Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    224 E Caspian Ave Caspian, MI 49915

    For Sale
    $109,500

    1 to 4 Units - Caspian, MI

    Property size:
    2,498 SF
    Lot size:
    0.17 Acres
    Days on Market:
    142
    Last Refresh:
    Dec 5 at 5:06 pm

    Property Features for 224 E Caspian Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    36051-164-006-00
    Interior features
    Alley, Cafe/Kitchen, Internet Available, Living Quarters Attached, Outbuilding(s), Public Restrooms, Sidewalks, Vinyl/Laminate Floors
    Exterior features
    Alley
    Size
    2,498 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1917
    Flooring type
    Laminate, Vinyl
    Roof type
    Metal
    Architectural style
    Other

    RE/MAX North Country (906) 875-6331 [email protected]

    Listing agent JORDYN LEONARDUZZI (877) 875-6331 License #6501454419

    Listing date Jul 17, 2025

    MLS# 50137186 Listing URL

    Copyright © 2025 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

    Established Bar with Income Apartment

    This established neighborhood bar is located in downtown Caspian, Michigan. Originally built in 1917 as an Ice Cream Parlor, it was converted into a tavern after prohibition. The property includes a spacious 960 square foot, 2-bedroom apartment upstairs, suitable for living or renting out for additional income. The interior features a clean and well-organized kitchen. The main building measures 24x40, providing 960 square feet for the bar area, with an additional ~578 square feet for the kitchen and backroom storage. A partial 10 x 13 basement features rock & mortar and poured concrete, and houses a 15-year-old natural gas forced air furnace and a 4-year-old electric water heater. The sale includes tables, chairs, stools, appliances, a walk-in cooler, and a pool table. A dart machine and jukebox are rented separately. An older garage at the alley provides additional storage. The property has metal roofing and some newer windows. Extra vinyl siding for the building is included. The interior has an inviting atmosphere with newer flooring and a U.P. vibe. His & hers restrooms are available, along with a back room for beverage storage and a walk-in cooler. The liquor license is included. The lot size is 0.17 acres. The property is zoned commercial and has a total living area of 2498 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Fuzz & Schmoos Mid ... Bar

    Suggested Use

    Building Supply Auto Repair Shop Hair Salon Wholesale Shop Clothing Store Auto Parts Store HVAC Service Storage Facility Bar & Pub Discount Store

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

    Similar Places Nearby

    The Cozee Bar, Fuzz & Schmoos Mid City Bar & Grill

    Location Insight

    • Map
    • Local Demand
    City
    Caspian
    County
    Iron
    State
    Michigan
    Longitude
    -88.629999
    Latitude
    46.064634

    Nearby Similar for Sale

    • $249,000
      12,800 SF

      Caspian Commercial/Industrial Opportunity

      Commercial property with retail, living quarters, and large garage.
      100 W Caspian Ave, Caspian, MI 49915
      View Details
    • $251,150

      Recycling Facility with Heavy-Duty Equipment

      Turn-key recycling facility on 17 acres with top-tier equipment.
      100 Axle Dr, Caspian, MI
      View Details
    • $279,900
      12,800 SF

      Caspian Industrial Property - Huge Potential

      Meat Processing Plant, Huge Lot, Multi-Use
      100 Caspian Ave, Caspian, MI 49915
      View Details
    • $114,500
      2,498 SF

      Caspian Bar & Apartment Building

      Established Bar, 2-Bedroom Apartment
      224 Caspian Ave, Caspian, MI 49915
      View Details

    FAQs

    What type of property is this?
    Bar - Neighborhood bar with upstairs apartment in downtown Caspian, Michigan.
    Where is this bar located?
    The property is located at 224 E Caspian Ave Caspian, MI.
    What is the asking price?
    The asking price for this property is $109,500.
    What are key features of this property?
    This property features: - Established neighborhood bar with liquor license included; - Spacious 2-bedroom apartment upstairs offers living or rental income; - Well-organized kitchen features a newer $10K fryer (4 years old)
    (877) 875-6331
    Request Owner's contact information
    224 E Caspian Ave Caspian, MI 49915
    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.
    224 E Caspian Ave
    Caspian, MI 49915
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    224 E Caspian Ave Caspian, MI 49915
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.