2 W Sheridan St, Ely, MN

Name: 2 W Sheridan St, For Sale in Ely - eXp Realty
Brand: Canoe Capital Realty, LLC
SKU: 6124637
Price: 979000 USD

House

For Sale

Listed price in listed location currency (USD).

$979,000

000

MLS® 6124637

Key Facts
Description
Map

Key Facts

Type

Levels Commercial Sale

Size 4350 sqft

Garage

Taxes $3,702

Days Active 0

Lot Size

Approx. Age 1910

Avg. Price Per Sqft $225

MLS® Number 6124637

Property Address: 2 W Sheridan St, Ely, MN, 55731-1217

Average square foot calculated using Size range provided by listing agent.

Description

Rarely does an opportunity arise to own a cornerstone of the Ely community—a business that is not just a destination, but a way of life for those who love and live on Northern Grounds. After more than 30 years of expansion and growth, the current owners are ready to retire, leaving behind a thriving, multi-faceted enterprise with the iconic name that was twice established and is deeply rooted at the gateway to the Boundary Waters Canoe Area (BWCA). This turnkey sale includes a successful business operation at 2 W. Sheridan St. (leased building) and the strategic real estate and production hub at 36 W. Sheridan St. (Parcel 030-0260-00010). The Premier Coffee & Wine Bar: A sophisticated downtown anchor known for ethically roasting small-batch coffee and curating a world-class wine collection for an adventurous and loyal clientele. The Roasting Room (36 W. Sheridan): A state-of-the-art culinary hub powered by a 5lb Mill City Roaster. Currently meeting all internal needs, expanded hours offer significant potential for wholesale growth. Full commercial bakery and kitchen, designed for quality grab & go menu items is imperative to the area’s food & beverage scene. Expanded menu and offerings could be accommodated. Upper-Level Residential Units: Two well-appointed units above the 36 W. Sheridan storefront, each featuring 1-bedroom, 1-bathroom, off-street parking, and access to a beautiful private landscaped garden and gazebo. These spaces are ideal for commercial use or continued employee housing. Society Hall: A professional, light-filled co-working and high-end event space designed for independent collaboration, weddings, and community gatherings. Not currently leased but can be. Northern Grounds is defined by its commitment to environmental, social, and economic sustainability. It is a high-performing business that cash flows exceptionally well and is listed significantly below its professional 2025 Year End valuation. Authentic, raw, and never posed. This isn't just a shop; it’s a journalistic tribute to the 47° N life, free from filters and full of heart. The most desirable asset of Northern Grounds is its people. A loyal, trained staff and a devoted customer base are ready to welcome the next owner. This is a rare invitation to lead a business where honesty, trust, and curiosity are the daily backdrop. Asking price $979, 000 Call Kerry at 218-235-1084

MLS® Number6124637

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1910

BasementPartial

Driveway

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 20, 2026List Date

$979,000List Price

Commute

Commute

Starting Address

Destination Address

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