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Property profile & analytics
OFF-MARKET
Commercial land

932 Cloverland Dr Ironwood, MI 49938-1504

2.54 ac lot
Individually Owned 7-yr Hold ~ Est. High Equity
Property ID
US43-2915264
Property summary
AI-generated overview

This exceptional business opportunity presents a well-established family entertainment center in Ironwood, MI. The property encompasses a four-screen movie theatre situated on a generous 2.54-acre lot, offering ample space and potential for expansion. The 8,640 square foot building, originally constructed in 1970 as a two-screen cinema, underwent a significant remodel in 1998, expanding to its current four-screen configuration and updated lobby. The theatre boasts four auditoriums of varying sizes: a Southwest theatre (40x40) seating 179, a Southeast theatre (30x40) seating 92, a Northwest theatre (30x40) seating 100, and a Northeast theatre (30x30) seating 80. All theatres feature fleck flooring and ample wheelchair-accessible seating. The property also includes a two-register concession stand, a vestibule ticket sales area, restrooms, and first-floor office space, along with upstairs storage. Significant upgrades have been made, including an 11-year-old Duralast roof, 10-inch fiberglass ceiling insulation, and four natural gas furnaces with 2-ton HVAC systems (approximately 13 years old). All necessary fixtures are included in the sale, encompassing projectors, a popcorn machine, ice machine, cotton candy machine, popcorn warmer, nacho cheese warmer, seating, seat replacement parts, and office supplies. The building and land are sold together, presenting a turnkey opportunity for a new owner to step into a thriving business. The property is located at 932 E Cloverland, Ironwood, MI, and is priced at $595,000.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 2.54 ac (110,642 SF)
Zoning code C-3
APN 52-14-360-010
UPID US43-2915264
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
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
Keweenaw Land Association · 7 yrs held
Keweenaw Land Association
since 2019
2 recorded transactions
2019
Price N/A
2016
Price N/A
Zoning & alternative use
C-3 · Ironwood, MI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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