Mixed-Use Property with Bay
For Sale
$564,900
602 Jackson Street, Petoskey, MI 49770
COMMERCIAL - Petoskey, MI
Property Size2,329 SF
Price / SF$242.55
Days on Market36
Property Features for 602 Jackson Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COP-B3
Window features
Vinyl Frames
Elementary school district
Petoskey
Middle school district
Petoskey
High school district
Petoskey
Directions
US-31 to Jackson St., turn left and602 Jackson is on the left, next to Johan's Bakery.
Subdivision
Petoskey City
Standard status
Active
APN
52-19-06-126-043
Size
2,329 SF
Taxes and HOA fees
Tax Description
WEST PARK ADD, COM ON S LN OF LOT 9, BLK 7 OF SD PLAT, 79.57 FT W OF SE COR OF SD LOT 9, TH E ALG S
Legal Description
WEST PARK ADD, COM ON S LN OF LOT 9, BLK 7 OF SD PLAT, 79.57 FT W OF SE COR OF SD LOT 9, TH E ALG S
Utilities
Utilities
Cable Available
Heating system
Natural Gas
Amenities
deck
Building Details
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Berkshire Hathaway HomeServices Michigan Real Estate - HS
(231) 526-9800
Listed By:
Tom Mooradian
(616) 334-6672
Added: Jul 2
Changed: Aug 4
Last Checked: Aug 6 at 1:06AM
MLS# 479351
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 2,329-square-foot mixed-use property contains three units: a professional office suite with a long-term lease and two one-bedroom, one-bath apartments. One apartment is occupied by the owner, while the other has supported both short-term and long-term rentals. The residential units feature extensive updates, and the upper apartment offers bay views from its living room, kitchen, and deck. A detached one-stall garage adds supplemental storage or parking space.
The property is located in Petoskey near McLaren Hospital and beside Johan's Bakery. Wood-frame construction, natural-gas heating, cable availability, and a shingle roof are included among the recorded property features. Office showings are limited to weekday business hours.
The property is located in Petoskey near McLaren Hospital and beside Johan's Bakery. Wood-frame construction, natural-gas heating, cable availability, and a shingle roof are included among the recorded property features. Office showings are limited to weekday business hours.
Key Highlights
- Three‑unit mixed‑use property totaling 2,329 square feet
- Professional office space secured by a long‑term lease
- Two 1‑bedroom/1‑bath apartments with extensive updates
Financial Insights For Office B
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 | $44.2k | $18.96 |
| − Vacancy | −$7.0k | −$3.00 |
| EGI | $37.2k | $15.96 |
| − OpEx | −$9.3k | −$3.99 |
| NOI | $27.9k | $11.97 |
2,329 SF · lease $18.96/SF/yr · vacancy 15.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$398.4K
$348.6K – $464.8K
NOI $27,886 @ 7.0% cap · market cap 4.94%
Second Best
Mixed Use
$387.6K
$339.1K – $452.2K
NOI $27,129 @ 7.0% cap · market cap 4.80%
Theoretical Best
Warehouse
$527.1K
$461.2K – $614.9K
NOI $36,895 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,021
Businesses Nearby
Explore this area
Business Placement
Demographics for 49770, MI
17,643
Population
10,244
Households
1.7
Avg Household Size
44
Median Age
47%
College-Educated
97%
High-School Grad
109.4 sq mi
ZIP Area
161
Density / Sq Mi
$80,431
Median Household Income
$42,154
Median Earnings
$1,077
Median Rent
$309,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes leased office space and two upgraded one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 602 Jackson Street Petoskey, MI.
What is the asking price?
The asking price for this property is $564,900.
What are key features of this property?
This property features: Three‑unit mixed‑use property totaling 2,329 square feet; Professional office space secured by a long‑term lease; Two 1‑bedroom/1‑bath apartments with extensive updates
