501 W Mitchell St, Unit Petoskey Petoskey, MI 49770

This 6,447 square foot commercial building, located at 501 and 515 W Mitchell (US 31) in Petoskey, MI, features four units. There are currently three active long-term net leases and one vacancy. All units are designed for commercial usage, but B-3 zoning permits residential and short term rentals. The location offers high customer visibility with an estimated daily traffic count exceeding 25,000, easy accessibility, and proximity to established businesses. McLaren Northern MI Hospital is located across the street, and the Downtown Petoskey Gaslight District is a half mile away. Several offices within the building offer views of Lake Michigan's Little Traverse Bay. The property includes 21 parking spots. Recent improvements include roofing on half of the building, a new A/C and furnace, and concrete repairs. Units 1-3 are on the main level. Vacant Unit 1 offers 1,320 sq ft with an open floor plan and a storage room, currently built-out as a salon. Unit 2 provides 1,660 sq ft configured as a medical office with a reception area, 3 offices, 3 exam rooms, and a break room. Unit 3, the largest at 1,840 sq ft, features a mostly open floor plan with 1 private office and a storage room. Unit 4, located on the second story, totals 1,670 sq ft and includes 6 private rooms suitable for versatile office space.