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Property profile & analytics
OFF-MARKET
Estimated value
$420,000
Manufacturing properties
1231 Wall St Ironwood, MI 49938-1764
Individually Owned
Absentee Owner
Free & Clear
Property ID
US43-3043231
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2003
Total area
6,352 SF
Lot
1.74 ac (75,794 SF)
Zoning code
I
APN
52-23-202-051
UPID
US43-3043231
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$987k
Blend (final)
Blend
$420k
Owner & transaction history
NORTH HIGBEE STREET CTB
NORTH HIGBEE STREET CTB
Zoning & alternative use
I · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The I industrial district is established for the purpose of encouraging within it the development of manufacturing, processing, storage and office establishments as ones in which the principal use of land is for industrial activities wholly compatible with all other uses permitted in this district.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
302.39 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$875,000
+36.4%
Office building
$740,000
+15.3%
Restaurant
$675,000
+5.7%
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
INDUSTRIAL (GENERAL)
$640,000
Current use
COMMERCIAL (GENERAL)
$875,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$740,000
Change: +15% · Conversion: Difficult
RESTAURANT
$675,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$420k
Range $378k – $462k · ±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
$66 / 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
$16,363
Tax year 2023
Assessed value
$227,033
Assessed 2023
Previous assessed
$221,283
+2.6% YoY
Effective rate
7.21%
On assessed value
Assessed land
$1,744
Assessed improvement
$225,289
Land market value
$3,488
Improvement market value
$450,578
Total market value
$454,066
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2003
Heating
FORCED AIR
Buildings
2
Stories
1
Total area
6,352 SF
Lot
1.74 ac (75,794 SF)
Zoning code
I
APN
52-23-202-051
UPID
US43-3043231
Jurisdiction
GOGEBIC
Zoning & alternative use
I · Ironwood, MIZoning I · permitted uses
I · Ironwood, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The I industrial district is established for the purpose of encouraging within it the development of manufacturing, processing, storage and office establishments as ones in which the principal use of land is for industrial activities wholly compatible with all other uses permitted in this district.
Zone name
Industrial
General category
INDUSTRIAL
Zone area
302.39 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$640,000
COMMERCIAL (GENERAL)
Est. value
$875,000
OFFICE BUILDING
Est. value
$740,000
RESTAURANT
Est. value
$675,000
INDUSTRIAL (GENERAL) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
2003
Heating
FORCED AIR
Stories
1
Buildings
2
Lot
1.74 ac
Current owner
From public records · entity-resolved
NORTH HIGBEE STREET CTB
Individual
Free & Clear · 0 yrs held
Mailing address
1325 WALNUT ST, IRONWOOD, MI 49938-1076
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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