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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
301 Suffolk St Ironwood, MI 49938-2027
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US43-3354580
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1952
Total area
3,007 SF
Lot
0.39 ac (16,988 SF)
Zoning code
C-1
APN
52-22-181-090
UPID
US43-3354580
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
-
Makela Pollack & Ahonen - William Joki CPA Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$615k
Comparable Approach
Comparable
$519k
Blend (final)
Blend
$565k
Owner & transaction history
Suffolk Street Rentals LLC · 1 yrs held
Suffolk Street Rentals LLC
since 2024
1 recorded transaction
Zoning & alternative use
C-1 · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$415,000
+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%
$665,000
6.5%
$615,000
7%
$570,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$350,000
Current use
COMMERCIAL (GENERAL)
$415,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$188 / 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
$4,761
Tax year 2023
Assessed value
$128,235
Assessed 2023
Previous assessed
$93,442
+37.2% YoY
Effective rate
3.71%
On assessed value
Assessed land
$11,160
Assessed improvement
$117,075
Land market value
$22,320
Improvement market value
$234,150
Total market value
$256,470
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
1952
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
3,007 SF
Lot
0.39 ac (16,988 SF)
Zoning code
C-1
APN
52-22-181-090
UPID
US43-3354580
Jurisdiction
GOGEBIC
Zoning & alternative use
C-1 · Ironwood, MI
Zoning C-1 · permitted uses
C-1 · 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
$350,000
COMMERCIAL (GENERAL)
Est. value
$415,000
OFFICE BUILDING Current
COMMERCIAL (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
1952
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
0.39 ac
Current owner
From public records · entity-resolved
Suffolk Street Rentals LLC
Entity
Mailing address
301 N SUFFOLK ST, IRONWOOD, MI 49938-2027
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2024
—
Suffolk Street Rentals LLC
—
Deed
related
$120,000 · The First National Bank Of Wakefield
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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