342 E Sheridan Street Ely, MN $ 300,000
342 E Sheridan Street
$ 300,000
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342 E Sheridan Street

Ely, MN, 55731
$ 300,000
Bedrooms-- Baths-- Sq 2,240

Monthly Estimate*

$ 1,797

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Commercial Property for sale in Ely, MN

for $300,000. This 2,240 square foot building was built in 1910 on a lot size of 0.14.

This is an amazing turnkey business opportunity in Ely, Minnesota. With over 22 years of successful operations by the retiring owners, this laundromat has been kept up-to-date and well-maintained. There are 14 dryers, 9 top-loading washers, 8 front-loading washers, 2 triple-load washers, and 1 double-load washer. Nice clean 11x19 sitting/folding area with a flat-screen TV and plenty of counter space. Along with equipment upgrades, recent building upgrades include floor and ceiling tile in the main laundry area, vinyl siding, a new roof, air conditioning for the commercial laundry basement area, and newly installed plumbing pipes. There are 17+ resorts and personal accounts that contribute to its success with daily traffic counts of 7700 cars per day on Sheridan St. The property also features a spacious 3-bedroom furnished apartment which can be used as an extra income source or can be used as owner's quarters. Don't miss out on this unique chance to own your own business!

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Commercial Pending

Price

$ 300,000

Property Type

Commercial

Taxes

$ 2,521

Style

Lot Size

0.14

Year Built

1910

Town/City

Ely

County/Region

Saint Louis

MLS | Web ID

6374678

Features
General
Sewer City Sewer/Connected
Heating Forced Air
Utilities Electric Common Heating Common
Roof Asphalt
Garage Spaces 0
Construction Materials Vinyl Siding
Year Built 1910
Levels Two
PropertySubType Other
Tax Year 2023
Current Use Laundromat
Accessibility None
County St. Louis
Property Type Commercial Sale
Contingency None
Subdivision Name Whitesides Add To The Town Of Ely
Directions From Ely City Limits keep going east to second stop light. Located at the end of the block past the stop light on the south side of the street.
City Ely
High School District Ely
Zoning Description Business/Commercial
NumberOfUnitsTotal 1
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 2521
Additional Parcels Y/N N
Virtual Tour https://www.tourfactory.com/idxr3080389
Standard Status Pending
Lender Owned No
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Exterior
Parking Features Paved
Lot Features Corner Lot
Water Source City Water/Connected
Inclusions Building Fixture/Equipment
Lot Size Area 0.14
Building Area Total 2240
Lot Dimensions 125.00 x 50.00
Foundation Area 2240
Road Frontage Type City Street
Road Responsibility Public Maintained Road
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Interior
Basement (Y/N) N
Foundation Dimensions 24 x50
Fuel Propane
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Internal Only
Street Number 1 342
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* Excluded Features
List By
Z'up North Realty, Inc.

Broker

andrea@zupnorth.com

Email

Affordability Calculator

$2,007
Per Month
90%
10%
0%
Monthly Principal & Interest
$1,797
Monthly Property Taxes
$210
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 5.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3048330 Elementary School
3048335 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
7/26/2024$300,000 -11.50% Price Down
5/25/2024$339,000 -2.87% Price Down
3/16/2024$349,000 -4.38% Price Down
11/15/2023$365,000 -8.75% Price Down
5/23/2023$400,000 Listed Price

Map


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342 E Sheridan Street, Ely, MN, 55731 is a Commercial Property for sale at $300,000 with 2,240 sqft and a lot size of 0.14. 342 E Sheridan Street was built in 1910. The property's zip code is 55731 which is in Ely, MN