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    510 Lake St Ludington, MI 49431

    Sponsored
    For Sale
    $2,200,000

    COMMERCIAL - Ludington, MI

    Type:Retail
    Property size:
    52,000 SF
    Lot size:
    4.50 Acres
    Days on Market:
    11
    Last Refresh:
    Jan 5 at 4:06 pm

    Property Features for 510 Lake St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 1, Bathroom 4
    Bathrooms
    4
    APN
    53-051-590-001-00
    Size
    52,000 SF
    Lot size
    4.50 Acres

    Utilities

    Utilities
    Cable Available
    Water front features
    Lake
    Water front
    1

    Building Details

    Year built
    1924
    Floors in Building
    1
    Number of units
    1

    GREENRIDGE Realty-Ludington (231) 843-6868

    Listing agent Debby Stevenson (231) 510-5727

    Listing date Dec 26, 2025

    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.

    Overview

    Ludington Waterfront Development Opportunity

    This property, located in the city of Ludington, MI, presents a development and business opportunity with approximately 4.5+ acres situated on the shore of Pere Marquette Lake, which serves as the Lake Michigan port in the harbor town. The site features approximately 735 feet of water frontage and 502 feet of road frontage, along with 35 boat slips in the marina. The property is a prime development location for a condo community or for the rehabilitation of the existing building into new living spaces. The existing 50,000 square foot building has experienced a collapse on the East end, necessitating the removal of the structure. This legacy property offers the potential for conversion into a future vision.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Thompson Marina Marina Katfish Charters Fishing Charter FISH-n-TALES Charters Fishing Charter

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ludington
    County
    Mason
    State
    Michigan
    Longitude
    -86.442206
    Latitude
    43.948092

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    FAQs

    What type of property is this?
    Commercial land - 4.5+ acre waterfront property with development potential in Ludington, MI.
    Where is this commercial land located?
    The property is located at 510 Lake St Ludington, MI.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - Prime development opportunity on Pere Marquette Lake (Lake Michigan port).; - Approximately 4.5+ acres with **735 ft of water frontage.**; - Includes a **35-boat slip marina.**
    (231) 510-5727
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    510 Lake St Ludington, MI 49431
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    Ludington, MI 49431
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    510 Lake St Ludington, MI 49431
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