400 Silver Street, Ironwood, MI 49938
- Added:
- Jun 30, 2026
- Days on Market:
- 3
- Last Refresh:
- Jul 2 at 9:06 am
Property Features for 400 Silver Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Exterior features
- Fence Owned
- Fencing
- Fenced
- Standard status
- Active
- Size
- 2,862 SF
- Lot size
- 0.15 Acres
Utilities
- Heating system
- Hot Water(Heating)
- Cooling system
- Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1886
- Roof type
- Asphalt
Listing agent TRACY DERIZZO License #6501405998 (906) 285-9851
Listing office ZAK'S REALTY 110 E Aurora Street, Ironwood, MI (906) 932-2688
Listing date Jun 30, 2026
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.
HighLights
- Historic property built in 1886 with updates and original tin walls and ceiling in the bar area
- Currently operating as an Airbnb
- Layout includes 7 bedrooms (one walk‑through), 2 full baths, and 2 1/2 baths
- Features 2 kitchens and 3 separate living room spaces
- Spacious bar area designed for entertaining
- Fenced outdoor area; public water; asphalt roof; hot water heating; wall/window A/C units
Overview
Located at 400 Silver Street in Ironwood, MI, the home is described as being just steps from bars and restaurants, and near the snowmobile/ATV trail. The property sits on a 0.15-acre lot, offering a compact setting with both interior gathering space and an exterior fenced area.
For buyers seeking a residence with an established short-term rental setup—or someone looking to operate a business or convert it into a one-of-a-kind home—the combination of bedroom count, multiple kitchens, and dedicated gathering space is a practical foundation. The current Airbnb operation suggests the property is already being used as a guest-ready lodging option, while the historic finishes and separate entertainment area can support a variety of lifestyle or hosting concepts.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $10.56 |
| − Vacancy | −$11.7k | −$4.09 |
| EGI | $18.5k | $6.47 |
| − OpEx | −$8.3k | −$2.91 |
| NOI | $10.2k | $3.56 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Ironwood
- County
- Gogebic
- State
- Michigan
- Longitude
- -90.177501
- Latitude
- 46.450172
