Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4919 N Victory Corner Rd Ludington, MI 49431

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $289,000

    Farmhouse on 23.74 acres with creek and outbuildings.

    Lot size:
    23.74 Acres

    Property Features for 4919 N Victory Corner Rd

    General Information

    Lot size
    23.74 Acres

    Building Details

    Year built
    1953

    We can help!

    Listing Contact
    Kevin Bishop
    Kevin Bishop
    Source: Elliman

    Listing Agent: Kevin Bishop

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    23.74 Acres Farmhouse and Land

    This property features a 2450 sq ft farmhouse situated on 23.74 acres, consisting of two combined parcels. The land includes a creek and two outbuildings. There is a former pond site on the property, which may offer recreational potential subject to permitting. The farmland is currently part of a handshake lease with a neighbor, presenting agricultural possibilities. The parcels can be developed individually or farmed together.
    Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ludington
    County
    Mason
    State
    Michigan
    Longitude
    -86.3581417
    Latitude
    44.0460598

    Nearby Similar for Sale

    • New
      $500,000
      14.50 Acres

      Versatile Income Property on 14.6 Acres

      Income-producing property with multiple rental units and a pole barn.
      1907 W Sugar Grove Rd, Ludington, MI 49431
      View Details
    • $450,000
      0.39 Acres

      Ludington Multifamily Investment Opportunity

      Four-unit property in Ludington, near downtown and the beach.
      210 N Lavinia St, Ludington, MI 49431
      View Details
    • $895,000
      3,480 SF

      Turnkey Motel and Ice Cream Shop

      Successful motel and ice cream shop near Ludington State Park.
      1882 N Lakeshore Dr, Ludington, MI 49431
      View Details
    • $929,000
      19,960 SF

      Established Bowling Alley with Restaurant

      Thriving business opportunity with real estate in Mason County.
      2253 Us-10, Ludington, MI 49431
      View Details
    • $729,000
      16,960 SF

      Bowling Center and Restaurant Space

      Commercial space with bowling center, restaurant, and additional storage.
      2253 W Us Highway 10, Ludington, MI 49431
      View Details
    • Contact for pricing
      11,347 SF

      Commercial Building in Ludington, Michigan

      11,000+ SF commercial building on a 1.67-acre corner lot.
      936 E Ludington Ave, Ludington, MI 49431
      View Details
    • $438,000
      0.19 Acres

      Ludington Multifamily Near Marina

      Two-unit property near the beach and downtown Ludington.
      706 W Loomis St, Ludington, MI 49431
      View Details
    • $250,000
      0.19 Acres

      Ludington Duplex: Investment Opportunity

      Well-maintained duplex in Ludington with long-term tenants and solid rental history.
      602 5Th St, Ludington, MI 49431
      View Details
    • $324,900
      3,000 SF

      Multi-Purpose Storage and Business Space

      Versatile 3,000 sq ft unit for storage, business, or hobbies.
      1009 Conrad Industrial Dr, Ludington, MI 49431
      View Details
    • $480,000
      3,000 SF

      Versatile Industrial Space in Ludington

      Adaptable industrial site with office, break room, and loading bays.
      4954 W Commerce Dr, Ludington, MI 49431
      View Details
    • $845,000
      15,354 SF

      Office and Warehouse Downtown Ludington

      Office and warehouse space in downtown Ludington, close to lakeshore.
      202 N Rath Ave, Ludington, MI 49431
      View Details
    • $224,900
      2,000 SF

      Multi-Purpose Commercial Space Available

      Versatile 2000 sq ft space for storage, business, or hobbies.
      1009 Conrad Industrial Dr, Ludington, MI 49431
      View Details

    FAQs

    What type of property is this?
    Farm - Farmhouse on 23.74 acres with creek and outbuildings.
    Where is this farm located?
    The property is located at 4919 N Victory Corner Rd Ludington, MI.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: - 23.74-acre estate (2 parcels combined); - Spacious 2450 sq ft farmhouse; - Potential pond site to create your own oasis
    (231) 303-3595
    Request Owner's contact information
    4919 N Victory Corner Rd Ludington, MI 49431
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4919 N Victory Corner Rd
    Ludington, MI 49431
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    4919 N Victory Corner Rd Ludington, MI 49431
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kevin Bishop
    Kevin Bishop
    Real Estate License ID: 6502432745,PersonLicenseNumber
    (231) 303-3595
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.