Property summary
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.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-3 · Ironwood, MIZoning
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Zoning designation
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The district profile from the municipal source: what is on file for C-3 in Ironwood, MI.
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