8200 Ludington Dr, Lake, MI 48632-8728
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.
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Boxcar Diner Restaurant
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.