Property profile

930 Cloverland Dr Ironwood, MI 49938

OFF-MARKET
Auto shops
Property ID
US43-3935863
6,160 SF 1.08 ac lot
Individually Owned 5-yr Hold Free & Clear
Saved · see the list in your Dashboard

Property summary

AI-generated overview

This exceptional commercial property, located at 930 E Cloverland Dr in Ironwood, Michigan (49938), presents a lucrative investment opportunity. The 5,400-6,160 square foot building, constructed in 2003, sits on a 1.08-acre lot and boasts a prime highway location on US-2, ensuring high visibility and accessibility. The property features four units, two currently occupied by long-term tenants. One unit is configured as an event center with a recently remodeled kitchen and dining area, easily adaptable to restaurant use. A smaller garage/storage area with an overhead door is located at the rear. All units benefit from ample paved parking and attractive vestibules. A large marquee sign provides excellent highway visibility, and the easternmost unit includes a drive-through service window. The property also includes a substantial parking lot and a separate outbuilding (available for separate sale). The building features central A/C and forced-air heating, along with amenities such as meeting rooms, public restrooms, and a cafe/kitchen. The property is zoned commercial and has 21 parking spaces. The asking price is $449,000, with a land value of $72-$83 per square foot. Utilities include natural gas. This property offers significant potential for rental income or owner-operator use. The APN is 52-14-361-070.

Property profile

Verified
Property type Auto shops
Use group AUTO REPAIR, GARAGE
Total area 6,160 SF
Lot 1.08 ac (47,045 SF)
Zoning code C-3
APN 52-14-361-070
UPID US43-3935863

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Computer & Electronic Repair

Location

930 Cloverland Dr Ironwood, MI 49938-1546
Ironwood metro Census 950500
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$360k
CAP Approach CAP
by Request
Comparable Approach Comparable
$724k
Blend (final) Blend
$360k

Owner & transaction history

since 2021
1 recorded transaction
2021
Price N/A

Zoning & alternative use

C-3 · Ironwood, MI
Top alternative use upside
Commercial (general) $845,000 +62.9%
Office building $715,000 +37.7%
Restaurant $655,000 +26.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 930 Cloverland Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message