Property profile

8200 Ludington Dr Lake, MI 48632

OFF-MARKET
Commercial real estate
Property ID
US43-3883854
0.35 ac lot
Individually Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 1,000-square-foot restaurant property, located at 8200 W Ludington Dr in Lake, Michigan (48632), presents a unique owner-user investment opportunity. Situated on a sizable 0.35-acre lot, this vacant building offers significant potential for a variety of uses. Built in 1940, the single-story structure boasts a prime location on a busy corner, ensuring high visibility and accessibility. The property's previous use as a restaurant and family residence is reflected in the existing equipment, included in the sale price of $200,000. The spacious lot allows for ample parking and potential expansion. The property is ready for immediate occupancy, with an anticipated occupancy date of November 6, 2024. This turnkey restaurant space is ideal for an aspiring entrepreneur or seasoned investor seeking a high-traffic location in a thriving community. The property's history as a successful restaurant, combined with its prime location and substantial lot size, makes it an attractive investment prospect. Don't miss this chance to own a piece of Lake, Michigan's vibrant commercial landscape. The property consists of one building and one unit. Clare County location.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.35 ac (15,246 SF)
APN 013-015-400-04
UPID US43-3883854

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Restaurant

Location

8200 Ludington Dr Lake, MI 48632-8728
Lake metro Census 400
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

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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