Listing provided courtesy of FIRST WEBER, INC- MLS# 50209660
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Request Info101 N Lowell StreetIronwood, MI 49938
Commercial · 13,062 Sq. ft. | 1.44 Acres$599,000
Active
101 N Lowell Street Overview
- Time on Site:
- 28 days
- Visits:
- 48
Investment Opportunity! The Norwegian; a historic gem offering 15 apartments along with an adjacent mixed use building offering a commercial space with a 2 bedroom apartment, plus a detached 3 car garage located in the revitalized Ironwood downtown district. Three story brick apartment building consists of a mix of ten studio units, one 1 bedroom unit, two 2 bedroom units and 1 three bedroom units all with kitchen appliances. Also included is an onsite office and additional storage rooms. Full basement features a laundry room with 2 newer washers and 2 newer dryers, tenant storage closets and several rooms for potential use. 2 year old central hot water boiler system and separate electrical meters with new 800 amp service. Rental history with steady income. Property manager currently in place or self manage. The adjacent 2 story mixed use building (#107) has separate entrances to both levels. Main level offers an open commercial space of 1200 sq ft, concrete floors, a temporary wall creating a front and back space and new wall mounted heater. This blank slate provides several possibilities for an additional income source. The upper level houses an updated 2 bedroom, 1 bath apartment with fireplace, updated appliances and new stackable washer/dryer. Here you will find lots of original features with the tall ceilings, rounded archways, crown molding, hardwood floors, large rooms and many closets. Newer vinyl windows, natural gas heat and metal roof. A 3 car detached garage built in 1981 sits at the back of the large gravel parking lot. This property offers 1.44 acres which runs parallel to the snowmobile and utv trails as well as the Iron Belle Trail. Schedule a time to take a look and get in on this investment opportunity.
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101 N Lowell Street Facts & Features
- Type Commercial
- Sq. ft. 13,062
- Price/Sq.ft. $46
- Lot 1.44 Acres
Details
General
Building Information
- Year Built: 1920
Business Information
- Business Name: The Norwegian
- Business Type: Apartment Bldg
Location/Region
- County Or Parish: Gogebic
- LOCATION: Corner Lot
- MLS Area Minor: Ironwood (27006)
- Municipality: Ironwood
Rent/Lease Information
- Lease Term: Month-To-Month, Heat Included, Security Deposit, Water Included, Pets Allowed
Tax Information
- Summer Tax: 10089.32
- Summer Tax Year: 2025
- Tax Assessed Value: $147,512.00
- Tax Year: 2025
- Winter Tax: 809.13
- Winter Tax Year: 2025
General Information
- Inclusions: Real Estate Only
- Ownership: LLC
- Property Type: COM/IND/BUS OPP
- Special Listing Conditions: Standard
- Zoning: Mixed Use
Interior
Building Information
- COMMERCIAL CEILING HGT: Less than 16 Ft.
Building Interior
- WATER HEATER: Electric
General Information
- Basement: Yes
- COMMERCIAL FEATURES: Cable TV Available, Cafe/Kitchen, Carpet, Concrete Floor, Internet Available, Living Quarters, Occupied, Outside Storage, Separate Meters, Trash Removal, Wood Floors
- Cooling: None
- Foundation Details: Basement
- Heating: Baseboard, Boiler, Forced Air, Hot Water
- Living Area: 13062
- Living Area Source: Appraisal
Room Information
- Living Room Level: No
Exterior
Parking Information
- Parking Features: 11-20 Spaces, Off Street, Parking Lot
Lot Information
- Lot Size: 80x100 + irregular lot
- Lot Size Acres: 1.44
- Water Source: Public Water
Waterfront/View
- Waterfront Features: None
- Waterfront: No
Building Exterior/Construction
- Construction Materials: Brick
- ROADS: City/County, Curbed, Paved Street
- Roof: Metal, Rubber
General Information
- Other Structures: Garage(s)
- Sewer: Public Sanitary
- Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Available, Sewer Connected, Internet DSL Available, Internet Spectrum
101 N Lowell Street Neighborhood
Community
49938 (Ironwood) Demographics
51
Median Age
29
Population Density (per sq. mile)
37%
College Educated
$36,994
Estimated Median Income
2,736
Estimated Total Home Owners
1,031
Estimated Total Renters
73% / 27%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.101 N Lowell Street Monthly Cost
101 N Lowell Street Market Data
Based on the last 30 days in this zip code
$242,895
Average List Price
$123
Average Price per Square Foot
8
Properties Sold
85
Average Days on Market
106
Properties for Sale