Sale Price $449,000 - MLS: 202600761
Prime mixed-use investment on Main Street in charming Ely, IA. This versatile property offers multiple income streams with commercial space at street level and 4 residential rental opportunities (1 down, 3 above). Excellent visibility and foot traffic support a variety of business uses, while residential units benefit from strong local demand. Ideal for investors or owner-occupants seeking steady cash flow and long-term appreciation. Located just minutes from Cedar Rapids and Iowa City, combining small-town appeal with convenient access to major markets. A rare opportunity to add a flexible, income-producing asset to your portfolio. Listing includes vacant lot next to building. Plans available upon requests for future build-out of additional rental units.
MLS #: 202600761
Sale Price: $449,000
Year Built: 1890
Sq Ft: 5600.0
Business: Retail, Other, Mixed
Construction: Brick
Floor Type: Carpet, Vinyl
Financing:
Utilities: Electricity Available, Underground Utilities, City Water
Acreage: 0.13
Lot: 80x70
Frontage: County Road, Paved
Energy Generation:
Heat/Cooling: Forced Air, Central Air, Zoned
Information deemed reliable but not guaranteed
 | Christy Sands 319-329-8008 |
 | Jess Andersen 319-360-6445 |