Property profile

204 James St Ludington, MI 49431

OFF-MARKET
Commercial real estate
Property ID
US43-3667346
0.26 ac lot
Entity Owned Free & Clear
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Property summary

AI-generated overview

This exceptional 8,400-square-foot auditorium, situated on a 0.241-acre lot in downtown Ludington, Michigan, presents a unique investment opportunity. Currently vacant, this property offers immense potential for a variety of commercial uses. Built in 1924, the building is zoned MC and boasts a substantial footprint, ideal for adaptive reuse. The asking price is $225,000, translating to $26.79 per square foot. Located in Ludington's vibrant entertainment district, this property benefits from its prime location within one of Michigan's charming tourist towns. The property's size and central location make it an attractive prospect for entrepreneurs seeking a prominent space in a thriving community. The single-unit building offers 8,400 square feet of net rentable space, providing ample room for development and customization. The property's parcel number is 051-541-003-00. This is an owner/user investment opportunity with significant upside potential in a desirable location. The property's history and character offer a unique blend of vintage charm and modern adaptability. This is a rare chance to acquire a substantial commercial property in a growing Michigan tourist destination.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.26 ac (11,326 SF)
APN 051-541-003-00
UPID US43-3667346

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

204 James St Ludington, MI 49431-2104
Ludington metro Census 950500 LUDINGTON, MI MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$240k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$240k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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