Commercial Kitchen with Bakery
230 E Aurora Street, Ironwood, MI 49938
For Sale
$189,000
COM/IND/BUS OPP, Ironwood, MI
Property Size1,600 SF
Lot Size0.13 Acres
Price / SF$118.13
Days on Market98
Property Features for 230 E Aurora Street
General Information
Property type
Property subtype
Zoning
Zoning description
Parking features
Subdivision
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Amenities
bistro-style seating
large front windows
back loading area
private office
ample storage
three-phase electrical system
A/C unit
mural
Building Details
Year built
Roof type
Listing Agency:
PINE ROAD REALTY, LLC
(906) 675-8901
Listed By:
HELENA LONGHINI · License MI #6501449634
(906) 285-9868
Added: Aug 4
Changed: Oct 8
Last Checked: Nov 9 at 10:06AM
MLS# 50217293
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.
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Investment Insights
Based on property information with market context.
This 1,600-square-foot commercial kitchen occupies a brick building constructed in 1953 and currently accommodates a bakery operation. The sale includes bakery equipment, fixtures, and existing inventory, including a Pavailler steam injection oven, two prep stations, an 8-by-10-foot walk-in cooler, three-compartment and hand sinks, air conditioning, and a customer-facing retail area with bistro seating. Large front windows provide visibility into the production area, while the basement adds storage, a private office, and additional workspace.
The property has a new three-phase electrical system, forced-air heat, central air, a rubber roof, and public water. Off-street parking, street parking, and a rear loading area support customer access and deliveries. Zoned Commercial, the building is positioned for continued food production or a new commercial kitchen concept, subject to applicable approvals.
The property has a new three-phase electrical system, forced-air heat, central air, a rubber roof, and public water. Off-street parking, street parking, and a rear loading area support customer access and deliveries. Zoned Commercial, the building is positioned for continued food production or a new commercial kitchen concept, subject to applicable approvals.
Key Highlights
- 1,600‑square‑foot commercial kitchen in a 1953 brick building
- Pavailler steam injection oven, bakery equipment, fixtures, and existing inventory included
- New three‑phase electrical system supports commercial kitchen operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,609
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,180
$332.2K
Cap Rate 7%
$237,271
$237.3K
Cap Rate 9%
$184,544
$184.5K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$24.8K $15.48/SF
− Vacancy
−$1.0K −$0.65/SF
EGI
$23.7K $14.83/SF
− OpEx
−$7.1K −$4.45/SF
NOI
$16.6K $10.38/SF
Area
Gogebic County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,180
Cap Rate 7%
$237,271
Cap Rate 9%
$184,544
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.
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Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Dining 35%
Ben Franklin
Shops & Services
2,528 visits/mo
0.1 miles
Domino's Pizza
Dining
1,602 visits/mo
0.1 miles
Carquest Auto Parts
Shops & Services
450 visits/mo
0.2 miles
Demographics for 49938, MI
7,340
Population
4,728
Households
1.6
Avg Household Size
49
Median Age
23%
College-Educated
95%
High-School Grad
225.6 sq mi
ZIP Area
33
Density / Sq Mi
$44,379
Median Household Income
$34,553
Median Earnings
$590
Median Rent
$95,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Updated brick commercial kitchen with bakery equipment, prep areas, retail seating, storage, and delivery access.
Where is this commercial kitchen located?
The property is located at 230 E Aurora Street 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: 1,600‑square‑foot commercial kitchen in a 1953 brick building; Pavailler steam injection oven, bakery equipment, fixtures, and existing inventory included; New three‑phase electrical system supports commercial kitchen operations
