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$300,000

  • Sold
  • Closed
  • Business
  • 2,240 Sq. Ft.
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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!

Full Property Details for 342 E Sheridan St

General

  • Sold For: $300,000
  • Status: Closed
  • Type: Business
  • Source: 1404
  • MLS ID: 145037
  • Added to Site: 975 day(s) ago

Business

  • Business Type: Business Opportunity

Additional Information

  • Business Amenities: Inside Storage

Parking

  • Parking: Parking Area, Street Parking, Paved, Five to Ten Cars

Location

  • Area: Ely/Winton
  • Location Details: Corner Lot, Downtown Area

Heating & Cooling

  • Heating Type: Propane, Forced Air

Utilities

  • Utility Description: City Sewer, City Water, Electric, Gas

Structural Information

  • Exterior Const.: Vinyl
  • Basement Desc.: Partial, Poured, Rock
  • Roof: Asphalt, Shingles
  • Square Feet: 2,240
  • Upper: 1,120 Sq. Ft.
  • Lower: 1,000 Sq. Ft.
  • Main/1st Level: 1,120 Sq. Ft.
  • Finished Total: 2,240 Sq. Ft.
  • Year Built: 1910

Lot Features

  • Lot Dimensions: 125 x 50
  • Frontage: City Street, State Highway
  • Zoning: C1

Disclosures and Reports

  • Property ID: 030-0370-01030

Listed by z' Up North Realty

Listing agent

— 342 E Sheridan St —

  • z' Up North Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 342 E Sheridan St

School District:Ely Public School District
NameGradesDistance
Washington Elementary School, Ely, MN
520 East Harvey Street, Ely, MN 55731
PK-50.2 mi
Memorial Secondary
600 East Harvey Street, Ely, MN 55731
9-120.2 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 342 E Sheridan St

Date
Details
Price
Change
Source
1/24/2025
Sold
$300,000
—
MLS
7/26/2024
Price Reduced
$300,000
-11.5%
MLS
5/24/2024
Price Reduced
$339,000
-2.87%
MLS
3/16/2024
Price Reduced
$349,000
-4.38%
MLS
11/15/2023
Price Reduced
$365,000
-8.75%
MLS
5/21/2023
Listed
$400,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by z' Up North Realty

Recent Sales near 342 E Sheridan St

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343 E Harvey St, Ely, MN 55731 - Photo 1 Sold
$265,000

343 E Harvey St  Ely, MN 55731

  • Single Family
  • Closed
  • 4
    Beds
  • 1
    Total Bath
  • 1,976
    Sq. Ft.
Listed by Keller Williams Classic Realty NW - Ely
Sold by Bear Island Realty LLC
1 W Railroad St, Ely, MN 55731 - Photo 1 Sold
$285,000

1 W Railroad St  Ely, MN 55731

  • Single Family
  • Closed
  • 3
    Beds
  • 2
    Total Baths
  • 1,704
    Sq. Ft.
Listed by Keller Williams Classic Realty NW - Ely
Sold by Nonmember Office
11 Ahola Rd, Ely, MN 55731 - Photo 1 Sold
$272,000

11 Ahola Rd  Ely, MN 55731

  • Single Family
  • Closed
  • 4
    Beds
  • 3
    Total Baths
  • 2,367
    Sq. Ft.
Listed by Keller Williams Classic Realty NW - Ely
Sold by Grand Properties
1776 Grant McMahan Blvd, Ely, MN 55731 - Photo 1 Sold
$279,255

1776 Grant McMahan Blvd  Ely, MN 55731

  • Single Family
  • Closed
Listed by Bear Island Realty LLC

342 E Sheridan St, Ely, MN 55731 (MLS# 145037) is a Business property that was sold at $300,000 on January 24, 2025. Want to learn more about 342 E Sheridan St? Do you have questions about finding other Business real estate for sale in Ely? You can browse all Ely real estate or contact a Coldwell Banker agent to request more information.