Prime Commercial Real Estate Downtown Ely, MN

Asking Price$390,000

Gross Revenue
Not Disclosed

Net Operating IncomeNot Disclosed

FF&E$81,500
Included in asking price
Building Sq. Ft.8078

Price per Sq. Ft.Not Disclosed

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Prime Commercial Real Estate Downtown Ely, MN


Asking Price$390,000

Gross Revenue
Not Disclosed

Net Operating IncomeNot Disclosed

FF&E$81,500
Included in asking price
Building Sq. Ft.8078

Price per Sq. Ft.Not Disclosed

Property Description
Situated on the bustling main street of town, this property enjoys high visibility and foot traffic, making it an ideal spot for commercial ventures. The property's central location ensures easy access to local amenities, shops, and recreational activities, enhancing its appeal to both locals and visitors.
The ground floor historically housed the Ely Steak House, a well-regarded family restaurant known for its steaks, burgers, and wide beverage selection. The second story of the building comprises a four-unit apartment complex, contributing to the property's total area of 8,078 square feet.
Given its central location on Sheridan Street, the building offers significant potential for redevelopment, perfect for introducing a new dining establishment on the ground floor (equipment and assets sold separately) or repurposing the space for alternative commercial uses, while maintaining the residential units above.

Sunbelt Listing ID: 54787
Listing Info
ID:
2267696
Listing Views:
1470

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Property Listed by: Sunbelt Advisors Sunbelt Business Advisors

Listing ID: 2267696 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.