502 Loomis StLudington, MI 49431

Property Details for 502 Loomis St

Lot size

0.64 AC

Property type

Commercial real estate

APN

051-105-260-00

APU

5110526000

Description

This established Ludington, MI restaurant presents a unique owner/user investment opportunity. The 6,980 square foot building, situated on a 0.64-acre lot (APN: 53-051-105-260-00), is currently vacant and available for occupancy March 15, 2024. Built in 1988, this single-story structure boasts a Class C resort license and is meticulously furnished, including a well-appointed bar and private dining rooms. The property features up-to-date technology and an upscale ambiance, ideal for various events, from intimate dinners to large corporate gatherings. Its prime location in Ludington, overlooking the marina and Lake Michigan, provides an iconic destination for waterfront dining. The asking price is $1,300,000 ($186.25/sq ft), and the permitted zoning is WM-2. This turnkey operation is ready for a new owner to capitalize on its established reputation and prime location. The property consists of one unit within a single building. This is an exceptional opportunity to acquire a well-established restaurant with significant potential for growth in a desirable lakeside location. The property is zoned WM-2 and is ready for immediate occupancy.

• Alternative Use

  Use

  Valuation

  Residential

  $5,828,060

  Hospitality

  $5,338,472

  Educational

  $4,441,546

  Medical

  $4,594,297

  Retail

  $6,909,070

Location Insight

City

Ludington

County

Mason

State

Michigan

Latitude

43.9548

Longitude

-86.454

CBSA code

31220

CBSA name

LUDINGTON, MI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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