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    OFF-MARKET
    Turn key restaurants

    156 Cloverland Dr, Ironwood, MI 49938-1228

    6,183 SF 0.73 ac lot Built 1939
    Entity Owned ~ Est. High Equity
    Property ID
    US43-3274202
    Property summary
    AI-generated overview

    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
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 1939
    Total area 6,183 SF
    Lot 0.73 ac (31,799 SF)
    Zoning code C-3
    APN 52-15-382-060
    UPID US43-3274202
    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
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    Blend (final) Blend
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    Owner & transaction history
    Tarasco Holdings LLC
    Tarasco Holdings LLC
    since 2025
    Last sale
    $267,750
    2 recorded transactions
    2025
    $267,750
    2012
    Zoning & alternative use
    C-3 · Ironwood, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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