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

    106 Cloverland Dr Ironwood, MI 49938

    Sponsored
    For Sale
    $200,000

    Established Restaurant, Hwy US 2, High Profits

    Property size:
    1,406 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    345
    This exceptional turnkey restaurant opportunity in Ironwood, MI, presents a rare chance to acquire a well-established and profitable business. Located on the highly visible US Highway 2, this 1,406 square foot eatery boasts a rich history, having been owned and operated by the same individual for 25 years, building a loyal customer base and reputation for excellent cuisine. The restaurant comfortably seats 45 patrons and includes all necessary equipment and furnishings, allowing for immediate income generation. Recent updates ensure the property is in excellent condition and ready for a new owner. The ample parking lot provides convenient access for customers. Situated on a 0.41-acre lot, this property offers significant potential for continued growth and success. The current owner is retiring and is willing to provide support to ensure a smooth transition for the new owner, offering valuable assistance in establishing the business. Priced at $200,000, this is a truly exceptional opportunity for an experienced restaurateur or a savvy investor looking for a proven, profitable business with a strong track record. The turnkey nature of this sale, combined with the established reputation and prime location, makes this a highly attractive investment. Don't miss this chance to own a thriving restaurant in a desirable location.

    Property Features for 106 Cloverland Dr

    General Information

    Property type
    Investment properties
    Square Feet
    1,406 SF
    Lot Size
    17,860 SF

    Building Details

    Year Built
    1950
    Property Profile Location Intelligence

    Current Use by Public Records

    Mike's Restaurant American Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Ironwood
    County
    Gogebic
    State
    Michigan
    Longitude
    -90.1723
    Latitude
    46.46354

    Nearby Similar for Sale

    • $215,000
      5,952 SF

      Downtown Ironwood Mixed-Use Investment Property

      Unique investment opportunity in historic downtown Ironwood, Michigan.
      105 S Suffolk St, Ironwood, MI 49938
      View Details
    • $219,900
      2,862 SF

      Historic Ironwood Property with Updates

      Updated historic property with endless potential in a prime location.
      400 Silver St, Ironwood, MI 49938
      View Details
    • $204,900
      1,952 SF

      Turn-Key Restaurant Opportunity in Ironwood

      Operational restaurant with bar and patio near Powderhorn Ski Hill.
      N11582 Black River Rd, Ironwood, MI 49938
      View Details
    • $30,000
      20,000 SF

      Jessieville Commercial Building Opportunity

      Two-story brick building in Jessieville, ready for renovation.
      1 Iron King Rd, Ironwood, MI 49938
      View Details
    • $199,000
      1,600 SF

      Established Bakery in Downtown Ironwood

      Turnkey bakery business for sale in downtown Ironwood, Michigan.
      230 E Aurora St, Ironwood, MI 49938
      View Details
    • $160,000
      2,781 SF

      Commercial Building on US 2

      2700 sq ft commercial building with limitless potential.
      135 E Cloverland Dr, Ironwood, MI 49938
      View Details
    • $160,000
      0.20 Acres

      Commercial Building on US 2

      2700 sq ft commercial building on US 2.
      135 Cloverland Dr E, Ironwood, MI 49938
      View Details
    • $117,900
      2,100 SF

      Downtown Ironwood Mixed-Use Investment

      Mixed-use property with commercial space and apartments in downtown Ironwood.
      122 W Aurora St, Ironwood, MI 49938
      View Details
    • $52,000
      2,756 SF

      Mixed-Use Building with Apartment

      2,756 sq ft commercial building with apartment and garage.
      100 Bonnie St, Ironwood, MI 49938
      View Details
    • $229,999
      1,952 SF

      Ironwood Restaurant - Turnkey Opportunity

      Established Restaurant, Ski Area Proximity, High Traffic
      N11582 Black River Rd, Ironwood, MI 49938
      View Details
    • $199,900
      3,784 SF

      Ironwood Industrial Property - Prime Location

      High-traffic industrial building, ideal for various uses.
      1301 Cloverland Dr, Ironwood, MI 49938
      View Details
    • $595,000
      8,640 SF

      Ironwood Cinema: Family Entertainment

      Established Movie Theatre, 8,640 sq ft, 2.54 acres
      932 Cloverland Dr, Ironwood, MI 49938
      View Details

    FAQs

    What type of property is this?
    Investment property - Established Restaurant, Hwy US 2, High Profits
    Where is this investment property located?
    The property is located at 106 Cloverland Dr Ironwood, MI.
    What is the asking price?
    The asking price for this property is $200,000.
    (906) 932-4110
    Request Owner's contact information
    106 Cloverland Dr Ironwood, MI 49938
    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.
    106 Cloverland Dr
    Ironwood, MI 49938
    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
    106 Cloverland Dr Ironwood, MI 49938
    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.