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    Soudan, MN Ely, MN Embarrass, MN Cook, MN Virginia, MN Orr, MN Babbitt, MN Biwabik, MN
    Mixed-Use Property with Attached Garage
    Updated: Aug 21
    Mixed-Use Property with Attached Garage

    602 Main Street, Tower, MN 55790

    $375,000
    Main floor leased to a bar and liquor store
    Upper level currently used for City office space
    Attached 35x48 garage for vehicles and equipment
    Additional city lot provides off‑street parking
    Built in 1939 with wood‑frame construction
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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 Active listings in Tower, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Turnkey Restaurant and Apartments
    Turnkey Restaurant and Apartments

    216 E Sheridan St, Ely, MN 55731

    $390,000
    6,800 sqft

    Purchase a fully equipped restaurant space with four apartments above, totaling about 6,800 square feet.

    View details
    Turnkey Restaurant with Upstairs Apartment
    Turnkey Restaurant with Upstairs Apartment

    201 S 3rd St., Virginia, MN 55792

    $420,000

    Turnkey restaurant property in B1 zoning with steam heat, shingle roof, and an upstairs apartment used as office and break room.

    View details
    New Multi-Tenant Retail Center
    New Multi-Tenant Retail Center

    1462 S 12th Avenue West, Virginia, MN 55792

    Contact for pricing

    Newly constructed shopping center with national credit tenants including Caribou Coffee and Verizon, plus one available space.

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    Mixed-Use Building in Downtown Ely
    Mixed-Use Building in Downtown Ely

    216 E Sheridan St, Ely, MN

    Contact for pricing
    8,078 sqft 0.14 AC lot

    Two-story building with restaurant and four apartments in Ely.

    View details

    Tower, MN Restaurants Market Trends and Statistics

    Explore 1 restaurants for sale in Tower, MN on our real estate platform.

    Sale prices for restaurant properties in Tower, MN average $375,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Bars & Pubs 1

    Demographics Overview

    Population 1,933
    Population Growth (5Y) -3.5%
    Median Household Income $74,732
    College Educated 46.0%

    Taxes & Financing

    Tax Rate (average for all types) 2.45%
    Property Tax per SF $30.81 per SF
    Tax Rate vs County Average 0.14 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in St. Louis County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in St. Louis County

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