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Property profile & analytics
OFF-MARKET
Retail space
407 3rd St Ishpeming, MI 49849-1702
Entity Owned
Absentee Owner
Free & Clear
Property ID
US43-2495584
Property summary
AI-generated overview
Located on Third Street, this property previously operated as an ice cream shop and benefits from foot traffic due to its proximity to the Iron Ore Heritage Trail and ATV trails. Situated on one of Ishpeming’s main roads, the property has potential for expansion, such as adding a café menu, outdoor seating, or offering more treats. The property has a living area of 692 square feet and a lot size of 0.11 acres.
Property profile
Verified
Property type
Retail space
Use group
COMMERCIAL (GENERAL)
Year built
1926
Total area
884 SF
Lot
0.12 ac (5,184 SF)
Zoning code
GR
APN
52-51-213-001-00
UPID
US43-2495584
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
-
The Ish Creamery Grocery & Convenience Store Specialty Food Shop
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
UP YOUR PROPERTIES LLC
UP YOUR PROPERTIES LLC
Zoning & alternative use
GR · Ishpeming, MI
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 Ishpeming submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ishpeming 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
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,929
Tax year 2023
Assessed value
$29,550
Assessed 2023
Previous assessed
$20,150
+46.7% YoY
Effective rate
6.53%
On assessed value
Total market value
$59,100
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
Retail space
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1926
Heating
FORCED AIR
Stories
1
Bathrooms
1
Total area
884 SF
Lot
0.12 ac (5,184 SF)
Zoning code
GR
APN
52-51-213-001-00
UPID
US43-2495584
Jurisdiction
MARQUETTE
Zoning & alternative use
GR · Ishpeming, MI
Zoning GR · permitted uses
GR · Ishpeming, MI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ishpeming. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1926
Heating
FORCED AIR
Stories
1
Bathrooms
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
UP YOUR PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
208 S 2ND ST, ISHPEMING, MI 49849-2006
Mailing matches property
Different — outreach signal
Owner-occupied
No
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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