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Property profile & analytics
FOR SALE
Commercial real estate
510 Lake St, Ludington, MI 49431
Individually Owned
1-yr Hold
Free & Clear
Property ID
US43-2989015
For Sale
1 / 41
$2,200,000
510 Lake St, Ludington, MI 49431
View Listing →
Property summary
AI-generated overview
This exceptional 4.5-acre industrial property in Ludington, Michigan, presents a unique redevelopment opportunity. Situated directly on the shores of Pere Marquette Lake, with direct access to Lake Michigan, this site boasts approximately 735 feet of water frontage and 502 feet of road frontage. The property includes a 52,000 square foot building
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
4.5 ac (196,020 SF)
APN
051-590-001-00
UPID
US43-2989015
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Thompson Marina Marina
-
Katfish Charters Tour Operator Travel Agency
-
FISH-n-TALES Charters Tour Operator Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Edward J Thompson JR Revocable Trus · 1 yrs held
Edward J Thompson JR Revocable Trus
since 2025
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ludington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ludington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$644,000
Assessed 2023
Previous assessed
$636,100
+1.2% YoY
Assessed land
$644,000
Total market value
$1,288,000
Applied tax rate
51.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Lot
4.5 ac (196,020 SF)
APN
051-590-001-00
UPID
US43-2989015
Jurisdiction
MASON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Lot
4.5 ac
Current owner
From public records · entity-resolved
Edward J Thompson JR Revocable Trus
Individual
Free & Clear · 1 yrs held
Mailing address
2506 N INDIAN RIV DR, COCOA, FL 32922-7073
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 25, 2025
—
Edward J Thompson JR Revocable Trus
Edward J Thompson JR
Warranty Deed
—
Oct 12, 2021
—
Edward J Thompson
Thompson Nellie K Est
Quit Claim Deed
related
—
Sep 7, 2007
—
Nellie W Thompson
Thompson Cabinet
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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