Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    321 Lake St E Petoskey, MI 49770

    For Sale
    $1,850,000

    Commercial/Industrial - Petoskey, MI

    Property size:
    7,958 SF
    Days on Market:
    93
    Last Refresh:
    Dec 5 at 4:06 am

    Property Features for 321 Lake St E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    B-2
    Rooms
    Basement
    APN
    52-19-06-226-017
    Interior features
    Natural Gas, Air-Conditioning, Common Area
    Basement Y/N
    1
    Size
    7,958 SF

    Utilities

    Utilities
    Natural Gas Available
    Heating system
    Natural Gas

    Building Details

    Year built
    1907
    Floors in Building
    2
    Architectural style
    Other

    Berkshire Hathaway HomeServices Michigan Real Estate (231) 526-9800 [email protected]

    Listing agent Tom Mooradian (231) 526-9800

    Listing date Sep 4, 2025

    MLS# 477427 Listing URL

    Copyright © 2025 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.

    Overview

    Prime Petoskey Retail and Office

    Located in the historic Gaslight District of Petoskey, this 7,958-square-foot commercial building offers retail and office space. The street-level features 3,958 square feet of retail space, which is currently occupied by a clothing store but can be retrofitted for two separate retail stores. The second level features a total of 4,000 square feet, consisting of five office suites and two restrooms. The property includes eight dedicated private parking spaces at the rear of the building. Situated in a resort community along Lake Michigan, the Gaslight District is a hub of boutiques, galleries, and dining, attracting year-round residents and seasonal tourists. The location benefits from a daily traffic count of 3,970 vehicles. The property's versatility makes it suitable for boutique retail, art galleries, specialty food shops, and professional services.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Petoskey
    County
    Emmet
    State
    Michigan
    Longitude
    -84.9562046
    Latitude
    45.3752387

    Nearby Similar for Sale

    • $1,997,000
      10,580 SF

      Versatile Commercial Property Near Hospital

      Commercially zoned property with multiple rental opportunities near downtown.
      525 W Mitchell St, Petoskey, MI 49770
      View Details
    • $5,199,000
      29,086 SF

      Class A Office Building

      Professional/Medical office building with bay views and ample parking.
      4048 Cedar Bluff Dr, Petoskey, MI 49770
      View Details
    • $350,000
      1,816 SF

      Petoskey Duplex: Income Potential

      Centrally located Petoskey duplex with income potential near downtown.
      513 Liberty St, Petoskey, MI 49770
      View Details
    • $2,000,000
      6,200 SF

      Established Restaurant in Tourist Hotspot

      Premier dining destination in Petoskey, Michigan with strong local following.
      1007 Spring St, Petoskey, MI 49770
      View Details
    • $700,000
      1 SF

      Petoskey Commercial Building with Leases

      Four-unit commercial building with three active leases in Petoskey, MI.
      501 W Mitchell St, Petoskey, MI 49770
      View Details
    • $2,076,923
      6,895 SF

      Advance Auto Parts Investment Opportunity

      Advance Auto Parts property in Petoskey, MI with corporate guarantee.
      730 Charlevoix Ave, Petoskey, MI 49770
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial building in Petoskey's Gaslight District with high visibility.
    Where is this retail space located?
    The property is located at 321 Lake St E Petoskey, MI.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: - Prime location in Petoskey's historic Gaslight District, a high-traffic area.; - High visibility with a daily traffic count of 3,970 vehicles.; - Rare and valuable asset of **eight dedicated private parking spaces**.
    (231) 526-9800
    Request Owner's contact information
    321 Lake St E Petoskey, MI 49770
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    321 Lake St E
    Petoskey, MI 49770
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    321 Lake St E Petoskey, MI 49770
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.