Versatile Mixed-Use Commercial
507 Tower Ave Superior, WI 54880
For Sale
$399,900
Historic building with retail, office, and garage space.
Property Size1,800 SF
Price / SF$222.17
Days on Market324
Property Features for 507 Tower Ave
General Information
Standard status
Active
Size
1,800 SF
Listing Agency:
Edina Realty, Inc. - Duluth
(612) 819-1455
Listed By:
Julie Brown
(612) 819-1455
Source:
Exprealty
Added: Sep 9, 2025
Changed: Jul 10
Last Checked: Jun 26 at 9:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Edina Realty, Inc. - Duluth
Investment Insights
Based on property information with market context.
This twentieth-century commercial building offers a blend of character and versatility. Formerly a grocery store, the property has been adapted into office and retail space with semi-living quarters. An additional shop and garage, equipped with a Mac lift, expands its functionality for a variety of uses. The property benefits from excellent visibility and a high daily traffic count. Vacant lots provide off-street parking. Located just south of the Anchor Bar and High Bridge, the property offers easy access and a steady flow of potential clientele. The 1,800 square foot property is suited for retail, office, service-based operations, or a creative mixed-use concept.
Key Highlights
- Prime location with excellent visibility and high daily traffic count.
- Versatile commercial building suitable for retail, office, service‑based operations, or mixed‑use concepts.
- Additional shop/garage equipped with a Mac lift.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.1k | $23.40 |
| − Vacancy | −$6.3k | −$3.51 |
| EGI | $35.8k | $19.89 |
| − OpEx | −$9.0k | −$4.97 |
| NOI | $26.9k | $14.92 |
1,800 SF · lease $23.40/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$383.6K
$335.7K – $447.5K
NOI $26,852 @ 7.0% cap · market cap 6.71%
Second Best
Retail
$315.6K
$276.1K – $368.2K
NOI $22,090 @ 7.0% cap · market cap 5.52%
Theoretical Best
Specialty Retail
$567.5K
$496.6K – $662.1K
NOI $39,727 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building with retail, office, and garage space.
Where is this mixed-use property located?
The property is located at 507 Tower Ave Superior, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Prime location with excellent visibility and high daily traffic count.; Versatile commercial building suitable for retail, office, service‑based operations, or mixed‑use concepts.; Additional shop/garage equipped with a Mac lift.
