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MLS# 6117649 - 137 E Sheridan St Ely, MN 55731

© 2025 Red Pine Realty. All rights reserved.
Pristine commercial building in Ely’s sought after downtown location! Endless opportunities are possible for this meticulously maintained +/- 4,200 sq. ft. retail space in the heart of Ely. Currently the home of Pengals Basswood Trading Company, the building presents an excellent investment opportunity and could easily be converted into multiple business spaces with the option of restoring the previous living quarters on the second floor. While the original structure was built in the early 1900’s, expansion projects occurred in 1983 and 1987 increasing the retail floor by over 1000 sq. ft. Updates include Marvin windows, a metal roof, efficient 3-phase 220 electrical power with 200-amp panel, radiant heat ceiling panels, central air, new entry door, new flooring, updated plumbing and much more! Other features include large storage/inventory areas, kitchen, ½ bath, off-street parking, and private offices. This inviting and highly attractive property has been home to a magnificently successful business and staple of the Ely community for many decades. Make this the future home of your next business venture in the Northwoods!

Bear Island Realty LLC is the brokerage office representing the owner for this listing.
© Copyright 2025, Duluth Area Assn of REALTORS.
The information provided is considered reliable but is not warranted. IDX information is exclusively for the personal, non-commercial use of consumers, and should only be used for the purpose of identifying prospective properties that consumers may be interested in purchasing.
Data Source: DAAR
Red Pine Realty is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Red Pine Realty, a broker participant of Duluth Area Assn of REALTORS. Data last updated: Jun 27 2025 9:52PM.

Pristine commercial building in Ely’s sought after downtown location! Endless opportunities are possible for this meticulously maintained +/- 4,200 sq. ft. retail space in the heart of Ely. Currently the home of Pengals Basswood Trading Company, the building presents an excellent investment opportunity and could easily be converted into multiple business spaces with the option of restoring the previous living quarters on the second floor. While the original structure was built in the early 1900’s, expansion projects occurred in 1983 and 1987 increasing the retail floor by over 1000 sq. ft. Updates include Marvin windows, a metal roof, efficient 3-phase 220 electrical power with 200-amp panel, radiant heat ceiling panels, central air, new entry door, new flooring, updated plumbing and much more! Other features include large storage/inventory areas, kitchen, ½ bath, off-street parking, and private offices. This inviting and highly attractive property has been home to a magnificently successful business and staple of the Ely community for many decades. Make this the future home of your next business venture in the Northwoods!

Bear Island Realty LLC is the brokerage office representing the owner for this listing.
© Copyright 2025, Duluth Area Assn of REALTORS.
The information provided is considered reliable but is not warranted. IDX information is exclusively for the personal, non-commercial use of consumers, and should only be used for the purpose of identifying prospective properties that consumers may be interested in purchasing.
Data Source: DAAR
Red Pine Realty is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Red Pine Realty, a broker participant of Duluth Area Assn of REALTORS. Data last updated: Jun 27 2025 9:52PM.