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$159,000 -$10,000 (-5.92%) Price Reduced

  • For Sale
  • Active
  • Commercial
  • 1,512 Sq. Ft.
  • 0.117 Acres
  • Updated 8 hours ago
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Located in a prime downtown location just off a busy main street/hwy with high traffic flow, and excellent visibility, this unique commercial property offers a fantastic opportunity for a business with the added benefit of residential living quarters above. The spacious office area on the main floor is perfect for a variety of businesses, whether you're looking to set up an office, retail space, or professional services. Large windows allow for excellent visibility and natural light, while the open floor plan offers flexibility to customize the space to suit your specific needs. The upper level provides private living quarters w/3 bedrms, 1 bth, and kitchenette. Bonus 2 stall garage! With its unbeatable location near beautiful Lake Vermilion, this property offers access to the surrounding community and outdoor attractions. Whether you're starting a new venture or expanding an existing one, this property offers a unique blend of commercial and residential space that is hard to come by.

Full Property Details for 507 Main St

General

  • Price: $159,000
  • Taxes: $1,421 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6756464
  • Updated: 3/29/2026
  • Added to Site: 257 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 2

Bedrooms

  • Total Bedrooms: 3

Exterior

  • Porch/Patio/Deck: Deck

Parking

  • Garage: Yes
  • Garage Description: 24 x 26
  • Garage Spaces: 2
  • Parking Features: Detached Garage, Garage Door Opener, On-Street Parking Only

Location

  • County: St. Louis
  • Township: Tower
  • Subdivision: Tower
  • Driving Directions: Hwy 169 to Tower to Main Street address

School Information

  • School District: 1046 - St. Louis County
  • High School District: St. Louis County

Heating & Cooling

  • Central air: Yes
  • Cooling Type: Central Air
  • Heating Type: Forced Air
  • Heating Fuel: Oil

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Separate, Hot Water Separate

Structural Information

  • Exterior Const.: Frame
  • Basement: Yes
  • Basement Desc.: Full, Concrete
  • Foundation Size: 1008
  • Roof: Asphalt
  • Disability Access: None
  • Square Feet: 1,512
  • Finished Down/Base.: 1,512 Sq. Ft.
  • Current Bldg. Use: Other
  • Year Built: 1940

Lot Features

  • Lot Size (Acres): 0.117
  • Lot Dimensions: 143 x 35
  • Frontage: Curbs, Street Lights, State Road, Storm Sewer, Highway
  • Zoning: Business/Commercial

Financial Considerations

  • Tax Amount: $1,421
  • Tax Year: 2025
  • Terms: Conventional, Cash

Disclosures and Reports

  • Legal Description: ELY 12.6 FT OF LOT 12 & ALL OF LOT 13 EX ELY 26 FT OF LOT 13, Block 20, Tower
  • Inclusions: Building, Land
  • Property ID: 80001002325

Listed by Vermilion Land Office, Inc.

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Listing agent

— 507 Main St —

  • Vermilion Land Office, Inc.

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NMLS#: 1598647

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Save up to an additional 20% by bundling your home and auto together!

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NMLS#: 1598647

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Find the right home insurance for your new home!

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Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 507 Main St

School District:St. Louis County School District
NameGradesDistance
Tower-Soudan Elementary School
415 North 2nd Street, Tower, MN 55790
PK-60.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 507 Main St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/29/2026
Price Reduced
$159,000
-5.92%
MLS
7/16/2025
Listed
$169,000
238%
MLS
2/04/2019
Sold
$50,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 507 Main St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,546
-3%
$57,600
1%
2024
$1,588
—
$57,200
9%
2024
$1,588
—
$52,500
1%
2023
$1,592
-3%
$51,900
—
2022
$1,648
11%
$51,900
7%
2020
$1,490
3%
$48,500
—
2019
$1,440
-1%
$48,500
—
2018
$1,456
-18%
$48,500
—
2017
$1,780
—
$48,500
—
2016
$1,784
-3%
$48,500
-3%
2015
$1,836
-35%
$49,800
-36%
2014
$2,823
-2%
$78,200
—
2013
$2,867
—
$78,200
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Vermilion Land Office, Inc.

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507 Main Street, Tower, MN 55790 (MLS# 6756464) is a Commercial property. 507 Main Street is currently listed for $159,000 and was received on July 16, 2025. Want to learn more about 507 Main Street? Do you have questions about finding other Commercial real estate for sale in Tower? You can browse all Tower real estate or contact a Coldwell Banker agent to request more information.

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