510 Lake Street Ludington, MI ^$ 2,400,000

510 Lake Street

^$ 2,400,000

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510 Lake Street

Ludington, MI, 49431

^$ 2,400,000

Studio Baths0.0 Sq 52,000

Monthly Estimate*

^$ 16,765

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Studio

Commercial Property for sale in Ludington, MI

for $2,400,000. This 52,000 square foot building was built in 1924 on a lot size of 4.5.

City of Ludington - Development and/or Business opportunity - Approx 4.5+ acres on the shore of Pere Marquette Lake, which is also the Lake Michigan port in the harbor town of Ludington, MI. Approx 735ft of water frontage & 502 ft of road frontage. This legacy property, known as Thompson Marina, is an operating business with 35 slips. Another piece of the legacy is the 50,000 sq ft, 2 story manufacturing building that once produced products for the printing industry. Looking to create something new for the future? Prime development property for condo community or REHAB the old building and create new living spaces. Options to demo everything and start fresh, or work with what is onsite and convert a legacy into luxurious living w/a refurbished marina & waterfront. NOW is the time!

Commercial Active

Price

^$ 2,400,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 16,426

Style

Business

Lot Size

4.5

Year Built

1924

Town/City

Ludington

County/Region

Mason

MLS | Web ID

70273907

Features

General

Heating None

Possession At Close

Water Public Water Public Water at Street

Status Active Active

Year Built 1924

County Mason

Class COM/IND/BUS OPP

Type Business

Percent Ownership Other/See Remarks

Municipality Ludington

Subdivision MI

Commercial Features Cable TV Available Electric Available Gas Available Telephone

Area Ludington (53020)

Primary City Ludington

Directions Head west on US-10/ Ludington Ave. Turn left onto S Washington Ave. Turn right onto Lake St. 510 will be on the left.

City Ludington

Street Name Lake

Financial Terms Cash

Legal Description **Lengthy Legal on file

DOM 641

Postal Code 49431

Price Per Sq Ft 46.15

Coming Soon City of Ludington - Development and/or Business opportunity - Approx 4.5+ acres on the shore of Pere Marquette Lake which is also the Lake Michigan port in the harbor town of Ludington

Exterior

Frontage 502

Body of Water Pere Marquette Lake

Lot Size Area 4.5

Lot Dimensions 502 x 735 Irregular

Water Features Dock/Pier Facility Lake/River Access Water View All Sports Lake

Roads City/County Paved Street

Waterfront Y/N Yes

Interior

Fuel Type Natural Gas

* Excluded Features

List By

Debby Stevenson

Listing Agent

Greenridge Realty S Rath

Broker

deb@debstevenson.com

Affordability Calculator

$18,134

Per Month

Monthly Principal & Interest: $16,765
Monthly Property Taxes: $1,369
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Ludington, MI

Average List Price ^$685,082

Percent of Sale Price 71%

About Ludington, MI

8,282 Population

0% Since 2002

^$36,498 Median Income

41.21 Median Age

22% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
10/9/2022	$2,400,000		Listed Price

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510 Lake Street, Ludington, MI, 49431 is a Commercial Property for sale at $2,400,000 with 52,000 sqft and a lot size of 4.5. 510 Lake Street is a studio with 0.0 baths and was built in 1924. The property's zip code is 49431 which is in Ludington, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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510 Lake Street

Commercial Property for sale in Ludington, MI

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