3232 Frank Pipp DrIron Mountain, MI 49801

Property Details for 3232 Frank Pipp Dr

Lot size

4.00 AC

Property size (Sq ft)

15,616 SF

Property type

Commercial real estate

APN

051-700-200-00

APU

5170020000

Description

This exceptional self-storage investment opportunity in Iron Mountain, Michigan, presents two single-story buildings totaling 42,000 square feet of rentable space, encompassing 156 units. Built in 1987 and renovated in 2020, the property boasts a remarkable 95% occupancy rate as of January 18, 2024, generating significant income. Situated on a four-acre lot, the property offers ample space for future expansion. The facility includes 100 parking spaces and is conveniently located off US Highway 2, on the edge of town. The property's zoning is commercial, and the land value is $10.33 per square foot. The asking price is $1,800,000, translating to $42.86 per square foot and $11,538.46 per unit. This owner-user investment presents a compelling opportunity for substantial returns. The property's APN is 05170020000. This is a multi-tenant property with consistently high occupancy rates, making it an attractive investment for those seeking a stable and profitable venture.

• Alternative Use

  Use

  Valuation

  Residential

  $3,271,827

  Hospitality

  $2,996,976

  Educational

  $2,493,449

  Medical

  $2,579,202

  Retail

  $3,878,698

Location Insight

City

Iron Mountain

County

Dickinson

State

Michigan

Latitude

45.8459

Longitude

-88.0548

CBSA code

27020

CBSA name

IRON MOUNTAIN, MI-WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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