Petoskey, MI Apartment buildings for sale

Updated: Jul 2

Mixed-Use Building with Commercial Space

525 W Mitchell Street, Petoskey, MI 49770

$1,870,000

10,580 sqft

Approximately 10,580 sq ft Petoskey commercially zoned property at 525 W. Mitchell St. & 516 Monroe St.
Across from a regional hospital; zoned COP‑B‑3 and RM‑2.
16 micro rental units with bath plus two large commercial spaces for office/retail.
Recent upgrades include a $90K roof and new windows, plus vanity and sinks in small units.
All units are occupied and leased; basement storage is clean and dry.

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This listing looks promising.

Here's a quick look at some key insights for

525 W Mitchell Street, Petoskey, MI 49770

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Est. Cap Rate

6.8%
Above avg (5.9%)
Est. NOI

$127K
Annual
Mortgage

$450K
Aug 2020

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Updated: Jun 11

Mixed-Use Building with Rental Micro-Units

525 W Mitchell St, Petoskey, MI 49770

Contact for pricing

22,405 sqft

Commercially zoned B3 property in Petoskey with approximately 10,580 sq ft of rental opportunity
Across the street from a regional hospital; walkable to downtown restaurants and waterfront
Includes 16 micro rental units, plus 2 large commercial spaces for office/retail
On‑site house with back yard: 2 bed, 2 bath plus 1‑car garage, and basement storage described as clean & dry
Recent capital expenditures include a $90K roof and new windows, vanities, and sinks in small units

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Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 2 Active listings in Petoskey, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Multifamily Land Opportunity

2624 Hartman Road, Traverse City, MI 49685

$740,000

5.25 AC lot

5.25-acre parcel in Garfield Township with a permitted R-3 rezoning and existing well and septic.

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Multifamily Property with Multiple Barns

55 S Hope Ridge, Traverse City, MI 49696

$3,500,000

15,383 sqft 40.39 AC lot

Forty-acre multifamily compound with eight homes and four large barns, positioned about eight minutes from downtown.

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Motel and Apartment Income Property

615 S I 75 Business Loop, Grayling, MI 49738

$779,000

15,026 sqft 25.00 AC lot

Turnkey Grayling property combines 23 motel rooms with multiple 2-bedroom apartments and an on-site owner residence.

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Well-Maintained Motel with Home

1024 S I 75 Business Loop, Grayling, MI 49738

$694,900

4.86 AC lot

A 22-unit motel property on 4.86 acres with a connected 1,800 sq ft residence and extensive parking.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Land Near Shepherd University

8285 MARTINSBURG Pike, Shepherdstown, WV 25443

$650,000

3.70 AC lot

Prime land near Shepherd University with development potential.

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Central Business Zoned Development Land

107 HOWARD Street, La Plata, MD 20646

$250,000

0.23 AC lot

Central Business zoned parcel with plans for a three-story mixed-use building and 15 parking spaces.

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Detached Two-Family Residence

69 Martense Street, Brooklyn, NY 11226

$1,888,888

0.10 AC lot

Detached two-family home with two 3-bedroom apartments and a semi-finished basement featuring a separate entrance.

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Asheville Development Opportunity: 5.94 Acres

215 N Bear Creek Road, Asheville, NC 28806

$2,500,000

5.94 AC lot

5.94-acre parcel zoned RM6, ideal for multi-family development.

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Petoskey, MI Apartment Buildings Market Trends and Statistics

Explore 2 apartment buildings for sale in Petoskey, MI on our real estate platform. These investment opportunities span a total of 32,985 square feet of properties for sale, with an estimated market value of $1,870,000.

Sale prices for two-family homes in Petoskey, MI average $1,870,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
49770	$1.6M

Neighborhood

Average Price

49770

$1.6M