232 Aurora St 19, Ironwood, MI 49938-2112
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.
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Edward Jones - Financial Advisor: Eric D Riegler Financial Advisor
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
C-2 · Ironwood, MIIronwood. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.