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    OFF-MARKET
    Office buildings

    232 Aurora St 19, Ironwood, MI 49938-2112

    4,128 SF 0.13 ac lot Built 1955
    Entity Owned 1-yr Hold Free & Clear
    Property ID
    US43-3368386
    Property summary
    AI-generated overview

    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
    Verified
    Property type Office buildings
    Use group OFFICE BUILDING
    Year built 1955
    Total area 4,128 SF
    Lot 0.13 ac (5,663 SF)
    Zoning code C-2
    APN 52-22-329-140
    UPID US43-3368386
    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
    • Edward Jones - Financial Advisor: Eric D Riegler Financial Advisor
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Jay Cares North LLC · 1 yrs held
    Jay Cares North LLC
    since 2024
    2 recorded transactions
    2024
    $96,000
    2019
    Zoning & alternative use
    C-2 · Ironwood, MI
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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