Mixed-Use Building with Restaurant
109 & 111 Bridge Charlevoix, MI 49720
109 & 111 Bridge, Charlevoix, MI, 49720
$1,450,000
For Sale
$1,450,000
COMMERCIAL - Charlevoix, MI
Property Size5,656 SF
Price / SF$256.36
Days on Market170
Property Features for 109 & 111 Bridge
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Standard status
- Active
- APN
- 052-242-005-00, 006-0
- Size
- 5,656 SF
Taxes and HOA fees
- Tax Description
- DDA 1984 C1 COM 84 FT N OF SE COR OF BLK 2 TH N 28 FT TH W 137.75 FT TH S 28 FT TH E 137.75 FT TO PO
Utilities
- Utilities
- Cable Available
- Heating system
- Natural Gas
Building Details
- Building materials
- Concrete
Listing agency
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed by
Austen Lobenherz
(231) 675-4474
Added: Feb 2 Updated: Jul 2 at 9:25AM Checked: Jul 22 at 10:06PM
MLS# 477336
Copyright © 2026 Northern Michigan MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building features a fully occupied ground level operated by The Happy Troll Restaurant under a solid five-year lease. The upper level includes two one-bedroom residential condos, each with a private balcony. The property also has rear alley parking.
The building is located on Bridge Street in downtown Charlevoix, positioned directly on US-31. Public remarks note over 15,000 vehicles passing daily during peak summer months, with prominent Bridge Street frontage.
Additional asset details mentioned include a Class C liquor license. The combination of retail/restaurant income and residential units provides multiple streams of revenue within a single downtown property.
The building is located on Bridge Street in downtown Charlevoix, positioned directly on US-31. Public remarks note over 15,000 vehicles passing daily during peak summer months, with prominent Bridge Street frontage.
Additional asset details mentioned include a Class C liquor license. The combination of retail/restaurant income and residential units provides multiple streams of revenue within a single downtown property.
Key Highlights
- 5,656‑SF mixed‑use building at 107 & 111 Bridge Street in Downtown Charlevoix, MI
- Direct US‑31 frontage with over 15,000 vehicles passing daily during peak summer months
- Ground level fully occupied by The Happy Troll Restaurant under a solid five‑year lease
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.4k | $17.04 |
| − Vacancy | −$6.0k | −$1.06 |
| EGI | $90.4k | $15.98 |
| − OpEx | −$22.6k | −$4.00 |
| NOI | $67.8k | $11.99 |
5,656 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$968.6K
$847.5K – $1.13M
NOI $67,802 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$662.1K
$579.3K – $772.4K
NOI $46,345 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,143 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Mixed-use building on US-31 with a ground-floor restaurant under lease and two residential condos above.
Where is this conventional restaurant located?
The property is located at 109 & 111 Bridge Charlevoix, MI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 5,656‑SF mixed‑use building at 107 & 111 Bridge Street in Downtown Charlevoix, MI; Direct US‑31 frontage with over 15,000 vehicles passing daily during peak summer months; Ground level fully occupied by The Happy Troll Restaurant under a solid five‑year lease
