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Property profile & analytics
FOR SALE
Turn key restaurants

106 E Cloverland Dr Ironwood, MI 49938

1,406 SF 0.41 ac lot
Individually Owned Free & Clear
Property ID
US43-3777583
Property summary
AI-generated overview

This exceptional turnkey restaurant opportunity in Ironwood, MI, presents a rare chance to acquire a well-established and profitable business. Located on the highly visible US Highway 2, this 1,406 square foot eatery boasts a rich history, having been owned and operated by the same individual for 25 years, building a loyal customer base and reputation for excellent cuisine. The restaurant comfortably seats 45 patrons and includes all necessary equipment and furnishings, allowing for immediate income generation. Recent updates ensure the property is in excellent condition and ready for a new owner. The ample parking lot provides convenient access for customers. Situated on a 0.41-acre lot, this property offers significant potential for continued growth and success. The current owner is retiring and is willing to provide support to ensure a smooth transition for the new owner, offering valuable assistance in establishing the business. Priced at $200,000, this is a truly exceptional opportunity for an experienced restaurateur or a savvy investor looking for a proven, profitable business with a strong track record. The turnkey nature of this sale, combined with the established reputation and prime location, makes this a highly attractive investment. Don't miss this chance to own a thriving restaurant in a desirable location.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Total area 1,406 SF
Lot 0.41 ac (17,860 SF)
Zoning code C-3
APN 52-15-382-030
UPID US43-3777583
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Mike's Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
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Comparable Approach Comparable
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Blend (final) Blend
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Owner & transaction history
JEFFREY FEDERICO
JEFFREY FEDERICO
Zoning & alternative use
C-3 · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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