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    Property profile & analytics

    224 E Caspian Ave Caspian, MI 49915

    • Bars
    • 960 SF
    • 0.17 lot acres
    For Sale
    View listing
    $109,500
    Value Estimation
    Location Intelligence
    Property ID
    US43-3701454
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fuzz & Schmoos Mid City Bar & Grill / Bar

    Property Details for 224 E Caspian Ave

    Lot size
    0.17 lot acres
    Property size
    960 SF
    Property type
    Bars
    Property subtype
    Pubs
    APN
    051-164-006-00
    APU
    5116400600

    Description

    This well-established Caspian, MI bar, built in 1917, presents a unique investment opportunity. The main building, measuring 24x40 feet, boasts a 960-square-foot bar area with an inviting atmosphere, featuring newer flooring and a distinct Upper Peninsula vibe. A spacious 960-square-foot, two-bedroom apartment resides upstairs, offering additional income potential through rental. The property includes a well-organized kitchen equipped with a newer, four-year-old fryer (original cost $10,000), his and hers restrooms, and a back room with a walk-in cooler for beverage storage. A partial 10x13-foot basement houses a 15-year-old natural gas forced-air furnace and a four-year-old electric water heater. All buildings feature metal roofing. The sale includes all furniture, fixtures, and equipment, such as tables, chairs, stools, appliances, and a walk-in cooler

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Caspian
    County
    Iron
    State
    Michigan
    Longitude
    -88.6301
    Latitude
    46.0649

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $20,010
    $0.00
    $20,010
    -
    $40,020
    $0.00
    $40,020

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      200 Caspian Ave

      BAR, TAVERN • 1,400 SF
      200 Caspian Ave, Caspian, MI 49915-5116
      View Details
    • Value Estimation by Request
      2,990 SF

      329 Caspian Ave

      BAR, TAVERN • 2,990 SF
      329 Caspian Ave, Caspian, MI 49915-5119
      View Details
    • Value Estimation by Request
      1,320 SF

      240 Baltic Ave

      BAR, TAVERN • 1,320 SF
      240 Baltic Ave, Caspian, MI 49915-5122
      View Details
    • Value Estimation
      $355,000
      3,750 SF

      108 Caspian Ave

      CONVENIENCE STORE • 3,750 SF
      108 Caspian Ave, Caspian, MI 49915-9700
      View Details
    • Value Estimation by Request
      23,360 SF

      95 Spg Vly Ave

      STORE, RETAIL OUTLET • 23,360 SF
      95 Spg Vly Ave, Caspian, MI 49915
      View Details
    • Value Estimation by Request
      3,470 SF

      129 Sawyer St

      GROCERY, SUPERMARKET • 3,470 SF
      129 Sawyer St, Caspian, MI 49915
      View Details

    Similar Nearby for Sale

    • $109,500
      2,498 SF

      Established Bar with Income Potential

      Neighborhood bar with apartment and liquor license in Caspian, MI.
      224 E Caspian Ave, Caspian, MI 49915
      View Details
    • $249,000
      12,800 SF

      Caspian Commercial/Industrial Opportunity

      Commercial property with retail, living quarters, and large garage.
      100 W Caspian Ave, Caspian, MI 49915
      View Details
    • Contact for pricing
      0.24 Acres

      Residential Land in Caspian, MI

      Three city lots near trails and downtown Caspian.
      W Caspian Ave, Caspian, MI 49915
      View Details
    • $114,500
      2,498 SF

      Caspian Bar & Apartment Building

      Established Bar, 2-Bedroom Apartment
      224 Caspian Ave, Caspian, MI 49915
      View Details
    • $51,000
      2.38 Acres

      Land with Iron River Frontage

      2.38 acre parcel with 250 ft of river frontage.
      Tbd Mcgillis, Caspian, MI 49915
      View Details
    • $279,900
      12,800 SF

      Caspian Industrial Property - Huge Potential

      Meat Processing Plant, Huge Lot, Multi-Use
      100 Caspian Ave, Caspian, MI 49915
      View Details
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    Caspian, MI 49915
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    Realmo Value Estimation

    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.

    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.

    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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