$979,000
2 W Sheridan St Ely, MN 55731
For Sale MLS# 6124637
4,350 sq ft Commercial
Details for 2 W Sheridan St
MLS# 6124637
Description for 2 W Sheridan St, Ely, MN, 55731
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
Listing Information
Property Type: Commercial
Status: Active
Lot Size: 0.07 Acres
Square Feet: 4,350 sq ft
Year Built: 1910
Stories: 2 Story
Construction: Frame/Wood
Number Of Units Total: 2
County: St. Louis
Interior Features
Additional Interior Features: Bar Area, Kitchen Area, Restrooms
Utilities
Water: City
Sewer: City
Heating: Forced Air, Propane
Exterior / Lot Features
Exterior: Brick
Roof: Rubber
Lot Dimensions: 25 x125 Leased building
Additional Exterior/Lot Features: Road Frontage - City
Driving Directions
Sheridan St Ely MN to addresses.
Financial Considerations
Terms: Conventional
Tax/Property ID: 030-0010-01300 Leased 030-0280-0010 (owned)
Tax Amount: 3702
Tax Year: 2026
A broker reciprocity listing courtesy: Canoe Capital Realty, LLC - Kerry Davis
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Duluth Area Association of REALTORS® MLS. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Duluth Area Association of REALTORS® MLS. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
Copyright 2026 Duluth Area Association of REALTORS® MLS. All Rights Reserved.
Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 2 W Sheridan St
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 2 W Sheridan St
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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