Building Details

Buildings 1

Tenancy Multi

Listing Agency: Anchor Realty j***@gmail.com Show Phone

Listed By: Chessica L Olson Show Phone

Source: Exprealty

Added: May 21 Changed: Aug 14 Last Checked: Aug 19 at 2:01PM

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Investment Insights

Based on property information with market context.

This historic mixed-use property combines two retail or commercial spaces with three upper-level apartments that are currently producing income. The building also provides substantial supporting space, including storage areas, a basement, warehouse-style garages with oversized doors, and a separate shop area.

Located at 601 Main St in downtown Tower, the property sits a few blocks from Lake Vermilion. Its combination of commercial suites, residential units, storage, garage, and workshop areas creates a varied physical layout within one building.

Key Highlights

• Two retail or commercial spaces
• Three upper‑level apartments currently producing income
• Warehouse‑style garages with oversized garage doors

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick HVAC Service Auto Repair Shop Auto Parts Store Storage Facility (Bike/Boat/Book/etc) Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

107

Businesses Nearby

Explore this area Business Placement

Demographics for 55790, MN

1,876

Population

2,390

Households

0.8

Avg Household Size

57

Median Age

34%

College-Educated

97%

High-School Grad

143.6 sq mi

ZIP Area

13

Density / Sq Mi

$74,732

Median Household Income

$43,456

Median Earnings

$630

Median Rent

$297,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two commercial suites and three upper-level apartments occupy a flexible building with storage, basement, garage, and shop space.

Where is this mixed-use property located?

The property is located at 601 Main St Tower, MN.

What is the asking price?

The asking price for this property is $339,900.

What are key features of this property?

This property features: Two retail or commercial spaces; Three upper‑level apartments currently producing income; Warehouse‑style garages with oversized garage doors