232 Aurora StIronwood, MI 49938

Property Details for 232 Aurora St

Year built

1955

Lot size

0.13 AC

Property size (Sq ft)

4,128 SF

Zone code

C-2

Property type

Office properties

Property subtype

Office buildings

APN

52-22-329-140

APU

5222329140

Description

This exceptional commercial building, located at 232 E Aurora St in Ironwood, Michigan, presents a compelling investment opportunity. Boasting 5,160 square feet, this 1955-built traditional office building enjoys a prime downtown location directly across from the Ironwood Carnegie Library. The property features two established front tenants, each occupying well-appointed spaces complete with reception areas, private offices, conference rooms, bathrooms, and basement storage. Significant potential exists for additional tenants or owner-occupied space in the rear and basement areas. The rear section includes two separate two-room units, each with a half-bath, plus a large open space with an overhead door, ideal for various uses. The basement offers a drive-in area, mechanical room, and two sizable bonus rooms for storage, along with two additional offices, a half-bath, and a shower room. Previously home to Captain Jack's Pasties, this building has been under the same family ownership since the early 1970s, offering a history of stability and potential for continued success. The property's central location and versatile layout make it an attractive prospect for a variety of commercial ventures. The asking price is $103,000. The property is situated in Gogebic County, Michigan, zip code 49938.

• CAP approach

  CAP return

  Valuation

  6%

  $758,954

  6.5%

  $700,573

  7%

  $650,532

• Comparable approach

  Method

  Valuation

  Relative Method

  $210,693

  Geo Method

  $210,693

• Alternative Use

  Use

  Valuation

  Residential

  $868,711

  Hospitality

  $795,734

  Educational

  $662,042

  Medical

  $684,810

  Retail

  $1,029,842

Location Insight

City

Ironwood

County

Gogebic

State

Michigan

Latitude

46.4554

Longitude

-90.1675

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.