308 Iron Street is an opportunity to own a historic mixed-use building right in the middle of downtown Negaunee, with commercial space on the main floor and two impressive residential units above. For someone who has been thinking about opening a business of their own, this is a location worth considering. Downtown Negaunee has seen significant investment and improvement over the past several years, with major infrastructure and streetscape projects, new public spaces, events, and continued support for new and expanding businesses. Negaunee feels increasingly active, attracting both public and private investment along with a healthy demand for homes and apartments in the area. The main floor of 308 Iron Street is currently set up as commercial space with a mostly open layout plus additional offices or storage areas. Hardwood floors, high ceilings, wainscoting, and exposed brick make the space incredibly charming and wonderfully historic. The space would work well for retail, office, studio, or a number of other uses. There is also a rear entrance from the parking area along Jackson Street and a full basement with plenty of storage. Upstairs are two large residential units that genuinely feel like they belong in a major city like Chicago or New York. Incredibly high ceilings and lots of windows allow natural light to pour in over the hardwood floors. An owner could live above their business in a beautiful unit with a large bathroom finished in marble tile and its own steam room. Or, you could choose to rent the units out for an additional revenue stream. The building also has separate heating systems for each level. With commercial space along Iron Street, residential income potential upstairs, and a downtown that has undergone substantial investment in recent years, 308 Iron Street gives its next owner a lot of different ways to make the building work for them. Schedule your showing today!
Fantastic investment opportunity in the City of Negaunee! This well-maintained front and back duplex offers excellent income potential, a 2-car garage, and additional off-street parking, all within close proximity to the Iron Ore Heritage Trail, parks, and downtown amenities. The front unit features a charming retro-style kitchen, spacious living room, formal dining room, three upstairs bedrooms, and a full bath. The back unit features beautiful hardwood floors and includes a spacious eat-in kitchen with a walk-in pantry, a large living room, a cozy office or den, and two generously sized upstairs bedrooms served by a full bath. Major updates include a new furnace in the back unit and updated electrical panel, along with a newer roof and rebuilt chimneys, providing added value and peace of mind. Whether you're looking to live in one unit while generating rental income or add a solid property to your investment portfolio, this versatile duplex is an outstanding opportunity!
The size of this property and its units is a great indicator of what a massive opportunity this is! This four-unit home in the City of Negaunee has been in the same family for decades and has been well cared-for, but is ready to have some new life breathed into it by its next owners. The units are a spacious 1200 sqft each, two with three bedrooms and two with two bedrooms. Three of the units could be considered move-in ready; the two upper units have been recently updated while the two lower units could use some sprucing up and modernizing, unless you're seeking that vintage look! The home has a spacious full basement for additional storage and oversized access doors to help with moving things in and out. The current tenants are on month-to-month leases. The two car garage rounds out the features of the property, and its location is easily accessible in residential Negaunee with an alley running behind the home. This could be a fantastic, income-generating property for those looking for a rewarding project! See agent remarks for breakdown of utility meter separation.
Negaunee is located in Michigan. Negaunee, Michigan has a population of 4,657. Negaunee is more family-centric than the surrounding county with 38.57% of the households containing married families with children. The county average for households married with children is 26.28%.
The median household income in Negaunee, Michigan is $57,145. The median household income for the surrounding county is $57,981 compared to the national median of $69,021. The median age of people living in Negaunee is 38.2 years.
The average high temperature in July is 77.5 degrees, with an average low temperature in January of 4.1 degrees. The average rainfall is approximately 32.5 inches per year, with 157.3 inches of snow per year.
