Mixed-Use Building with Studio
For Sale
$474,900
106 E Michigan Avenue, Grayling, MI 49738
Two upper-level studio units are leased, and the commercial space includes a partially equipped kitchen.
Property Size3,590 SF
Price / SF$132.28
Days on Market11
Property Features for 106 E Michigan Avenue
General Information
Standard status
Active
Size
3,590 SF
Zoning
COM
Units
Unit Mix
2 x studio
Multifamily Units
2
Additional Details
Gross Income
$29,400
Liquor License
Yes
Tenant in Place
Yes
Amenities
Partial Basement,Walkout,Partial Finish,Crawl Space
No
0.1
34.5 X 120
Concrete
3590.0
Building Details
Building Size
3,590 SF
Year Renovated
2020
Buildings
1
Tenancy
Multi
Listing Agency:
(989) 273-3883
Listed By:
Chet Wheeler
Source:
Graylingrealestate
Added: Oct 19
Changed: Oct 28
Last Checked: Oct 28 at 4:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Chet Wheeler
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Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space with two studio apartments on the upper level. Both apartments have leases in place. The building was remodeled in 2020 and includes a partial basement with storage, a walkout, and a walk-in cooler. A partially equipped kitchen is also in place, and the sale includes a DDA liquor license.
The property is zoned COM and is located at 106 E Michigan Avenue in downtown Grayling, Michigan. A development is underway on the neighboring site.
The property is zoned COM and is located at 106 E Michigan Avenue in downtown Grayling, Michigan. A development is underway on the neighboring site.
Key Highlights
- Two leased studio apartments on the upper level
- Remodeled in 2020
- Partial basement includes storage and a walk‑in cooler
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
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Business Placement
Demographics for 49738, MI
9,498
Population
7,299
Households
1.3
Avg Household Size
50
Median Age
21%
College-Educated
92%
High-School Grad
332.6 sq mi
ZIP Area
29
Density / Sq Mi
$57,573
Median Household Income
$33,218
Median Earnings
$855
Median Rent
$153,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two upper-level studio units are leased, and the commercial space includes a partially equipped kitchen.
Where is this mixed-use property located?
The property is located at 106 E Michigan Avenue Grayling, MI.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Two leased studio apartments on the upper level; Remodeled in 2020; Partial basement includes storage and a walk‑in cooler
