507 Victoria Ave
Thunder Bay, ON
- 2 bath
- 17,500 sqft
- Commercial 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.
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Listing Details
- Taxes (2025)
- $5,210
- Originally Listed
- $899,500
- Listed
- June 1, 2026
Price History
Property
- Construction
- Brick
- Roof
- Tar and Gravel, Flat, Membrane
- Foundation
- Poured Concrete
- Interior
- Other
- Lot Size
- 57.91 x 150 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
Utilities
- Sewer
- Sanitary+Storm
- Heat Source
- Gas
Location & Legal
- Cross Street
- Between May Street and Brodie Street
- Parcel Number
- 620740070
- Occupancy
- Owner
Commercial
- Business Type
- Retail Store Related
Included
- Inclusions
- Fridge, stove, washer in the studio area - some furnishings negotiable
- Exclusions
- None
- Rental Items
- None
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
Commercial in Thunder Bay · last 12 months
- Median sold price
- $408,750
- Homes sold
- 370
- Median days on market
- 15
- Sale-to-list price
- 106.7%
Based on 370 recorded sales of commercial properties in Thunder Bay over the last 12 months.
Listed by
Century 21 Superior Realty Inc.
Walk Score
Walk
Transit
Bike
Scores by Walk Score®
Location
Street View
Commercial figures
- Annual property tax
- $5,210
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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