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Property profile & analytics
OFF-MARKET
Estimated value
$1,460,000
Hotels
1117 Cloverland Dr, Ironwood, MI 49938-1601
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US43-3249858
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1996
Total area
25,540 SF
Lot
1.04 ac (45,302 SF)
Zoning code
C-3
APN
52-23-101-210
UPID
US43-3249858
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
-
Miracle-Ear Hearing Aid Store Hearing Aid Repair Service
-
AmericInn by Wyndham Ironwood Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.46M
Owner & transaction history
Desanto Investments Of Ironwood LLC · 17 yrs held
Desanto Investments Of Ironwood LLC
since 2009
4 recorded transactions
Zoning & alternative use
C-3 · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ironwood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ironwood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,155,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,895,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.46M
Range $1.31M – $1.61M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$57 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$53,725
Tax year 2023
Assessed value
$753,742
Assessed 2023
Previous assessed
$709,905
+6.2% YoY
Effective rate
7.13%
On assessed value
Assessed land
$61,399
Assessed improvement
$692,343
Land market value
$122,798
Improvement market value
$1,384,686
Total market value
$1,507,484
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Buildings
1
Stories
2
Total area
25,540 SF
Lot
1.04 ac (45,302 SF)
Zoning code
C-3
APN
52-23-101-210
UPID
US43-3249858
Jurisdiction
GOGEBIC
Zoning & alternative use
C-3 · Ironwood, MI
Zoning C-3 · permitted uses
C-3 · Ironwood, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ironwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.2M
RETAIL STORES
Est. value
$1.9M
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1996
Heating
FORCED AIR
Stories
2
Buildings
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Desanto Investments Of Ironwood LLC
Entity
Mailing address
1367 WILLOW ST APT #449, MINNEAPOLIS, MN 55403-2593
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2024
—
Desanto Investments Of Ironwood INC
—
Deed
related
$2,000,000 · Us Small Business Administration, A Gove
Aug 9, 2021
—
Desanto Investments If Ironwood INC
—
Deed
related
$3,260,000 · Western National Bank
Apr 8, 2019
—
Desanto Investments Of Ironwood INC
—
Deed
related
$2,062,727 · Western National Bank
Feb 17, 2009
—
Desanto Investments Of Ironwood LLC
Goldin Snow Country LLC
Warranty Deed
$1,397,500 · First National Bank Of Deerwood
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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