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.
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.
Ely is located in Iowa. Ely, Iowa has a population of 2,163. Ely is more family-centric than the surrounding county with 43.28% of the households containing married families with children. The county average for households married with children is 31.95%.
The median household income in Ely, Iowa is $99,083. The median household income for the surrounding county is $70,360 compared to the national median of $69,021. The median age of people living in Ely is 36.4 years.
The average high temperature in July is 84.2 degrees, with an average low temperature in January of 11.2 degrees. The average rainfall is approximately 36.4 inches per year, with 28.2 inches of snow per year.
