Multifunctional Commercial Property in
629 CLOVERLAND DR, Ironwood, MI 49938
COMMERCIAL - Ironwood, MI
Property size:
19,500 SFLot size:
4.30 AcresPrice / SF:
$128/SF- Added:
- Apr 8, 2026
- Days on Market:
- 54
- Last Refresh:
- May 31 at 4:06 am
Property Features for 629 CLOVERLAND DR
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 10
- Rooms
- Bathroom 3, Bathroom 10, Bathroom 5, Bathroom 4, Bathroom 2, Bathroom 7, Bathroom 6, Bathroom 1, Bathroom 8, Bathroom 9
- Parking features
- Special Needs, Driveway
- Interior features
- Storage
- Exterior features
- HandicapAccessible
- Accessibility
- Accessible Approach with Ramp
- Standard status
- Active
- APN
- 52-21-202-120, 090
- Size
- 19,500 SF
- Lot size
- 4.30 Acres
Taxes and HOA fees
- Tax Description
- Full legal in documents.
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
- Flooring type
- Concrete, Tile, Carpet
- Building materials
- Frame, LogSiding, MetalSiding, Stone, WoodSiding
- Roof type
- Metal, Composition, Shingle
- Additional Structures
- Storage, Outbuilding
Listing agent RACHEL MARTIN License #60346 - 90 (715) 891-6686
Listing office REDMAN REALTY GROUP, LLC 231 Oneida St PO Box 1287, Minocqua, MI (715) 358-0450
Listing date Apr 8, 2026
MLS# 216417
Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑visibility location on US 2 with 4.3 acres for future expansion.
- 19,500 sq ft plaza built with high‑quality materials and standards.
- Currently operating with 8 tenants and generating almost $30K in gross lease income.
- Ample parking with black‑topped areas accommodating up to 85 vehicles.
- Includes a detached 38x28 garage and additional storage building.
- Equipped with security cameras, 3‑phase power, city sewer & water, and ADA compliance.
Overview
This commercial property, Sunnyside Plaza, is located in Ironwood, MI, and offers opportunities for entrepreneurs and investors. The property is situated in a visible location off US 2 and includes 4.3 acres across two parcels, allowing for future expansion. The 19,500 sq ft plaza was constructed with quality materials and standards, and it currently houses seven tenants, most of whom are long-term. Additionally, there is a second 800 sq ft building with an eighth tenant. The property features black-topped parking in the front and back, accommodating up to 85 vehicles. Additional structures include a 38x28 detached garage and a storage building. Security cameras are installed. The property is equipped with 3-phase power, city sewer and water, and is ADA compliant, with sidewalks. The exterior features half log and stone. Each unit has forced air and central air conditioning, and multiple front display windows. An attached garage includes an overhead door and additional access from a back city street. Unit square footage varies, and the layout can be adapted for various uses. The property currently generates almost $30,000 in gross lease income.
Local Financial Insights For Retail
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 | $301.9k | $15.48 |
| − Vacancy | −$12.7k | −$0.65 |
| EGI | $289.2k | $14.83 |
| − OpEx | −$86.8k | −$4.45 |
| NOI | $202.4k | $10.38 |
19,500 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.89M
$2.53M – $3.37M
NOI $202,427 @ 7.0% cap · market cap 8.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.14M
$3.62M – $4.83M
NOI $289,898 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Edward Jones - Financial ...
Financial Advisor
Ironwood VA Clinic
Medical Clinic
Ewing Sheri L ...
Pediatrician
Curry Park Campground
Campground & RV Park
Expensify
Corporate Office
Location Insight
- Map
- Local Demand
- City
- Ironwood
- County
- Gogebic
- State
- Michigan
- Longitude
- -90.1836033
- Latitude
- 46.463319
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Versatile commercial property with expansion potential on 4.3 acres.
Where is this shopping center located?
The property is located at 629 CLOVERLAND DR Ironwood, MI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High‑visibility location on US 2 with 4.3 acres for future expansion.; 19,500 sq ft plaza built with high‑quality materials and standards.; Currently operating with 8 tenants and generating almost $30K in gross lease income.
