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Property profile & analytics
OFF-MARKET
Turn key restaurants
321 Genesee St, Iron River, MI 49935-1353
Individually Owned
Free & Clear
Property ID
US43-3308612
Property summary
AI-generated overview
This 2,300 square foot retail space, located at 321 W Genesee St in Iron River, Michigan (49935), presents a unique investment opportunity. Built in 1900, this commercially zoned property sits on a 0.08-acre lot (APN: 054-121-006-00) and boasts a prime Main Street location, ensuring high visibility and foot traffic. Currently configured as a restaurant with a seating capacity of approximately 90, the property includes a fully equipped kitchen, ready for immediate use by a new owner. An additional outdoor dining/enclosed kitchen area is also available, currently utilized for BBQs and fundraising events. The established restaurant benefits from a loyal customer base and a strong reputation within the Iron River community, known for its support of local businesses. This presents significant potential for expansion, including catering services or event hosting. The asking price is $349,500 ($151.96/sq ft). Serious inquiries only
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Total area
2,020 SF
Lot
0.08 ac (3,485 SF)
APN
054-121-006-00
UPID
US43-3308612
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
-
Main Street Cafe Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
BRENDA K DAVIS
BRENDA K DAVIS
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Iron River submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iron River 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Property tax & assessments
Assessed value
$75,040
Assessed 2023
Previous assessed
$62,770
+19.5% YoY
Assessed land
$1,050
Assessed improvement
$73,990
Land market value
$2,100
Improvement market value
$147,980
Total market value
$150,080
Applied tax rate
54.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Heating
FORCED AIR
Stories
1
Total area
2,020 SF
Lot
0.08 ac (3,485 SF)
APN
054-121-006-00
UPID
US43-3308612
Jurisdiction
IRON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
FORCED AIR
Stories
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
BRENDA K DAVIS
Individual
Free & Clear · 0 yrs held
Mailing address
321 W GENESEE ST, IRON RIVER, MI 49935-1353
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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