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Listed by REO-TCRandolph-233022
$499,000
Est. payment /mo
2,953 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 2,953 sqft
Price per Sqft $168
MLS Listing ID 1945394
Year Built 1900
Property Sub-Type Retail
Property Description
Located in the heart of downtown Elk Rapids, this rare mixed-use opportunity offers both commercial and residential potential within a historic and character-filled building. Unit #1 features a versatile commercial space currently occupied with potential to re-sign the lease in the fall, along with a charming garden studio apartment (currently rented month to month at $695) and valuable lower-level storage space, creating flexibility for owner-occupants, investors, or entrepreneurs alike. Offered at $499,000, the property is zoned B2, allowing for short-term rentals and a variety of commercial and residential uses. Rich in character, the building showcases timeless architectural details and enjoys an unbeatable downtown location just steps from local shops, restaurants, the marina, and the beach. A unique investment opportunity in one of Northern Michigan's most vibrant waterfront communities.
Location
State MI
Interior
Heating Forced Air, Natural Gas
Exterior
Waterfront Description Public
Roof Type Membrane
Garage false
Building
Foundation Other
Sewer Public Sewer
Water Public
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Kyle O'Grady
Team Leader, REALTOR® | License ID: 6501407456
Team Leader, REALTOR® License ID: 6501407456