Prime Retail Real Estate on US-10 Corridor

Retail-Commercial for Sale
Catylist Listing ID: 30606830
Property Subtypes: Street Retail
Condo? Yes
Building Size (RSF): 8,800 SF
Gross Building Area: See Agent
Sale Price: $799,000
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: Biercamp Market Real Estate Only
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/25/2020

Overview / Comments

Located in an Opportunity Zone! Here is a rare opportunity to own prime retail real estate on the busy US-10/Ludington Avenue thoroughfare that connects US-31 to the Lake Michigan shoreline. Ludington is a destination city that swells in summer months with cottage owners, beach-goers, state park campers, and tourists. Built in 2009, this building is a commercial condo that includes 3 residential condos and Ludington Visitors Information Center.

This listing is for real estate only. The tenant, Biercamp Market LLC, is also selling the business entity under a separate listing. The buildout was professionally designed for that upscale feel. Tenant agreement expires in April of 2021. The sellers of the real estate would like to see another market occupy this space. The market is voluntarily closed due to COVID-19 concerns.

Showings are by appointment only. No signage on building. Contact LA for details.

Current Tenants

Tenant Business Name Biercamp Market, LLC
Contact Name Kathy DeVries
Contact Title Agent for Owner
Phone Number 616-422-5874
Industry Type Retail Trade
Is Renting? Yes
Employees Total 38
Employees at Location 38
Year Founded 2016
Suite Number 1
SF of Space Occupied 8,800 SF
Lease Expiration 4/2021
Tenant Notes Contact LA for details

Additional Details

Nearest MSA: Ludington
County: Mason
Taxing Authority: City of Ludington
Tax ID/APN: 53-01-105-188-01
Is Condo?: Yes
Zoning: 201 - COMMERCIAL IMPROVED
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Rath and Robert Streets
Property Visibility: Excellent
Largest Nearby Street: US-10/Ludington Avenue
Feet of Frontage: 78
Traffic/Vehicle Count: 8,979
Highway Access: Easy access: US-31 to US-10, West to Destination
Airports: Mason County Airport
Site Description: Commercial Condo Development Built in 2009. Store was remodeled in 2016.
Area Description: Fantastic location along Lake Michigan shoreline. Nearby attractions include Ludington State Park, Big Sable Lighthouse, the Badger Ferry to Wisconsin, golf courses, Stearns Park, and numerous wineries and shops.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2009
Year Renovated: 2016
Construction/Siding: Brick
Exterior Description: Single Story Brick with Standing Seam Aluminum Awnings
Parking Type: Surface
Parking Description: Public parking at street with shared parking lot behind building.
Interior Description: Beautiful interior set up for market and pub.
Zoning Description: 201 Commercial Improved
Part of Planned Development?: Yes
Lot Frontage: 77
Lot Depth: 75
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Part of a Commercial PUD including three residential units and Vistors Information Center.
Land Ownership: Creekbed Condo Association, Inc./Creekbed, LLC
Legal Description: ORIGINAL PLAT LOTS 6 & 7 BLOCK 27.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,022 9,558 15,368
Median Age: 42.43 43.39 44.55
Households: 2,259 4,109 6,557

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