Multi-Floor Office Building with
1211 Ludington Street Unit SourceFi Escanaba, MI 49829
For Sale
$475,000
Well-maintained office building with elevator service, conference space, multiple private offices, and accessible main entry.
Property Size5,271 SF
Price / SF$90.12
Days on Market101
Property Features for 1211 Ludington Street Unit SourceFi
General Information
- Standard status
- Active
- Size
- 5,271 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1946
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 280-0570
Listed By:
LUCAS GESTWICKI · License #6501433737
(906) 280-0570
Source:
Xome
Added: Apr 15
Changed: Jul 24
Last Checked: Jul 24 at 5:46AM
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 KEY REALTY DELTA COUNTY LLC
Investment Insights
Based on property information with market context.
This well-maintained commercial office building offers multiple floors supported by an elevator serving the first and second floors, with an extra-wide staircase connecting the basement, first, and second floors. The main level includes a spacious front entrance with stairs and a ramp for accessibility, six private offices, and a substantial amount of open space suitable for cubicles or future buildouts. Upstairs, the property features an impressive conference room with views, along with a small staff kitchen, one half bathroom, one full bathroom, and additional storage rooms.
The building is located at 1211 Ludington Street, Unit SourceFi, Escanaba, MI 49829. Parking is available across the alley via a finished blacktop lot sized 50' x 160'. There is also a spacious garage with electric service included with the offering.
The building is located at 1211 Ludington Street, Unit SourceFi, Escanaba, MI 49829. Parking is available across the alley via a finished blacktop lot sized 50' x 160'. There is also a spacious garage with electric service included with the offering.
Key Highlights
- Well‑maintained 5,200 sq ft commercial office building built in 1946
- Main floor has an accessible front entrance with stairs and a ramp
- Includes 6 private offices plus open space for cubicles or future buildouts
Financial Insights For Healthcare Medical
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 | $75.9k | $14.40 |
| − Vacancy | −$6.1k | −$1.15 |
| EGI | $69.8k | $13.25 |
| − OpEx | −$27.9k | −$5.30 |
| NOI | $41.9k | $7.95 |
5,271 SF · lease $14.40/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$772.6K
$676.0K – $901.3K
NOI $54,080 @ 7.0% cap · market cap 11.39%
Second Best
Healthcare Medical
$598.5K
$523.7K – $698.3K
NOI $41,898 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$1.03M
$902.9K – $1.20M
NOI $72,229 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
C2AE
Architect
FAQs
What type of property is this?
Office building - Well-maintained office building with elevator service, conference space, multiple private offices, and accessible main entry.
Where is this office building located?
The property is located at 1211 Ludington Street Unit SourceFi Escanaba, MI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Well‑maintained 5,200 sq ft commercial office building built in 1946; Main floor has an accessible front entrance with stairs and a ramp; Includes 6 private offices plus open space for cubicles or future buildouts
