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    575 W Mitchell St, Unit Petoskey Petoskey, MI 49770

    For Sale
    $500,000

    Highly visible redevelopment property near US-31 and US-131 in Petoskey.

    Property size:
    2 SF

    Property Features for 575 W Mitchell St

    General Information

    Size
    2 SF

    Building Details

    Year built
    1980

    Source: Alex MacKenzie Agent Alex MacKenzie

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Redevelopment Property in Prime Location

    This redevelopment property is located in Petoskey near the corner of US-31 and US-131, offering high visibility. The property is situated close to McLaren Hospital and directly across the street from a new shopping center redevelopment anchored by Panera Bread. Formerly an auto repair shop, the property offers a blank slate for a new owner to capitalize on its location. The property size is 2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Automotive properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Northern Chaplain Services

    Location Insight

    • Map
    • Local Demand
    City
    Petoskey
    County
    Emmet
    State
    Michigan
    Longitude
    -84.970426
    Latitude
    45.3706213

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    FAQs

    What type of property is this?
    Automotive property - Highly visible redevelopment property near US-31 and US-131 in Petoskey.
    Where is this automotive property located?
    The property is located at 575 W Mitchell St, Unit Petoskey Petoskey, MI.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: - Prime redevelopment opportunity in highly visible Petoskey location.; - Close proximity to McLaren Hospital.; - Directly across the street from new Panera Bread-anchored shopping center.
    (231) 929-2300
    Request Owner's contact information
    575 W Mitchell St, Unit Petoskey Petoskey, MI 49770
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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
    575 W Mitchell St, Unit Petoskey Petoskey, MI 49770
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