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    Turnkey Bar in Downtown Escanaba Title is generated by Realmo AI

    1117 Ludington Street, Escanaba, MI 49829

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    Claim this Listing
    For Sale
    $550,000

    COMMERCIAL - Escanaba, MI

    Property size:
    2,164 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $254/SF
    Added:
    Nov 19, 2025
    Days on Market:
    217
    Last Refresh:
    Jun 24 at 11:06 am

    Property Features for 1117 Ludington Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,164 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3911

    Utilities

    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    ROB SULLIVAN
    ROB SULLIVAN

    Listing agent ROB SULLIVAN License #6502362192

    Listing office NORTHERN MICHIGAN LAND BROKERS 325 Erickson, Marquette, MI

    Listing date Nov 19, 2025

    MLS# 50194649

    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.

    HighLights

    • Turnkey, fully operational bar in a high‑visibility downtown location with established customer loyalty.
    • Significant value‑add opportunity with an upstairs apartment space ready for renovation into housing, rental income, or office space.
    • Modern renovation with newer mechanicals and a functional layout for efficient bar operations.
    • Over 2,000 square feet of updated space with ample seating, group areas, and renovated restrooms.
    • Prime placement in Escanaba's developing downtown district.
    • Basement provides ample storage.

    Overview

    This commercial property in downtown Escanaba, Michigan, presents an opportunity for business ownership and rental income. The property is a fully operational bar situated along the city's high-visibility commercial corridors. The building features over 2,000 square feet of updated space, including newer mechanicals and a functional front-to-back layout. The basement provides storage, and both restrooms have been renovated. The front area of the pub offers seating and high-top tables, while the rear section provides space for groups, events, or additional entertainment. The pool tables are owned, while the dart boards, speaker system, and TouchTunes machines are leased. Upstairs, there is an apartment space where preliminary renovation work has begun, offering a value-add opportunity for owner-occupied housing, rental income, short-term lodging, or additional storage/office space. The property is known for its cocktails and energetic atmosphere, hosting celebrations, holiday gatherings, sporting events, hunting season festivities, and themed parties. The lot size is 0.08 acres.

    Local Financial Insights For Specialty Retail

    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 $39.0k $18.00
    − Vacancy −$1.0k −$0.47
    EGI $37.9k $17.53
    − OpEx −$9.5k −$4.38
    NOI $28.5k $13.15
    2,164 SF · lease $18.00/SF/yr · vacancy 2.60% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $406.5K
    $355.7K – $474.2K (±1% cap)
    NOI $28,454 @ 7.0% cap · market cap 5.17%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $423.6K
    $370.7K – $494.2K (±1% cap)
    NOI $29,653 @ 7.0% cap · market cap 5.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    South City Pub Bar & Pub

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Similar Places Nearby

    • Mayrand's Tenth Street Tavern — 300 S 10th St, Escanaba, MI 49829
    • Karas Memorial Bandshell — Loren W Jenkins Memorial Dr, Escanaba, MI 49829
    • Wise Amusements — 224 Stephenson Ave, Escanaba, MI 49829
    • Granada — 330 S 10th St # 1, Escanaba, MI 49829
    • Mo's Pub — 2116 Ludington St, Escanaba, MI 49829

    Location Insight

    • Map
    • Local Demand
    City
    Escanaba
    County
    Delta
    State
    Michigan
    Longitude
    -87.063656
    Latitude
    45.745456

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    FAQs

    What type of property is this?
    Bar & Pub - Operating bar with rental income potential in Escanaba, Michigan.
    Where is this bar & pub located?
    The property is located at 1117 Ludington Street Escanaba, MI.
    What is the asking price?
    The asking price for this property is $550,000.
    What are key features of this property?
    This property features: Turnkey, fully operational bar in a high‑visibility downtown location with established customer loyalty.; Significant value‑add opportunity with an upstairs apartment space ready for renovation into housing, rental income, or office space.; Modern renovation with newer mechanicals and a functional layout for efficient bar operations.
    (906) 236-5806
    We can help!
    Listing Contact
    ROB SULLIVAN
    ROB SULLIVAN
    Real Estate License ID: 6502362192
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