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    Versatile Commercial Flex Building Title is generated by Realmo AI

    719 Douglas Boulevard, Ironwood, MI 49938

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    New
    Pending
    $125,000

    COMMERCIAL - Ironwood, MI

    Property size:
    4,251 SF
    Lot size:
    0.44 Acres
    Added:
    Jun 1, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 5 at 11:06 pm

    Property Features for 719 Douglas Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Pending
    Size
    4,251 SF
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3065

    Utilities

    Heating system
    Forced Air, Oil, Hot Water(Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Roof type
    Shingle, Rubber

    We can help!

    Listing Contact
    GAYLE COLASSACO

    Listing agent GAYLE COLASSACO License #UPAR

    Listing office FIRST WEBER, INC 101 E Mary Street, Bessemer, MI

    Listing date Jun 1, 2026

    MLS# 50209699

    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

    • 4,000+ SF one‑level commercial building on four city lots with multiple business‑ready interior spaces and an open‑concept area
    • Updates include heated tile flooring at the main entrance, updated electrical, newer furnace, central air, and a new gas water heater
    • Public water and sewer lines replaced in 2025; older hot water boiler system also present
    • Three separate entrances plus an interior garage parking bay with a loading dock for deliveries
    • Parking lot has chip and seal surfacing for approximately 15 vehicles
    • Central air and forced‑air oil hot water heating; built in 1930 with shingle and rubber roofing

    Overview

    This well-maintained one-level commercial flex building was originally built in 1900 and is set on a slab foundation. The interior includes several office spaces, flexible room layouts created with temporary partition walls, and an open-concept area suited to a range of operations. Key building improvements include heated tile flooring at the main entrance, updated electrical, a newer furnace and central air conditioning, and a new gas water heater. Public water and sewer lines were replaced in 2025, and an older hot water boiler system is also present. For day-to-day convenience, the building offers a kitchen area, restroom, and laundry area. Two electric fireplaces are included within the office or main gathering spaces, helping create a client- and staff-friendly environment.

    The property includes three separate entrances, which can support multiple workflows or customer and staff access. An interior garage parking bay includes a loading dock for easier deliveries. Outside, vinyl siding and a shingle roof complement the property’s strong visibility, along with a newer chip and seal parking lot that can accommodate approximately 15 vehicles.

    With its flexible configuration, multiple entrances, and loading dock capability, the building is well suited to service-oriented businesses, small to mid-sized office users, or operators looking for adaptable space with updated building systems in a convenient Ironwood location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ironwood
    County
    Gogebic
    State
    Michigan
    Longitude
    -90.169762
    Latitude
    46.462286

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    FAQs

    What type of property is this?
    Flex space - Well-maintained flex facility with multiple entrances, office rooms, and a loading dock for practical day-to-day operations.
    Where is this flex space located?
    The property is located at 719 Douglas Boulevard Ironwood, MI.
    What is the asking price?
    The asking price for this property is $125,000.
    What are key features of this property?
    This property features: 4,000+ SF one‑level commercial building on four city lots with multiple business‑ready interior spaces and an open‑concept area; Updates include heated tile flooring at the main entrance, updated electrical, newer furnace, central air, and a new gas water heater; Public water and sewer lines replaced in 2025; older hot water boiler system also present
    (906) 364-0621
    We can help!
    Listing Contact
    GAYLE COLASSACO
    Real Estate License ID: UPAR
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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.

    More about this property
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