORS #6121668

$229,000—
Mar 26, 2026

Price Change

Lake Superior Area REALTORS #6121668

$275,000—
DateEvent & SourcePrice
07/18/2026

Price Change

Lake Superior Area REALTORS #6121668

$219,000
06/30/2026

Price Change

Lake Superior Area REALTORS #6121668

$229,000
03/26/2026

Price Change

Lake Superior Area REALTORS #6121668

$275,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public records

120 East Sheridan Street

Beds

0

Total Finished SqFt

2,994 SqFt

Above Grade Finished SqFt

2,994 SqFt

Lot Size

6,423 SqFt

Style

Single Family Residence

Year Built

1910

Schools near 120 East Sheridan Street

This home is within Ely Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Washington Elementary School
PublicPK to 5

Memorial Middle School
Public6 to 8

Memorial Secondary
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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120 East Sheridan Street is a mixed use property for sale in Ely, MN 55731. This property was listed for sale on September 10, 2025 by Z'Up North Realty, Inc., it's currently listed at $285,000. This listing's school district is Ely Public School District. Nearby schools include Washington Elementary School, Memorial Middle School and Memorial Secondary. 120 East Sheridan Street is a 0-bed, 0-bath, 3,000 sqft mixed use property built in 1910.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Z'Up North Realty, Inc.

Based on information submitted to the MLS GRID as of 09/10/2025 09:05 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.