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    1882 N Lakeshore Dr Ludington, MI 49431

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    For Sale
    $895,000

    COMMERCIAL - Ludington, MI

    Property size:
    3,480 SF
    Lot size:
    1.26 Acres
    Price / SF:
    $257/SF
    Added:
    Aug 13, 2025
    Days on Market:
    268
    Last Refresh:
    May 7 at 8:06 pm

    Property Features for 1882 N Lakeshore Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    11
    Rooms
    Bathroom 8, Bathroom 1, Bathroom 9, Bathroom 4, Bathroom 5, Bathroom 3, Bathroom 7, Bathroom 10, Bathroom 2, Bathroom 11, Bathroom 6
    Standard status
    Active
    APN
    53-007-103-049-00
    Size
    3,480 SF
    Lot size
    1.26 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lengthy legal - see attached
    Tax Annual Amount
    4320

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    2005
    Floors in Building
    2
    Number of units
    11
    Building materials
    Vinyl Siding
    Roof type
    Composition

    We can help!

    Listing Contact
    Debby Stevenson

    Listing agent Debby Stevenson License #6502347161

    Listing office Greenridge Realty S Rath 300 S Rath Ave Suite 101, Ludington, MI

    Listing date Aug 13, 2025

    MLS# 25041096

    Copyright © 2026 Michigan Regional Information Center, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two successful, turnkey businesses (motel and ice cream shop) in a prime tourist location offer immediate cash flow and growth potential.
    • The Lakewood Motel features nine updated units with kitchenettes, patios, and air conditioning, accommodating various rental options.
    • High‑visibility location near downtown Ludington, Ludington State Park, Hamlin Lake, and other attractions drives significant customer traffic to both businesses.
    • Ample parking available for trailers, boats, and RVs caters to a wide range of travelers.
    • The popular ''Scoops Treats and Eats'' ice cream shop and luncheonette has a proven track record of success.
    • Bonus living space above the ice cream shop provides additional income potential.

    Overview

    Turnkey Motel and Ice Cream Shop

    This property features two established businesses: Lakewood Motel and Scoops Ice Cream Shop. The motel is a year-round operation with nine updated units, each equipped with kitchenettes, patios, and air conditioning. Adjoining rooms offer flexible accommodations for larger groups. The property provides ample parking for trailers, boats, and RVs, with both paved and grassy areas. Units are available for daily, weekly, or monthly rentals, with some long-term leases in place. Additional income potential exists with a living space located above the ice cream shop. Scoops Treats and Eats is a seasonal ice cream shop and luncheonette known for its soft-serve ice cream, hand-dipped flavors, treats, and sandwich menu. The property is located approximately three miles from downtown Ludington and is near Ludington State Park, Hamlin Lake, Stearns Park Beach, and Cartier Park Campground. The location provides high visibility and customer traffic during peak season. The property is situated on a 1.26-acre lot. The building size is 3,480 square feet. This combination of hospitality and retail businesses offers immediate cash flow potential in a high-traffic tourist area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    BR scoops Grocery & Convenience Store

    Suggested Use

    Restaurant Law Firm Gym & Fitness Center Hotel & Motel Kitchen & Bath Showroom Grocery & Convenience Store Bar & Pub Wine and Liquor Store Plumbing Service (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ludington Beach House, Beachside — 120 N Lakeshore Dr, Ludington, MI 49431
    • Ludington Pier House Motel — 805 W Ludington Ave, Ludington, MI 49431
    • Snyder's Shoreline Inn — 903 W Ludington Ave, Ludington, MI 49431
    • Water's Edge Vacation Rentals — 809 W Ludington Ave, Ludington, MI 49431
    • The Dock House — 706 W Loomis St, Ludington, MI 49431

    Location Insight

    • Map
    • Local Demand
    City
    Ludington
    County
    Mason
    State
    Michigan
    Longitude
    -86.459434
    Latitude
    43.990564

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    FAQs

    What type of property is this?
    Motel - Successful motel and ice cream shop near Ludington State Park.
    Where is this motel located?
    The property is located at 1882 N Lakeshore Dr Ludington, MI.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: Two successful, turnkey businesses (motel and ice cream shop) in a prime tourist location offer immediate cash flow and growth potential.; The Lakewood Motel features **nine updated units with kitchenettes, patios, and air conditioning**, accommodating various rental options.; High‑visibility location near downtown Ludington, Ludington State Park, Hamlin Lake, and other attractions drives significant customer traffic to both businesses.
    (231) 510-5727
    We can help!
    Listing Contact
    Debby Stevenson
    Real Estate License ID: 6502347161
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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