156 Cloverland Dr, Ironwood, MI 49938-1228
This exceptional 6,300 square foot commercial property located at 156 E Cloverland Dr, Ironwood, MI, presents a compelling investment opportunity. Situated on a 0.73-acre lot with convenient access to US 2, this high-visibility location boasts a prime commercial setting. Previously operating as the popular Maplewood Steakhouse, the building is ideally suited for a variety of commercial ventures. The expansive layout includes a large wrap-around bar with seating for 25+, a spacious open dining and bar area, and a meticulously designed kitchen featuring ample prep space, a waitress station, and a dishwashing area. A private dining area adds to the versatility. The property also includes substantial storage, large walk-in coolers, separate men's and women's restrooms, and a dedicated blacktopped parking area. Recent upgrades include a new rubber roof (2023), new insulation (2023), an updated HVAC system, and a new water heater. A liquor license is available for transfer. This well-maintained building offers a rare chance to acquire a quality commercial property in a thriving Ironwood location. The property's size, location, and recent improvements make it an attractive investment with significant upside potential.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C-3 · Ironwood, MIIronwood. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.