Property summary
This exceptional commercial building, located at 232 E Aurora St in Ironwood, Michigan, presents a compelling investment opportunity. Boasting 5,160 square feet, this 1955-built traditional office building enjoys a prime downtown location directly across from the Ironwood Carnegie Library. The property features two established front tenants, each occupying well-appointed spaces complete with reception areas, private offices, conference rooms, bathrooms, and basement storage. Significant potential exists for additional tenants or owner-occupied space in the rear and basement areas. The rear section includes two separate two-room units, each with a half-bath, plus a large open space with an overhead door, ideal for various uses. The basement offers a drive-in area, mechanical room, and two sizable bonus rooms for storage, along with two additional offices, a half-bath, and a shower room. Previously home to Captain Jack's Pasties, this building has been under the same family ownership since the early 1970s, offering a history of stability and potential for continued success. The property's central location and versatile layout make it an attractive prospect for a variety of commercial ventures. The asking price is $103,000. The property is situated in Gogebic County, Michigan, zip code 49938.
Property profile
VerifiedCap rate & NOI
Current use
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Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
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from $99/month
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Ironwood, MIZoning
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Zoning designation
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