$159,000

507 Main St Tower, MN 55790

Estimated payment $995/month

Total Views 14,671
3 Beds
1 Bath
1,512 Sq Ft
$105 Price per Sq Ft

Highlights

  • Deck
  • 2 Car Detached Garage
  • Forced Air Heating and Cooling System

About This Home

Located in a prime downtown location just off the main street/hwy with high traffic flow & excellent visibility, this unique residential/commercial property offers a fantastic opportunity for a business with the added benefit of residential living quarters above. The upper level provides private living quarters w/3 BRs, 1 bath, a kitchenette and an upper rear-facing deck. 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 & natural light, while the open floor plan offers flexibility to customize the space to suit your specific needs. AND THE Bonus is a 2-stall heated garage! With its unbeatable location near beautiful Lake Vermilion, this property offers access to the surrounding community & outdoor activities.

Listing Agent

Sherry Zupancich Anderson

Vermilion Land Office Inc License #40026207 Listed on: 07/07/2025

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,827

Year Built

  • Built in 1925

Lot Details

  • 4,792 Sq Ft Lot
  • Property is zoned Com

Parking

  • 2 Car Detached Garage

Home Design

  • Wood Frame Construction
  • Shingle Roof
  • Asphalt Roof
  • Vinyl Construction Material

Interior Spaces

  • 1,512 Sq Ft Home
  • 1.5-Story Property
  • Basement Fills Entire Space Under The House

Kitchen

  • Electric Range
  • Microwave

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Bathroom

Laundry

  • Electric Dryer
  • Washer

Outdoor Features

  • Deck

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Oil
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 080-0010-02325

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,827

Year Built

Built in 1925

Lot Details

4,792 Sq Ft Lot

Listing Details

  • Class: Residential
  • Construction: Wood Frame
  • Heat: Oil, Forced Air
  • Lvt Date: 07/08/2025
  • Main Level Bathrooms: .5
  • Number Of Bedrooms: 3
  • Parcel Code Number: 080-0010-02325
  • Patioporch: Deck
  • Real Estate Tax: 1827
  • Style: 1 1/2 Story
  • Type: Residential
  • Upper Level Bedrooms: 3
  • Year Built: 1925
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Total Finished Sq Ft: 1512
  • Bedroom 1: Size: 9'9x10'10, On Level: Upper
  • Total Bathrooms: 1
  • Appliances: Electric Range, Hood, Microwave, Refrigerator, Washer, Elec. Dryer
  • Basement: Full, Poured
  • Bedroom 2: Size: 12'4x13, On Level: Upper
  • Bedroom 3: Size: 12x12, On Level: Upper
  • Kitchen: Size: w/LR, On Level: Upper
  • Living Room: Size: 14'10x13, On Level: Upper
  • Other Room 2: Porch, Size: 11'6x13'7, On Level: Main
  • Other Room 3: Commercial, Size: 21'3x25, On Level: Main

Exterior Features

  • Exterior: Vinyl, Wood
  • Roof: Asphalt, Shingle

Garage/Parking

  • Garage: 2 Stalls, Detached
  • Garage Capacity: 2
  • Garage Size: 24x26

Utilities

  • Cooling: Central
  • Utilities: City Water, City Sewer
  • Water Heater: Electric

Lot Info

  • Lot Size: Dimensions: 140x36.5
  • Number Of Acres: 0.11
  • Zoning: Com

Map

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Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,546 $57,600 $4,600 $53,000
2023 $1,546 $57,200 $4,200 $53,000
2022 $1,588 $52,500 $4,200 $48,300
2021 $1,660 $51,900 $3,600 $48,300
2020 $1,490 $51,900 $3,600 $48,300
2019 $1,440 $48,500 $3,600 $44,900
2018 $1,456 $48,500 $3,600 $44,900
2017 $1,780 $48,500 $3,600 $44,900
2016 $1,784 $48,500 $3,600 $44,900
2015 $1,836 $49,800 $6,300 $43,500
2014 $2,823 $78,200 $6,300 $71,900
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/29/2026 03/29/26 Price Changed $159,000 -5.9% $105 / Sq Ft
07/16/2025 07/16/25 Price Changed $169,000 -4.0% $112 / Sq Ft
07/16/2025 07/16/25 For Sale $176,000 0.0% $116 / Sq Ft
07/16/2025 07/16/25 Off Market $176,000 -- --
07/08/2025 07/08/25 For Sale $176,000 -- $116 / Sq Ft
Source: Range Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $50,000 None Available
Contract Of Sale $50,000 None Available
Warranty Deed $50,000 None Available
Warranty Deed $37,000 Up North Title Inc
Quit Claim Deed -- Northeast Title Company
Warranty Deed $80,000 Northeast Title Company
Quit Claim Deed -- --
Quit Claim Deed -- --
Warranty Deed $25,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $50,000 Seller Take Back
Previous Owner $29,600 Commercial
Previous Owner $100,000 Commercial
Previous Owner $61,000 Commercial
Source: Public Records

Source: Range Association of REALTORS®

MLS Number: 148672

Range Association of REALTORS®

APN: 080001002325

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