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    215 Mill St Northport, MI 49670

    For Sale
    $1,350,000

    Cash-flowing multi-use property on Leelanau Peninsula.

    Property size:
    3,324 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 3,324 sq ft industrial property, situated on a 0.17-acre lot at 215 N Mill St, Northport, MI, presents a rare investment opportunity. The property boasts a diverse range of established businesses, including a restaurant, bar, large commercial kitchen, retail store, multiple residential spaces, and a unique bier garden featuring an Airstream bar. A Class C liquor license is included. The property's layout unfolds across four distinct phases. Phase 1 showcases a renovated two-story guest house with a courtyard and mural. Phase 2 features a lake-themed retail marketplace including a "store within a store" concept. Phase 3 encompasses the restaurant and bar, along with a beer garden and courtyard seating. Phase 4 offers versatile space for events, including weddings, festivals, and community gatherings. The property has a history of hosting music performances, pop-up suppers, and specialty classes, showcasing its adaptability. Seller financing may be available. This multifaceted property offers significant income potential and diverse usage options, making it an attractive investment in the vibrant Leelanau County market. The asking price is $1,350,000.

    Property Features for 215 Mill St

    General Information

    Property type
    Industrial properties
    Square Feet
    3,324 SF
    Lot Size
    7,405 SF

    Building Details

    Year Built
    1925
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Yard & Lake Bar

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Hair Salon Clothing Store Gym & Fitness Hotel & Motel Department Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Northport
    County
    Leelanau
    State
    Michigan
    Longitude
    -85.6161
    Latitude
    45.13101

    Nearby Comparable

    • $1,600,000

      Land For Sale

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      201 N Mill St, Northport, MI 49670
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    • $499,000
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      Northport Retail Store with Acreage

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    • $499,000
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      Northport Buildable Acreage with Building

      7.88 acres near Northport with existing well and septic.
      11184 N Mill St, Northport, MI 49670
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    • $300,000
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      Northport Land with Agricultural Potential

      10-acre lot suitable for agriculture, horses, and residential use.
      N Matheson Rd, Northport, MI 49670
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    • $3,291,500

      Leelanau County Land with Lakefront

      227 acres featuring forests, wetlands, and Bass Lake frontage.
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    Nearby Similar for Sale

    • $499,000
      1,900 SF

      Northport Retail Store with Acreage

      Retail store with acreage near Northport, Michigan, for sale.
      11184 N Mill St, Northport, MI 49670
      View Details

    FAQs

    What type of property is this?
    Industrial property - Cash-flowing multi-use property on Leelanau Peninsula.
    Where is this industrial property located?
    The property is located at 215 Mill St Northport, MI.
    What is the asking price?
    The asking price for this property is $1,350,000.
    (231) 946-4040
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    Northport, MI 49670
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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
    215 Mill St Northport, MI 49670
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