Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    202 W Genesee Iron River, MI 49935

    View on Map
    For Sale
    $119,900

    Investment - Iron River, MI

    Property size:
    3,236 SF
    Lot size:
    0.08 Acres
    Added:
    Dec 17, 2025
    Days on Market:
    105
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 202 W Genesee

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Off Street, Parking Lot
    Interior features
    220 Volt Power, Alley, Carpet, Electric Available, Fixtures, Furniture, Restroom(s), Sidewalks, Telephone
    Exterior features
    Alley
    Standard status
    Active
    APN
    054-115-016-00
    Size
    3,236 SF
    Lot size
    0.08 Acres

    Utilities

    Utilities
    Electricity Available, Phone Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1937
    Flooring type
    Carpet
    Building materials
    Brick, Concrete
    Roof type
    Flat, Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    NICOLE HEBERT
    NICOLE HEBERT

    Listing agent NICOLE HEBERT

    Listing office KELLER WILLIAMS CLASSIC REALTY NW 107 N Fourth Avenue, Iron River, MI

    Listing date Dec 17, 2025

    MLS# 50196262 Listing URL

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Iron River Commercial Building

    Located in downtown Iron River, this commercial building presents a repositioning opportunity. The 3,236 square foot structure, formerly a supper club, is suited for multiple commercial uses, including retail, fitness, salon, food service, or mixed-use concepts, subject to approvals. The property is located near ATV and snowmobile trails and surrounded by lakes and rivers. A newer roof has been installed, and a full clean-out has been completed. Electrical service is in progress. The property, situated on a 0.08-acre lot, is being sold as-is. It is located in Iron River, MI 49935. The zoning is commercial. This property is suitable for investors or owner-users seeking a value-add opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Iron River
    County
    Iron
    State
    Michigan
    Longitude
    -88.6403971
    Latitude
    46.0916167

    Nearby Similar for Sale

    • $349,000
      2,923 SF

      Turnkey Restaurant & Bar with Residence

      Commercial restaurant and bar with living space in Iron River.
      130 Washington, Iron River, MI 49935
      View Details
    • $275,000
      11,680 SF

      Iron River Commercial Storefront

      High-visibility commercial building with showroom and storage on 0.77 acres.
      32 N 4th, Iron River, MI 49935
      View Details
    • $129,900
      4,640 SF

      Commercial Building on US-2

      4,640 SF commercial building on 2.53 acres.
      4159 W US2, Iron River, MI 49935
      View Details
    • $99,000
      8,084 SF

      Historic Commercial Building, Iron River

      Historic building with potential for restaurant, brewery, retail, or office.
      208 Cherry, Iron River, MI 49935
      View Details
    • $130,000
      1,900 SF

      Versatile Commercial Property on Class A Road

      Commercial property with 1900+ sq ft building and additional structures.
      2.12 ac. Forbes, Iron River, MI 49935
      View Details
    • $399,900
      11,680 SF

      Iron River Commercial Property For Sale

      Successful appliance store with high-visibility frontage on M189.
      32 N 4th, Iron River, MI 49935
      View Details
    • $395,000
      18,000 SF

      Historical Church with Renovated Basement

      Unique 18,000 SF former church with turn-key living.
      121 N 5th, Iron River, MI 49935
      View Details
    • $299,900
      2,000 SF

      Ski Brule Duplex Investment Property

      Dual-unit chalet near Ski Brule, ideal for rental income.
      111 Little Deer, Iron River, MI 49935
      View Details
    • $284,900
      2,053 SF

      Versatile Duplex Near Ski Brule

      2-unit property near Ski Brule, ideal for rental or getaway.
      104 Sleepy Hollow, Iron River, MI 49935
      View Details
    • $74,900
      1,200 SF

      Downtown Iron River Commercial Building

      Commercial building in downtown Iron River with ample parking.
      206 E Genesee, Iron River, MI 49935
      View Details
    • $298,500
      20,000 SF

      Iron River Commercial Investment Opportunity

      Commercial building with rental income potential on 4.89-acre lot.
      3257 US2, Iron River, MI 49935
      View Details
    • $295,000
      2,300 SF

      Established Restaurant on Main Street

      Turnkey restaurant with high visibility and loyal customer base.
      321 W Genesee, Iron River, MI 49935
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial building with repositioning potential in downtown Iron River.
    Where is this retail space located?
    The property is located at 202 W Genesee Iron River, MI.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: Strong repositioning potential for multiple commercial uses; Newer roof and full clean‑out completed; Located near ATV and snowmobile trails, supporting year‑round traffic
    (906) 284-0216
    We can help!
    Listing Contact
    NICOLE HEBERT
    NICOLE HEBERT
    Real Estate License ID: UPAR
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!