Prime Commercial Real Estate Downtown Ely, MN

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.