Turnkey Bar and Restaurant
1117 Ludington Street Escanaba, MI 49829
For Sale
$599,000
Turnkey bar and restaurant with renovated restrooms, front-to-back layout, and basement storage plus an upstairs apartment.
Property Size2,164 SF
Price / SF$276.80
Days on Market246
Property Features for 1117 Ludington Street
General Information
- Standard status
- Active
- Size
- 2,164 SF
Listing Agency:
NORTHERN MICHIGAN LAND BROKERS
(906) 236-5806
Listed By:
ROB SULLIVAN · License #6502362192
(906) 236-5806
Source:
Exprealty
Added: Nov 19, 2025
Changed: Jul 23
Last Checked: Jul 23 at 6:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NORTHERN MICHIGAN LAND BROKERS
Investment Insights
Based on property information with market context.
This turnkey, fully operational bar and restaurant property is designed with a functional front-to-back layout and includes updated, ready-to-run interior space. The building features newer mechanicals and a basement with ample storage. Both restrooms have been fully renovated, and there is also an upstairs apartment that has been gutted.
The front area of the pub provides abundant seating and high-top tables, while the rear section offers additional space suited for larger groups and events. Pool tables are owned; dart boards, a speaker system, and Touch Tunes machines are leased.
The offering is positioned as a downtown destination along a high-visibility commercial corridor, with the property described as an active, well-loved local bar with established operating continuity.
The front area of the pub provides abundant seating and high-top tables, while the rear section offers additional space suited for larger groups and events. Pool tables are owned; dart boards, a speaker system, and Touch Tunes machines are leased.
The offering is positioned as a downtown destination along a high-visibility commercial corridor, with the property described as an active, well-loved local bar with established operating continuity.
Key Highlights
- Over 2,000 sq ft bar/restaurant space with a functional front‑to‑back layout
- Newer mechanicals and renovated restrooms
- Basement provides ample storage
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
NOI $28,454 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$423.6K
$370.7K – $494.2K
NOI $29,653 @ 7.0% cap · market cap 4.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
South City Pub
Bar & Pub
Similar Off Market 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
FAQs
What type of property is this?
Bar & Pub - Turnkey bar and restaurant with renovated restrooms, front-to-back layout, and basement storage plus an upstairs apartment.
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 $599,000.
What are key features of this property?
This property features: Over 2,000 sq ft bar/restaurant space with a functional front‑to‑back layout; Newer mechanicals and renovated restrooms; Basement provides ample storage
