421 S Suffolk Street Ironwood, MI 49938
COMMERCIAL - Ironwood, MI
- Added:
- Jun 2, 2026
- Days on Market:
- 41
- Last Refresh:
- Jul 12 at 12:06 am
Property Features for 421 S Suffolk Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Residential
- Parking features
- Off Street, Parking Lot
- Patio and Porch features
- Patio
- Exterior features
- Deck/Patio, Garden Area
- Standard status
- Active
- Size
- 7,160 SF
- Lot size
- 1.44 Acres
Utilities
- Heating system
- Baseboard, Electric (Heating)
- Cooling system
- Ceiling Fan(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1970
- Roof type
- Asphalt
Listing agent ELLEN WYSSLING License #UPAR-6502365975 (906) 364-0655
Listing office THE REAL ESTATE STORE 527 Lake St, Ironwood, MI (906) 932-5406
Listing date Jun 2, 2026
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.
Investment Insights
Based on property information with market context.
The property is located in Ironwood, MI, at 421 S Suffolk Street. Public remarks note it is positioned close to downtown amenities, with recreation nearby.
Ownership currently covers water, sewer, garbage service, snow removal, and lawn care, while tenants pay their own electric service, including electricity and heat. The property is also listed with a total size of 7,160 square feet on a 1.44-acre lot.
Key Highlights
- 8‑unit apartment building, each unit with 2 bedrooms and 1 bathroom, plus dedicated storage closet
- 8 garages included, with off‑street parking and a parking lot
- Each unit has a private deck or patio, plus property includes a garden area
Local Financial Insights For Apartment 5plus
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 | $75.6k | $10.56 |
| − Vacancy | −$29.3k | −$4.09 |
| EGI | $46.3k | $6.47 |
| − OpEx | −$20.8k | −$2.91 |
| NOI | $25.5k | $3.56 |
