Specialty Retail Store and Inventory
For Sale
$250,000
816 Ludington Street, Escanaba, MI 49829
COMMERCIAL - Escanaba, MI
Property Size1,834 SF
Lot Size0.32 Acres
Price / SF$136.31
Days on Market200
Property Features for 816 Ludington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Lot features
Main Street
Subdivision
Escanaba (21010)
Standard status
Active
Size
1,834 SF
Lot size
0.32 Acres
Utilities
Water source
Public
Listing Agency:
PREMIER REAL ESTATE, INC.
(906) 786-5030
Listed By:
LORI RYMKOS · License #UPAR
(906) 280-3165
Added: Feb 2
Changed: Aug 4
Last Checked: Aug 21 at 3:06AM
MLS# 50198737
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.
For sale is a specialty retail business with approximately 20 years of operation, presented as a turnkey opportunity with a main location and a satellite location in Houghton. The store’s product mix includes specialty bras, wigs and hair accessories, swimsuits, stylish bandanas and headwear, lingerie and underwear, shoes and specialty footwear, plus a curated selection of adult wellness and intimacy products. The business also carries a large bra inventory, stated as up to 8,500 bras with sizing from AA through 56 O cup, to support a wide range of specialty and medical fit needs. The seller notes that CPAP machine sales and other DME products can be added.
The listing is for the Escanaba property at 816 Ludington Street, within Delta County, zoned Commercial. The business accepts most insurance providers and is offered with all inventory and store fixtures included. Operations are described as fully staffed, with one experienced manager and one employee who will remain. Confidentiality agreement is required for serious inquiries.
The listing is for the Escanaba property at 816 Ludington Street, within Delta County, zoned Commercial. The business accepts most insurance providers and is offered with all inventory and store fixtures included. Operations are described as fully staffed, with one experienced manager and one employee who will remain. Confidentiality agreement is required for serious inquiries.
Key Highlights
- Well‑established specialty retail business with excellent reputation.
- Largest bra selection in the Upper Peninsula (UP), carrying a wide range of sizes (AA through 56 O cup).
- Includes all inventory and store fixtures, offering an immediate income‑producing operation.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,810
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,200
$316.2K
Cap Rate 7%
$225,857
$225.9K
Cap Rate 9%
$175,667
$175.7K
Market Conditions
NOI Build-Up for 1,834 SF
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.
Gross rent
$27.5K $15.00/SF
− Vacancy
−$4.9K −$2.69/SF
EGI
$22.6K $12.32/SF
− OpEx
−$6.8K −$3.69/SF
NOI
$15.8K $8.62/SF
Area
Delta County, MI
Vacancy
17.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,200
Cap Rate 7%
$225,857
Cap Rate 9%
$175,667
Alternative Uses
Best Use
Retail
$225.9K
$197.6K – $263.5K
NOI $15,810 @ 7.0% cap · market cap 6.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$359.0K
$314.1K – $418.9K
NOI $25,131 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale specialty retail store with bra, wig, and related inventory; includes inventory and store fixtures.
Where is this storefront property located?
The property is located at 816 Ludington Street Escanaba, MI.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Well‑established specialty retail business with excellent reputation.; Largest bra selection in the Upper Peninsula (UP), carrying a wide range of sizes (AA through 56 O cup).; Includes all inventory and store fixtures, offering an immediate income‑producing operation.
