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    Turnkey Bar and Restaurant Building

    1117 Ludington Street Escanaba, MI 49829

    Claim this Listing
    For Sale
    $530,000

    COMMERCIAL - Escanaba, MI

    Property size:
    2,164 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $244/SF
    Added:
    Nov 19, 2025
    Days on Market:
    236
    Last Refresh:
    Jul 13 at 6:06 am

    Property Features for 1117 Ludington Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    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

    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.

    Investment Insights

    Based on property information with market context.

    This turnkey, full operational bar and restaurant building features a functional front-to-back layout for smooth operations. Updated improvements include newer mechanicals, a basement that provides ample storage, and fully renovated restrooms. The front area offers abundant seating with high-top tables, while the rear section provides space for groups, events, or additional entertainment. Pool tables are owned, while dart boards, the speaker system, and TouchTunes machines are leased.

    The property is located in downtown Escanaba along the city’s highest-visibility commercial corridors.

    An upstairs apartment space is present but has been largely gutted, with the owner having recently begun very basic preliminary renovation work, creating an opportunity for a buyer to complete the space for additional use.

    Key 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.

    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 5.37%
    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 5.59%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    South City Pub Bar & Pub

    Suggested Use

    Grocery & Convenience Store Plumbing Service Locksmith Parking Lot & Garage Barber Shop Catering Service Computer & Electronic Repair Electrical Service Grocery & Convenience Store Florist

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

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    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
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    • Mo's Pub — 2116 Ludington St, Escanaba, MI 49829

    FAQs

    What type of property is this?
    Bar & Pub - Turnkey bar setup with renovated restrooms, newer mechanicals, and an unfinished upstairs apartment space.
    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 $530,000.
    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.
    Contact an agent
    (906) 236-5806
    We can help!
    Contact an agent
    ROB SULLIVAN
    ROB SULLIVAN
    Real Estate License ID: 6502362192
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