Escanaba Office Space For
2209 Ludington Road Escanaba, MI 49829
For Sale
$375,000
COMMERCIAL - Escanaba, MI
Property Size2,600 SF
Lot Size0.16 Acres
Price / SF$144.23
Days on Market778
Property Features for 2209 Ludington Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,600 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 3481
Utilities
- Water source
- Public
Building Details
- Year built
- 1900
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 233-7455
Listed By:
LUCAS GESTWICKI · License #6501433737
(906) 280-0570
Added: Jun 7, 2024
Changed: May 21
Last Checked: Jul 24 at 1:06PM
MLS# 50144705
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.
This commercial property in Escanaba, Michigan, offers 2,800 square feet of office space suitable for sale or lease. The layout includes 10 individual offices, a conference room, and a large entry area designed to accommodate clients and customers. Situated in close proximity to the intersection of US 2/41 and M-35, the property benefits from its location near this highly traveled area, potentially attracting walk-in traffic. The lot size is 0.16 acres.
Key Highlights
- High walk‑in traffic potential due to proximity to US 2/41 and M‑35 intersection.
- 2,800 sq ft of office space.
- Includes 10 individual offices.
Financial Insights For Office B
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 | $46.8k | $18.00 |
| − Vacancy | −$11.2k | −$4.32 |
| EGI | $35.6k | $13.68 |
| − OpEx | −$8.9k | −$3.42 |
| NOI | $26.7k | $10.26 |
2,600 SF · lease $18.00/SF/yr · vacancy 24.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$381.1K
$333.5K – $444.6K
NOI $26,676 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.0K
$445.4K – $593.8K
NOI $35,628 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - 2,800 SF office building near US 2/41 and M-35.
Where is this office units located?
The property is located at 2209 Ludington Road Escanaba, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: High walk‑in traffic potential due to proximity to US 2/41 and M‑35 intersection.; 2,800 sq ft of office space.; Includes 10 individual offices.
