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    1007 Spring St Petoskey, MI 49770

    For Sale
    $2,000,000

    COMMERCIAL - Petoskey, MI

    Property size:
    6,200 SF
    Lot size:
    1.21 Acres
    Days on Market:
    82
    Last Refresh:
    Dec 5 at 4:06 am

    Property Features for 1007 Spring St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 3, Bathroom 1, Bathroom 4, Basement, Bathroom 2
    Bathrooms
    4
    APN
    52-19-06-300-086
    Parking
    64
    Size
    6,200 SF
    Lot size
    1.21 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1982
    Floors in Building
    2
    Number of units
    1
    Building materials
    Vinyl Siding, Brick
    Roof type
    Composition

    Waterfront Realty Inc dba Century 21 White House Realty (231) 972-7676 [email protected]

    Listing agent Tom Garner (231) 629-6006

    Listing date Sep 15, 2025

    Copyright © 2025 Montcalm County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Established Restaurant in Tourist Hotspot

    Located in Petoskey, Michigan, this property is a dining destination in a four-season tourist hotspot. The property is situated on Spring Street (US-131 Highway), offering visibility and accessibility. It has been a part of the local dining scene for over 18 years and is close to local hotels, the casino, the hospital, and downtown Petoskey. The building spans 6,200 square feet on a 1.21-acre lot. The interior floor plan accommodates a seating capacity of 140. It includes two east-facing dining rooms, a lounge area with booths, and a full-service bar. Onsite parking is available for patrons. The layout offers room for future expansion. The restaurant has 45 long-term employees. The property offers an opportunity to own an established business in a tourist community. The location, renovations, and local and tourist following make this an investment opportunity in Northern Michigan. It presents an opportunity to capitalize on the demand for dining experiences in the region.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Sweetwater Catering Co

    Location Insight

    • Map
    • Local Demand
    City
    Petoskey
    County
    Emmet
    State
    Michigan
    Longitude
    -84.970278
    Latitude
    45.363272

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    FAQs

    What type of property is this?
    Restaurant - Premier dining destination in Petoskey, Michigan with strong local following.
    Where is this restaurant located?
    The property is located at 1007 Spring St Petoskey, MI.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: - Prime location on Spring Street (US-131 Highway) in Petoskey, a four-season tourist destination, offering high visibility and accessibility.; - Established business with a strong reputation and loyal customer base built over 18 years.; - Spacious 6,200 sq. ft. property on a 1.2-acre lot with a seating capacity of 140 and room for future expansion.
    (231) 629-6006
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1007 Spring St Petoskey, MI 49770
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