Property Description
A rare opportunity to own a versatile 11,040 sq ft commercial building in the heart of downtown Iron River, WI, ideally situated on the corner of US Hwy 2 and Main Street for maximum visibility and easy access. This property offers multiple income-producing possibilities with four distinct spaces under one roof. The main level features a 6-lane bowling alley spanning nearly 4,500 sq ft, providing a fun and timeless community attraction. Adjacent to it, a 3,500 sq ft bar area includes gaming tables, a stage for live entertainment, and plenty of seating, making it ideal for hosting events and gatherings. A separate 1,500+ sq ft restaurant area with a fully equipped commercial kitchen provides opportunities for food service expansion or a standalone dining concept. Upstairs, a spacious 1,500+ sq ft apartment offers 2 bedrooms, 1.5 baths, and an open living area, perfect for owner occupancy or rental income. Additional features include a 32x56 attached garage with three overhead doors, providing excellent storage, parking, or workspace options. All this sits on a 0.374-acre corner lot with city water and sewer, and natural gas service. Whether you’re seeking an investment, an owner-operator opportunity, or a redevelopment site in a high-traffic corridor, this property delivers versatility, visibility, and value in a thriving Northwoods community.
Interior Features
- Above Grade Finished Area: 11,040 SqFt
- Basement: Full
- Building Area Total: 11,040 SqFt
- Cooling: Central Air, Wall Unit(s)
- Flooring: Carpet
- Foundation: Block, Poured
- Heating: Baseboard, Forced Air, Radiant
- Interior Features: Furnished, Storage
- Living Area: 11,040 SqFt
Exterior Features
- Building Features: Private Restrooms
- Construction: Metal Siding, Stone, Vinyl Siding
- Lot Size: 0.37 Acres
- Road Type: City Street, Highway
- Sewer: Public Sewer
- Water Source: Public
Property Details
- 2024 Taxes: $6,076
- County: Bayfield
- Other Equipment: Compressor
- Possession: Close of Escrow, Subject To Tenant Rights
- Possible Use: Other, See Remarks
- Property Subtype: Commercial
- School District: Maple
- Status: Active
- Township: Town of Iron River
- Zoning: Commercial
- Listing Office: Woodland Developments & Realty
- Last Update: January 23rd @ 3:15 PM
