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    Ishpeming, MI Palmer, MI Marquette, MI Champion, MI Gwinn, MI Miami, FL Skandia, MI Republic, MI
    Turnkey Restaurant & Rental Income
    Updated: Sep 18, 2025
    Turnkey Restaurant & Rental Income

    305 Iron Street, Negaunee, MI 49866

    $750,000
    5,356 sqft
    Turnkey restaurant and bar (Jackson’s Pit) with established business and loyal customer base.
    Includes valuable Class C liquor license, Sunday Sales permit, and additional bar license for outdoor events.
    Located in Negaunee's revitalized downtown Social District, benefiting from high visibility and foot traffic.
    Features five residential rental units on the second floor, providing immediate passive income.
    Opportunity to increase rental income from the apartments for added value.
    View details

    This listing looks promising.

    Here's a quick look at some key insights for

    305 Iron Street, Negaunee, MI 49866,

    View Property Analytics

    • Est. Cap Rate

      8.8%
      Above avg (5.9%)

    • Est. NOI

      $66K
      Annual

    • Price @ 7% Cap

      $939K
      Above asking

    • Last Sold

      Aug 2013
      $175K

    • Property Type

      Commercial (General)
      Built 1890
    View Property Analytics
    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 1 Active listings in Negaunee, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

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

    10-Unit Multifamily Apartment Building
    10-Unit Multifamily Apartment Building

    42280 Willson Memorial Drive, Chassell, MI 49916

    $640,000
    8,184 sqft 1.03 AC lot

    A renovated, smoke-free 10-unit apartment property with coin laundry, tenant-controlled HVAC, and extensive parking.

    View details
    10-Unit Apartment Building on US-41
    10-Unit Apartment Building on US-41

    42280 Willson Memorial Drive, Chassell, MI 49916

    $640,000
    8,184 sqft 1.03 AC lot

    10-unit apartment building with studio through two-bedroom units, updated interiors, parking, coin laundry, and sprinkler system.

    View details
    Marquette 5-Plex Income Opportunity
    Marquette 5-Plex Income Opportunity

    421 N Front Street, Marquette, MI 49855

    $525,000
    4,258 sqft 0.17 AC lot

    Five-unit apartment building near downtown Marquette.

    View details
    Luxury Waterfront Condominium Residences
    Luxury Waterfront Condominium Residences

    2401 N Lakeshore Blvd, Marquette, MI 49855

    Contact for pricing
    2,095 sqft

    Exclusive condominium development on Lake Superior with modern interiors.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Land Near Shepherd University
    Land Near Shepherd University

    8285 MARTINSBURG Pike, Shepherdstown, WV 25443

    $650,000
    3.70 AC lot

    Prime land near Shepherd University with development potential.

    View details
    Prime Development Land, Springfield MO
    Prime Development Land, Springfield MO

    N West Bypass, Springfield, MO 65802

    $2,850,000
    29.20 AC lot

    29.2 acres of retail-zoned land for mixed-use development.

    View details
    Central Business Zoned Development Land
    Central Business Zoned Development Land

    107 HOWARD Street, La Plata, MD 20646

    $250,000
    0.23 AC lot

    Central Business zoned parcel with plans for a three-story mixed-use building and 15 parking spaces.

    View details
    Detached Two-Family Residence
    Detached Two-Family Residence

    69 Martense Street, Brooklyn, NY 11226

    $1,888,888
    0.10 AC lot

    Detached two-family home with two 3-bedroom apartments and a semi-finished basement featuring a separate entrance.

    View details

    Negaunee, MI Apartment Buildings Market Trends and Statistics

    Explore 1 apartment buildings for sale in Negaunee, MI on our real estate platform. These investment opportunities span a total of 5,356 square feet of properties for sale, with an estimated market value of $750,000.

    Sale prices for two-family homes in Negaunee, MI start at $750,000, averaging $750,000, and reaching up to $750,000 — 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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    Demographics Overview

    Population 8,228
    Population Growth (5Y) +1.7%
    Median Household Income $83,433
    College Educated 42.4%

    High-Yield Neighborhoods for Investment

    Identify Negaunee submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49866 $750K

    Taxes & Financing

    Tax Rate (average for all types) 4.64%
    Property Tax per SF $81.75 per SF
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Marquette County

    New Delisted

    Total CRE Inventory on Market (SF)

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