Multi-Office Building with Conference
For Sale
$375,000
2209 Ludington Road, Escanaba, MI 49829
COM/IND/BUS OPP, Escanaba, MI
Property Size2,600 SF
Lot Size0.16 Acres
Price / SF$144.23
Days on Market852
Property Features for 2209 Ludington Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Escanaba (21010)
Standard status
Active
Size
2,600 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
3481
Utilities
Water source
Public
Building Details
Year built
1900
Listing Agency:
KEY REALTY DELTA COUNTY LLC
(906) 233-7455
Listed By:
LUCAS GESTWICKI · License #6501433737
(906) 280-0570
Added: Jun 7, 2024
Changed: Sep 7
Last Checked: Oct 6 at 4:06AM
MLS# 50144705
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 office property provides 10 individual offices, a conference room, and a sizable entrance area for clients and customers. The layout supports a range of professional office configurations within an established building constructed in 1900.
The property is positioned one building from the US 2/41 and M-35 intersection, offering proximity to a heavily traveled roadway junction. The site encompasses 0.16 acres and is served by public water.
The property is positioned one building from the US 2/41 and M-35 intersection, offering proximity to a heavily traveled roadway junction. The site encompasses 0.16 acres and is served by public water.
Key Highlights
- 10 individual offices plus 1 conference room
- Large entry area for clients and customers
- One building from the US 2/41 and M‑35 intersection
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,676
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,520
$533.5K
Cap Rate 7%
$381,086
$381.1K
Cap Rate 9%
$296,400
$296.4K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$46.8K $18.00/SF
− Vacancy
−$11.2K −$4.32/SF
EGI
$35.6K $13.68/SF
− OpEx
−$8.9K −$3.42/SF
NOI
$26.7K $10.26/SF
Area
Delta County, MI
Vacancy
24.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,520
Cap Rate 7%
$381,086
Cap Rate 9%
$296,400
Alternative Uses
Best Use
Office B
$381.1K
$333.5K – $444.6K
NOI $26,676 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$509.0K
$445.4K – $593.8K
NOI $35,628 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
650
Businesses Nearby
Explore this area
Business Placement
Demographics for 49829, MI
17,009
Population
8,729
Households
1.9
Avg Household Size
45
Median Age
19%
College-Educated
90%
High-School Grad
66.8 sq mi
ZIP Area
255
Density / Sq Mi
$45,808
Median Household Income
$31,366
Median Earnings
$667
Median Rent
$139,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office property offers a client-facing entry area and convenient access near a major US 2/41 and M-35 intersection.
Where is this office units located?
The property is located at 2209 Ludington Road Escanaba, MI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 10 individual offices plus 1 conference room; Large entry area for clients and customers; One building from the US 2/41 and M‑35 intersection
