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    Escanaba Boutique with Income Potential Title is generated by Realmo AI

    1206 Ludington Street, Escanaba, MI 49829

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    Claim this Listing
    For Sale
    $209,900

    COMMERCIAL - Escanaba, MI

    Property size:
    5,125 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $40/SF
    Added:
    Oct 30, 2025
    Days on Market:
    204
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 1206 Ludington Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    5,125 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2463

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    AMY DYER

    Listing agent AMY DYER License #UPAR

    Listing office COLDWELL BANKER SCHMIDT ESCANABA 110 N 13TH STREET, ESCANABA, MI

    Listing date Oct 30, 2025

    MLS# 50193011

    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

    • High‑traffic downtown location in Escanaba's commercial district.
    • Income‑producing potential with a separate back storefront space.
    • Upper floor with apartment potential and possible grant opportunities.
    • Renovated storefront and facade (2017) with new HVAC.
    • Unique architectural features: high tin‑type ceiling and Terrazzo flooring.
    • Ample storage space in the basement.

    Overview

    This well-established clothing and gift boutique is situated in the high-traffic downtown commercial district of Escanaba. The storefront features a spacious 48 x 21 storefront area, complemented by 8 fitting rooms, a mirrored viewing area, and a 10 x 13 office. The interior showcases a high tin-type ceiling and Terrazzo flooring. A 9 x 17 back storefront with a separate entrance provides access to back parking and a city parking lot, presenting a potential rental or income-producing opportunity for another business. Renovations to the main floor and facade were completed in 2017, including the installation of a new forced air furnace and air conditioner. A new roof was installed on the original front portion in 2020, while the age of the back section's roof is unknown. The basement offers ample storage space. The upper floor holds significant potential for apartment development, with possible grant opportunities available for renovations. Notably, there is a unique uppermost small apartment above the main second floor. The property size is 5125 square feet and the lot size is 0.08 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dress Up Escanaba Clothing & Fashion Store

    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

    • Wickert Floral Co — escanaba, mi 49829

    Location Insight

    • Map
    • Local Demand
    City
    Escanaba
    County
    Delta
    State
    Michigan
    Longitude
    -87.064379
    Latitude
    45.74579

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    FAQs

    What type of property is this?
    Storefront property - Established boutique with rental space and apartment potential in Escanaba.
    Where is this storefront property located?
    The property is located at 1206 Ludington Street Escanaba, MI.
    What is the asking price?
    The asking price for this property is $209,900.
    What are key features of this property?
    This property features: High‑traffic downtown location in Escanaba's commercial district.; Income‑producing potential with a separate back storefront space.; Upper floor with apartment potential and possible grant opportunities.
    (906) 553-2162
    We can help!
    Listing Contact
    AMY DYER
    Real Estate License ID: UPAR
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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