Turnkey Bakery Restaurant
230 Aurora St Ironwood, MI 49938
For Sale
$189,000
Fully renovated masonry storefront bakery with production kitchen, retail seating for up to 15, and a walk-in cooler.
Property Size1,600 SF
Price / SF$118.13
Days on Market366
Property Features for 230 Aurora St
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Building Details
Year Built
1953
Listing Agency:
First Weber - Bessemer
(906) 364-0621
Listed By:
Gayle Colassaco · License #7056294
(906) 364-0621
Source:
Northwoodswi
Added: Jul 29, 2025
Changed: Jul 28
Last Checked: Jul 29 at 12:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of First Weber - Bessemer
Investment Insights
Based on property information with market context.
Turnkey commercial bakery opportunity in a fully renovated masonry building with a brick exterior. The sale includes the building, all bakery equipment, and existing inventory. Interior spaces are designed for food production and customer service, including a premium Pavailler steam injection oven, dedicated prep space, sink, walk-in cooler, and a retail area with seating for up to 15 guests plus a public restroom.
A clean, dry basement offers additional storage, a private office, and usable workspace. The property also features convenient parking with street parking, rear parking, and a loading area for deliveries.
Reported major improvements include updated three-phase electrical service with transformer, updated plumbing, walk-in cooler, newer water heater, natural gas, central air conditioning, and a rubber membrane roof. The building is currently operating as a wholesale bakery built in 2017, with the current setup also supporting potential expansion into retail, café service, or additional wholesale accounts.
A clean, dry basement offers additional storage, a private office, and usable workspace. The property also features convenient parking with street parking, rear parking, and a loading area for deliveries.
Reported major improvements include updated three-phase electrical service with transformer, updated plumbing, walk-in cooler, newer water heater, natural gas, central air conditioning, and a rubber membrane roof. The building is currently operating as a wholesale bakery built in 2017, with the current setup also supporting potential expansion into retail, café service, or additional wholesale accounts.
Key Highlights
- Fully renovated 1,600 SF masonry building with brick exterior, built in 1953
- Wholesale bakery currently operating; sale includes building, all bakery equipment, and existing inventory
- Production kitchen with Pavailler steam injection oven imported from France, dedicated prep space, and sink
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 | $24.8k | $15.48 |
| − Vacancy | −$1.0k | −$0.65 |
| EGI | $23.7k | $14.83 |
| − OpEx | −$7.1k | −$4.45 |
| NOI | $16.6k | $10.38 |
1,600 SF · lease $15.48/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Industrial
$333.6K
$291.9K – $389.2K
NOI $23,349 @ 7.0% cap · market cap 12.35%
Second Best
Specialty Retail
$254.2K
$222.5K – $296.6K
NOI $17,796 @ 7.0% cap · market cap 9.42%
Theoretical Best
Office A
$339.8K
$297.3K – $396.4K
NOI $23,786 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Fully renovated masonry storefront bakery with production kitchen, retail seating for up to 15, and a walk-in cooler.
Where is this commercial kitchen located?
The property is located at 230 Aurora St Ironwood, MI.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Fully renovated 1,600 SF masonry building with brick exterior, built in 1953; Wholesale bakery currently operating; sale includes building, all bakery equipment, and existing inventory; Production kitchen with Pavailler steam injection oven imported from France, dedicated prep space, and sink
