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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Office buildings
216 Roosevelt St, Ironwood, MI 49938-1737
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3935866
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1992
Total area
6,720 SF
Lot
0.89 ac (38,768 SF)
Zoning code
C-3
APN
52-14-453-010
UPID
US43-3935866
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
Current use
Occupant on record · Public records
-
Assured Storage - Ironwood Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$743k
Blend (final)
Blend
$830k
Owner & transaction history
Wisconsin Secured Storage LLC · 1 yrs held
Wisconsin Secured Storage LLC
since 2024
6 recorded transactions
Zoning & alternative use
C-3 · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$925,000
+18.3%
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
OFFICE BUILDING
$780,000
Current use
COMMERCIAL (GENERAL)
$925,000
Change: +18% · Conversion: Easy
RESTAURANT
$715,000
Change: -8% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$675,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$830k
Range $747k – $913k · ±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
$124 / 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
$11,697
Tax year 2023
Assessed value
$181,996
Assessed 2023
Previous assessed
$154,564
+17.7% YoY
Effective rate
6.43%
On assessed value
Assessed land
$52,411
Assessed improvement
$129,585
Land market value
$104,822
Improvement market value
$259,170
Total market value
$363,992
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1992
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
6,720 SF
Lot
0.89 ac (38,768 SF)
Zoning code
C-3
APN
52-14-453-010
UPID
US43-3935866
Jurisdiction
GOGEBIC
Zoning & alternative use
C-3 · Ironwood, MI
Zoning C-3 · permitted uses
C-3 · Ironwood, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ironwood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$925,000
RESTAURANT
Est. value
$715,000
INDUSTRIAL (GENERAL)
Est. value
$675,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
INDUSTRIAL (GENERAL)
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
1992
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Wisconsin Secured Storage LLC
Entity
Mailing address
256TH SHADOW RDG DR, WAUKESHA, WI 53189-7711
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2024
$705,000
Wisconsin Secured Storage LLC
Assured Storage Holdings C LLC
Warranty Deed
$1,108,000 · Peoples State Bank
Oct 8, 2024
—
Wisconsin Secured Storage LLC
—
Deed
related
$705,000 · Assured Storage Holdings A LLC
Dec 23, 2019
—
Roosevelt Plaza LLC
Eve E Cottier
Warranty Deed
$244,000 · Us Bank NA
Jan 22, 2019
—
Assured Storage Holdings C LLC
—
Deed
related
$331,245 · Peoples State Bank
Jan 7, 2019
—
Assured Storage Holdings C LLC
Schultzs Mini Warehouse INC
Warranty Deed
$331,245 · Peoples State Bank
Dec 20, 2017
—
Schultzs Mini Warehouse INC
—
Deed
related
$49,854 · Integra First Federal Credit Union
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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