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Property profile & analytics

550 Ludington Dr Farwell, MI 48622

  • Commercial real estate
  • 2.08 lot acres
Value Estimation
Location Intelligence
Property ID
US43-3931007
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Commercial real estate

Property Details for 550 Ludington Dr

Lot size
2.08 lot acres
Property type
Commercial real estate
APN
015-030-300-25
APU
1503030025

Description

This exceptional commercial property located at 550 E Ludington in Farwell, MI, presents a unique investment opportunity. The 3,307 square foot building sits on a 1.9-acre corner lot, boasting high visibility due to its position on M-115 between Farwell and Clare, and its adjacency to the Pere Marquette Rail Trail. The property offers a flexible layout, including approximately 1,292 square feet of finished retail space, ideal for immediate occupancy and business operations. An additional 575 square feet of living space presents a readily adaptable area for expansion of retail space or other commercial uses. Significant storage or garage space, totaling approximately 1,440 square feet, provides ample room for inventory, equipment, or other business needs. Both roads providing access to the property are paved, ensuring convenient access for customers and deliveries. The property is equipped with a 50-amp service and sewer hookup for a camper, adding to its versatility. Utilities are comprehensive, including a 5-inch well and a mounded septic system installed in 2004, high-speed internet access, cable television, and natural gas. This property's strategic location, ample space, and existing infrastructure make it an ideal choice for a variety of commercial ventures, offering significant potential for growth and return on investment.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $255,000
  • CAP approach

    CAP return
    Estimation
    6%
    $380,000
    6.5%
    $365,000
    7%
    $390,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $370,000
    Geo Method
    $330,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $375,000
    Retail
    $365,000
    Mixed-Use
    $425,000
    Hospitality
    $345,000
    Educational
    $465,000
    Residential Income
    $425,000
    Energy
    $355,000
    Income-Based Land
    $355,000
    Food Service
    $350,000

Location Insight

  • Map
  • Local Demand
City
Farwell
County
Clare
State
Michigan
Longitude
-84.8388
Latitude
43.8316

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$1,952
$18,080
$37,144
$55,224
-
$36,160
$74,288
$110,448
More about this property
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