Italian Restaurant in Downtown Ludington

Retail-Commercial for Sale
Catylist Listing ID: 30758366
Property Subtypes: Restaurant
Building Size (RSF): 6,394 SF
Gross Building Area: See Agent
Gross Land Area: 6,970 SF
Sale Price: $695,000
Unit Price: $108.70 PSF
Ceiling: 10 ft.
In Opportunity Zone? Yes
Property Use Type: Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/3/2021

Overview / Comments

Price reduced! Turn-key Italian restaurant on a busy corner lot. Being sold fully-furnished with recipes, kitchen equipment and inventory. Current owners are still operating the restaurant. Inside has 2 main areas to serve patrons and a bonus room in the back for private parties for privacy. The outside of the building has been repainted with new signage and awnings in spring of 2021, giving the location some fresh curb appeal. The Business also comes with a class C Liquor License as well. The city has created a nice outdoor dining area to elevate the Ludington experience. This building is in a great location in the heart of downtown and is close to the beach and other businesses. Building could be used for other purposes as well.

Additional Details

Nearest MSA: Ludington
County: Mason
Tax ID/APN: 051-225-131-00
Zoning: CBD
Retail Clientele: General, Family, Traveler, Tourist
Property Located Between: James St and Ludington Ave
Property Visibility: Excellent
Largest Nearby Street: Ludington Ave
Feet of Frontage: 56
Traffic/Vehicle Count: 8,000
Highway Access: 1.6 miles from Pere Marquette Hwy, 3 miles from US31.
Airports: Mason County Airport 1.8 miles away
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,394 SF
Property Condition: Average
Year Built: 1969
Roof Type: Flat
Construction/Siding: Block, Concrete, Stucco
Exterior Description: Clean stucco face, sidewalk on corner road sides.
Parking Type: Other
Parking Description: Street parking
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Legal Description: ORIGINAL PLAT E 50 1/2 FT OF LOT 1 BLOCK 34.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,384 9,558 15,368
Median Age: 43.31 43.39 44.55
Households: 3,262 4,109 6,557

Contact

Photograph of Listing Agent

Kellen Keck

City2Shore Port City Associates
CARWM Member
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