507 Victoria Ave E
Thunder Bay, Ontario
- Retail
Opportunity awaits with this impressive 17,500 sq. ft. commercial building located in the heart of Thunder Bay's South Core. Positioned on Victoria Avenue, a corridor currently undergoing a major reconstruction project designed to revitalize the area and restore thorough traffic flow, this landmark property offers exceptional potential for investors, entrepreneurs, and developers alike. Rich in history and character, the building features soaring ceilings, stunning antique tin ceilings on the main floor, exposed brick walls, a striking rear mural, and expansive open-concept spaces that have most recently operated as an indoor marketplace. Spanning two levels plus a full basement, the property offers incredible flexibility for a variety of uses including retail, office space, mixed-use development, event space, studios, or commercial redevelopment. Additional features include two updated natural gas boilers (2016), predominantly LED lighting throughout, two bathrooms, a freight elevator system (currently not in use), a covered garage/loading dock, and upper-level living quarters complete with a gas fireplace. With its combination of size, character, history, and prime location in an area poised for renewed growth, this is a rare opportunity to acquire one of the South Core's most distinctive commercial properties. Endless possibilities await the next visionary owner. Visit www.century21superior.com for more info & pics.
Price History
Schools
Elementary
- McKellar Park Central Public School0.4 km
Public · Lakehead DSB · 130 students
Grade 3 reading: 90% met the provincial standard · Grade 6 math: 7% met the provincial standard
- Pope John Paul II Elementary School0.9 km
Catholic · Thunder Bay CDSB · 530 students
- Ogden Community Public School1.1 km
Public · Lakehead DSB · 170 students
Grade 3 reading: 94% met the provincial standard · Grade 6 math: 17% met the provincial standard
Secondary
- St Patrick High School1.5 km
Catholic · Thunder Bay CDSB · 1030 students
Grade 10 literacy: 76% met the provincial standard
- TB Catholic Alternative Education1.5 km
Catholic · Thunder Bay CDSB
- Lakehead Alternative School1.8 km
Public · Lakehead DSB
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area P7C
- Population
- 21,695
- Private dwellings
- 10,098
- Median age
- 42.4
- Average household size
- 2.2
- Median household income
- $72,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Retail in Thunder Bay · last 12 months
- Median sold price
- $410,000
- Homes sold
- 336
- Median days on market
- 15
- Sale-to-list price
- 106.8%
Based on 336 recorded sales of retail properties in Thunder Bay over the last 12 months.
Walk Score
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Location
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Mortgage Calculator
$173,000
Estimated Monthly Payment
$4,249
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $4,249/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $216/mo
Estimates only. Consult a financial advisor.
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