429 E Sheridan St, Ely, MN 55731
St. Louis County County
Key Facts
Description
This is an exciting opportunity to own a meticulously updated and well-maintained property with endless potential. The property features three separate buildings: the main building, a guest house, and a workshop. The main building is a charming kit log structure featuring a spacious 8' x 22' covered front porch with a beautiful handcrafted floating stone walkway leading to the entrance. Inside, you'll find a versatile space ideal for retail, office, or other business use, along with a loft and generous storage areas. Recent updates include newer flooring, LP heating, blinds, a metal roof, exterior stain, and fencing. The guest house has been thoughtfully renovated with custom-built bunk beds and bed frames, comfortably sleeping up to eight guests. Improvements include updated electrical, newer cove electric heat, newly insulated walls finished with tongue-and-groove wood, a fully equipped kitchen, and a 3/4 bath featuring ceramic tile flooring and backsplash. The beautifully landscaped grounds showcase stone pathways, decorative rock accents, and ample off-street parking, creating an inviting setting for guests or customers alike. Whether you're looking to establish a retail shop, office, vacation rental, or another entrepreneurial venture, this exceptional property offers the perfect opportunity to bring your dream and vision to life.
Property Information
Property Type
Commercial Sale
Year Built
1997
Living Area
1,362 sq ft
Lot Size
0.14 acres
Lot Dimensions
50 x 125
Days on Market
7
MLS® Listing#
6126552
Property Features
Cooling
Heating
Basement
Parking
Construction
Foundation
Roof
Sewer
Water Source
Financial Details
Annual Taxes
$2,635
Tax year 2026
Parcel Number
030-0370-00750
Directions
Follow Sheridan to the address and sign.
Affordability Calculator
$43,800
Estimated monthly payment
$1,166/mo
Principal $175,200 · Est. interest $244,420 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Ely, MN
- $448,148
- Median Listing Price
- 90
- Median Days on Market
- 1,400
- Median Sq Ft
- $317
- Median Price / Sq Ft
- 109
- Active Listings
- This home’s price is 51% below the area median.
- Its price per sq ft is 49% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Ely, MN.
Location
Points of Interest in Ely, MN
Showing the Ely area map.
Nearby Schools
Washington Elementary
Elementary · 0.2 mi away
Ely Memorial High School
Secondary · 0.2 mi away
Babbitt Head Start 2142 Combination
School · 14.2 mi away
Northeast Range School
School · 14.2 mi away
Tower-Soudan Elementary
Elementary · 20.4 mi away
Vermilion Country School
Secondary · 20.7 mi away
Mesabi East Schools
Secondary · 31.2 mi away
Mesabi East Environmental Education Center Me3c
School · 31.5 mi away
Toimi School
School · 35.1 mi away
Cook School
School · 38.3 mi away
Laurentian Environmental Center
Secondary · 39.3 mi away
St Louis County Schools
School · 40.7 mi away
Marquette Catholic School
School · 41.0 mi away
Parkview Learning Center
School · 41.2 mi away
Virginia Minnesota Public Schools
Elementary · 41.2 mi away
Roosevelt Elementary School
Elementary · 41.2 mi away
Parkview Elementary
Elementary · 41.3 mi away
Northland Learning Center
School · 42.0 mi away
North Woods School
Elementary · 42.4 mi away
East Range Academy - Technology and Science
School · 42.5 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 1648 Golden Ridge Trail, Ely, MN | $154,000 | — | — | — |
| 1648 Golden Ridge Tr, Ely, MN | $154,000 | — | — | — |
| 1687 Golden Ridge Tr, Ely, MN | $155,000 | — | — | — |
| 2148 Haapala Rd, Ely, MN | $159,000 | — | — | — |
| 43 E Camp St, Ely, MN | $165,000 | — | — | 7,000 |
| XXX10 Powerhouse Trail, Ely, MN | $165,112 | — | — | — |
Moving Cost Estimate
EXIT Agents in Ely
Listing Courtesy: Bear Island Realty LLC - ***