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    208 S Sophie Bessemer, MI 49911

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    Claim this Listing
    For Sale
    $149,900

    1 to 4 Units,Investment - Bessemer, MI

    Property size:
    3,966 SF
    Lot size:
    0.07 Acres
    Price / SF:
    $37/SF
    Added:
    Apr 3, 2026
    Days on Market:
    36
    Last Refresh:
    May 8 at 6:06 am

    Property Features for 208 S Sophie

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Interior features
    Cable TV Available, Living Quarters Attached, Pole Sign, Private Restrooms, Restroom(s)
    Standard status
    Active
    APN
    2751-00-101-100
    Size
    3,966 SF
    Lot size
    0.07 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2080.34

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1914
    Building materials
    Block
    Roof type
    Rubber
    Architectural style
    Other

    We can help!

    Listing Contact
    NANCY ZAK
    NANCY ZAK

    Listing agent NANCY ZAK License #6501351668

    Listing office ZAK'S REALTY 110 E. Aurora Street, Ironwood, MI

    Listing date Apr 3, 2026

    MLS# 50203256 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.

    HighLights

    • Commercial building with attached 3‑bedroom living quarters
    • Prime downtown location on Main Street in Bessemer, MI
    • Currently operating as a saloon with a fully equipped bar (over 20' long, coolers, ice machine)
    • Updated interior, ready for immediate use or reinvention
    • Includes furniture, appliances, and equipment (excluding personal items)
    • Convenient access to Iron Belle Trail, snowmobile/ATV trails, and parking behind the building

    Overview

    Commercial Building with Living Quarters

    Located in downtown Bessemer, this commercial building features living quarters above. Currently operating as the "Spinning Spur Saloon", the property is situated in a location suitable for various uses. The main level includes a bar that is over 20 feet long, complete with a back bar featuring coolers and an ice machine. Additional seating is available at high-top tables with bar stools. The front sitting area is furnished with leather furniture and a TV. The back room is equipped with a pool table, low tables, and chairs. Upstairs, there is a fully functioning 3-bedroom living area. This space includes a living room, dining room, kitchen, and a main bathroom with a stack washer and dryer. Most of the upstairs furnishings, excluding a few personal items, are included. Parking spaces are located behind the building. The building has been updated. It is located near the Iron Belle Trail, snowmobile/ATV trails, and on the main street of Bessemer, MI, the home of the 4th of July festival. The property size is 3966 square feet and the lot size is 0.07 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Steph's Spinning Spur Bar & Pub

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Daycare Center Department Store

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

    Similar Places Nearby

    • J J's — 807 Eli Ave, Bessemer, MI 49911
    • Steph's Spinning Spur — 208 S Sophie St, Bessemer, MI 49911
    • Uncle Sam's Place — 105 E Mary St, Bessemer, MI 49911
    • Pit Stop Bar & Grill — 202 S Sophie St, Bessemer, MI 49911

    Location Insight

    • Map
    • Local Demand
    City
    Bessemer
    County
    Gogebic
    State
    Michigan
    Longitude
    -90.050688
    Latitude
    46.479693

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    FAQs

    What type of property is this?
    Bar & Pub - Commercial building with updated living quarters in downtown Bessemer.
    Where is this bar & pub located?
    The property is located at 208 S Sophie Bessemer, MI.
    What is the asking price?
    The asking price for this property is $149,900.
    What are key features of this property?
    This property features: Commercial building with attached 3‑bedroom living quarters; Prime downtown location on Main Street in Bessemer, MI; Currently operating as a saloon with a fully equipped bar (over 20' long, coolers, ice machine)
    (906) 364-5948
    We can help!
    Listing Contact
    NANCY ZAK
    NANCY ZAK
    Real Estate License ID: 6501351668
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    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.

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