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Property profile & analytics

200 Ludington St Iron Mountain, MI 49801-2856

  • Commercial real estate
  • 4,180 SF
  • 0.24 lot acres
OFF-MARKET
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US43-3774955
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

  • Nelson Insurance Agency / Insurance Agency
  • Superior Hearing / Medical Clinic
  • Globe Properties / Apartment Building

Property Details for 200 Ludington St

Year built
1936
Lot size
0.24 lot acres
Property size
4,180 SF
Property type
Commercial real estate
APN
051-104-493-00
APU
5110449300

Description

This exceptional investment opportunity presents the fee simple interest in the Iron Mountain Executive Plaza, a 4,180 square foot storefront located at 200 W Ludington St, Iron Mountain, MI 49801. The property boasts a 100% occupancy rate with a single master tenant under an absolute NNN lease expiring July 31, 2033, providing a remaining lease term of approximately 8.7 years. The lease generates a substantial net operating income (NOI) of $135,300, resulting in a compelling 12% cap rate. Built in 1936, this single-building property sits on a 0.24-acre lot and is zoned for commercial use. The property's prime downtown location offers high visibility and foot traffic, benefiting from recent community revitalization efforts including a new downtown retail complex, expanded medical facilities, and new manufacturing plants. Its strategic location is kitty-corner to the US Post Office and one block from a new Marriott TownePlace Suites. The property's strong financial performance, long-term lease, and location within a growing community make it an attractive investment opportunity. The asking price is $1,127,500. The property's APN is 051-104-493-00. This investment offers a secure, passive income stream with significant long-term growth potential.


Value Estimations

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  • CAP approach

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  • Alternative Use

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Location Insight

  • Map
  • Local Demand
City
Iron Mountain
County
Dickinson
State
Michigan
Longitude
-88.0685
Latitude
45.8205
CBSA code
27020
CBSA name
IRON MOUNTAIN, MI-WI MICROPOLITAN STATISTICAL AREA

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
0
$0.00
$0.00
$0.00
$78,300
-
$0.00
$0.00
$156,600
More about this property
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