Mixed-Use Building with
New
For Sale
$1,450,000
109 & 111 Bridge, Charlevoix, MI 49720
Commercial/Industrial, Charlevoix, MI
Property Size5,656 SF
Price / SF$256.36
Days on Market5
Property Features for 109 & 111 Bridge
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Elementary school district
Charlevoix
Middle school district
Charlevoix
High school district
Charlevoix
Directions
Downtown Charlevoix on Bridge Street
Subdivision
Charlevoix City
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
Legal 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
Amenities
private balconies
Building Details
Building materials
Concrete
Listing Agency:
Berkshire Hathaway HomeServices Real Estate
(231) 547-9905
Listed By:
Austen Lobenherz
(231) 675-4474
Added: Oct 2
Last Checked: Oct 6 at 2:06AM
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 5,656-square-foot mixed-use property combines a ground-floor restaurant with two one-bedroom residential condominiums on the upper level. Each residence has a private balcony with views of Round Lake Harbor. The restaurant space is occupied under a five-year lease, and the property includes a Class C liquor license. Commercial zoning is identified for the site.
The building fronts Bridge Street and sits directly on US-31, where peak summer traffic exceeds 15,000 vehicles per day. Rear alley parking serves the property. The residential units may accommodate short-term rentals, long-term tenants, or owner use, as described for the property.
The building fronts Bridge Street and sits directly on US-31, where peak summer traffic exceeds 15,000 vehicles per day. Rear alley parking serves the property. The residential units may accommodate short-term rentals, long-term tenants, or owner use, as described for the property.
Key Highlights
- 5,656‑square‑foot mixed‑use property with restaurant space and two one‑bedroom condos
- Ground‑floor restaurant occupancy under a five‑year lease
- Both residences have private balconies overlooking Round Lake Harbor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,802
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,356,040
$1.4M
Cap Rate 7%
$968,600
$968.6K
Cap Rate 9%
$753,356
$753.4K
Market Conditions
NOI Build-Up for 5,656 SF
Gross rent
$96.4K $17.04/SF
− Vacancy
−$6.0K −$1.06/SF
EGI
$90.4K $15.98/SF
− OpEx
−$22.6K −$4.00/SF
NOI
$67.8K $11.99/SF
Area
Charlevoix County, MI
Vacancy
6.20%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,356,040
Cap Rate 7%
$968,600
Cap Rate 9%
$753,356
Alternative Uses
Best Use
Specialty Retail
$968.6K
$847.5K – $1.13M
NOI $67,802 @ 7.0% cap · market cap 4.68%
Second Best
Mixed Use
$772.7K
$676.1K – $901.4K
NOI $54,086 @ 7.0% cap · market cap 3.73%
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 authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Explore this area
Business Placement
Demographics for 49720, MI
9,127
Population
6,236
Households
1.5
Avg Household Size
52
Median Age
38%
College-Educated
97%
High-School Grad
95.5 sq mi
ZIP Area
96
Density / Sq Mi
$76,127
Median Household Income
$41,563
Median Earnings
$985
Median Rent
$265,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail 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 - A restaurant tenant occupies the ground floor, with two one-bedroom residences above.
Where is this mixed-use property 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‑square‑foot mixed‑use property with restaurant space and two one‑bedroom condos; Ground‑floor restaurant occupancy under a five‑year lease; Both residences have private balconies overlooking Round Lake Harbor
