Property profile

202 W Genesee St Iron River, MI 49935

FOR SALE
Turn key restaurants
Property ID
US43-3945899
3,600 SF 0.08 ac lot
Entity Owned 16-yr Hold Free & Clear
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Property summary

AI-generated overview

This 3,576 square foot commercial building, located at 202 W Genesee in Iron River, Michigan, presents a fantastic business opportunity. Built in 1940, the property sits on a 0.08-acre lot (APN 26071) and is zoned for commercial use. Previously a restaurant, the building boasts a large bar area, upper-level booth seating, and a spacious back room ideal for private events or business functions, with a seating capacity of approximately 110 people. The building's layout allows for potential expansion with the addition of another full story. The property includes two furnaces (approximately 10 years old) and a roof (approximately 13 years old). A basement, formerly used as an archery range, offers additional space. The asking price is $59,000 ($47.51/sq ft). This vacant building is ready for a new owner to transform it into a thriving business. The property's prime downtown location in Iron River, MI (zip code 49935) offers excellent visibility and accessibility.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Total area 3,600 SF
Lot 0.08 ac (3,485 SF)
APN 054-115-016-00
UPID US43-3945899

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

202 W Genesee St Iron River, MI 49935
Iron River metro Census 300
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$355k

Owner & transaction history

since 2010
Last sale
$5,657
1 recorded transaction
2010
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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