Multi-Floor Office Building with
1211 Ludington Street Escanaba, MI 49829
For Sale
$475,000
COMMERCIAL - Escanaba, MI
Property Size5,271 SF
Lot Size0.26 Acres
Price / SF$90.12
Days on Market99
Property Features for 1211 Ludington Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 5,271 SF
- Lot size
- 0.26 Acres
Utilities
- Water source
- Public
Building Details
- Year built
- 1946
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 233-7455
Listed By:
LUCAS GESTWICKI · License #6501433737
(906) 280-0570
Added: Apr 17
Changed: Jul 20
Last Checked: Jul 24 at 10:06AM
MLS# 50204688
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Well-maintained commercial office building totaling approximately 5,200 square feet, designed to support professional services and medical use. The main floor includes a spacious front entrance with stairs and a ramp for accessibility, plus six private offices and substantial open space that can accommodate cubicles or future buildouts. An elevator serves the first and second floors, and an extra-wide staircase connects the basement, first, and second floors. Upstairs offers an impressive conference room with views over Ludington Street, a small staff kitchen, one half bathroom and one full bathroom, along with additional storage rooms.
Across the alley, the property includes a blacktop parking lot described as 50 feet by 160 feet, and a spacious garage with electric.
Across the alley, the property includes a blacktop parking lot described as 50 feet by 160 feet, and a spacious garage with electric.
Key Highlights
- 5,200 sqft commercial office building - ideal for professional services, medical use, or investment.
- Includes a 50'x160' parking lot with black top and a spacious garage with electric.
- Features an elevator servicing the first and second floors.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.9k | $14.40 |
| − Vacancy | −$6.1k | −$1.15 |
| EGI | $69.8k | $13.25 |
| − OpEx | −$27.9k | −$5.30 |
| NOI | $41.9k | $7.95 |
5,271 SF · lease $14.40/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$772.6K
$676.0K – $901.3K
NOI $54,080 @ 7.0% cap · market cap 11.39%
Second Best
Healthcare Medical
$598.5K
$523.7K – $698.3K
NOI $41,898 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$1.03M
$902.9K – $1.20M
NOI $72,229 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
C2AE
Engineering Consultant
FAQs
What type of property is this?
Office building - Well-maintained multi-floor office with ramp accessibility, elevator service, and on-site parking lot with garage across the alley.
Where is this office building located?
The property is located at 1211 Ludington Street Escanaba, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 5,200 sqft commercial office building - ideal for professional services, medical use, or investment.; Includes a 50'x160' parking lot with black top and a spacious garage with electric.; Features an elevator servicing the first and second floors.
