Specialty Retail
For Sale
$250,000
816 Ludington Street, Escanaba, MI 49829
COM/IND/BUS OPP, Escanaba, MI
Property Size1,834 SF
Lot Size0.32 Acres
Price / SF$136.31
Days on Market230
Property Features for 816 Ludington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Lot features
Main Street
Subdivision
Escanaba (21010)
Standard status
Active
Size
1,834 SF
Lot size
0.32 Acres
Utilities
Water source
Public
Listing Agency:
PREMIER REAL ESTATE, INC.
(906) 786-5030
Listed By:
LORI RYMKOS · License #UPAR
(906) 280-3165
Added: Feb 2
Changed: Sep 7
Last Checked: Sep 20 at 3:06PM
MLS# 50198737
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 1,834-square-foot retail property sits on a 0.32-acre parcel in Escanaba and is zoned Commercial, with public water service. The sale includes an established specialty retail business, store fixtures, and inventory spanning intimate apparel, wigs and hair accessories, swimwear, headwear, lingerie, underwear, footwear, and adult wellness products. Bra inventory reaches 8,500 units, with sizing from AA through 56 O cup and options addressing specialty and medical-fit needs.
The operation includes the main Escanaba store and a satellite location in Houghton. Staffing consists of one manager and one employee who are expected to remain. The business accepts most insurance providers and has referral relationships with medical providers, along with repeat clientele. The property is located at 816 Ludington Street in Escanaba, Michigan 49829.
The operation includes the main Escanaba store and a satellite location in Houghton. Staffing consists of one manager and one employee who are expected to remain. The business accepts most insurance providers and has referral relationships with medical providers, along with repeat clientele. The property is located at 816 Ludington Street in Escanaba, Michigan 49829.
Key Highlights
- 1,834 SF retail property on a 0.32‑acre parcel
- Commercial zoning with public water service
- Up to 8,500 bras in inventory, sized from AA through 56 O cup
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,810
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,200
$316.2K
Cap Rate 7%
$225,857
$225.9K
Cap Rate 9%
$175,667
$175.7K
Market Conditions
NOI Build-Up for 1,834 SF
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.
Gross rent
$27.5K $15.00/SF
− Vacancy
−$4.9K −$2.69/SF
EGI
$22.6K $12.32/SF
− OpEx
−$6.8K −$3.69/SF
NOI
$15.8K $8.62/SF
Area
Delta County, MI
Vacancy
17.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,200
Cap Rate 7%
$225,857
Cap Rate 9%
$175,667
Alternative Uses
Best Use
Retail
$225.9K
$197.6K – $263.5K
NOI $15,810 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.0K
$314.1K – $418.9K
NOI $25,131 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 49829, MI
17,009
Population
8,729
Households
1.9
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
66.8 sq mi
ZIP Area
255
Density / Sq Mi
$45,808
Median Household Income
$31,366
Median Earnings
$667
Median Rent
$139,000
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Established specialty retailer with broad product inventory, trained staff, and an affiliated Houghton location.
Where is this retail space located?
The property is located at 816 Ludington Street Escanaba, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,834 SF retail property on a 0.32‑acre parcel; Commercial zoning with public water service; Up to 8,500 bras in inventory, sized from AA through 56 O cup
