Turn-Key Restaurant Space in Elk
For Lease
$6,859/Mo
Pending
151 River St, Elk Rapids, MI 49629
Remodeled restaurant space with outdoor patio in downtown Elk Rapids.
Space SizeContact for details
Lot Size0.18 Acres
Days on Market163
Property Features for 151 River St
General Information
Standard status
Pending
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Schmidt Traverse City
(231) 499-0529
Listed By:
Alex MacKenzie · License #6501406999
(231) 499-0529
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Jul 23 at 8:01AM
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 Coldwell Banker Schmidt Traverse City
Investment Insights
Based on property information with market context.
Located in downtown Elk Rapids, this 5,580 SF single-tenant restaurant space features a high-end commercial kitchen and quality interior finishes. The recently remodeled property includes an outdoor patio area. The interior accommodates approximately 100 guests with dining room and bar seating, while the patio provides seating for about 40 additional patrons. Situated along River Street, the town's main commercial corridor, the property benefits from high visibility and foot traffic. The layout is designed to support full-service dining with an efficient back-of-house. Street parking is available directly in front of the property, with additional public parking located nearby. FF&E and a liquor license are available and may be negotiated separately. This turn-key restaurant space with outdoor dining is suitable for an experienced operator seeking a premium hospitality location.
Key Highlights
- Prime downtown location on River Street with high visibility and foot traffic.
- Turn‑key restaurant space with high‑end commercial kitchen and quality interior finishes.
- Seating for 100+ guests inside** and an additional 40 on the outdoor patio.
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
$2.21 /SF/Yr
CAM
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
15k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
9,553 visits/mo
0.3 miles
Shell
Shops & Services
2,168 visits/mo
0.4 miles
Fifth Third Bank & ATM
Shops & Services
1,722 visits/mo
0.4 miles
Huntington Bank
Shops & Services
1,626 visits/mo
0.1 miles
Demographics for 49629, MI
1,997
Population
1,696
Households
1.2
Avg Household Size
60
Median Age
46%
College-Educated
99%
High-School Grad
3.8 sq mi
ZIP Area
526
Density / Sq Mi
$74,318
Median Household Income
$46,250
Median Earnings
$1,032
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled restaurant space with outdoor patio in downtown Elk Rapids.
Where is this conventional restaurant located?
The property is located at 151 River St Elk Rapids, MI.
What is the lease rate?
The lease rate is $6,859/Mo.
What are key features of this property?
This property features: Prime downtown location on River Street with high visibility and foot traffic.; Turn‑key restaurant space with **high‑end commercial kitchen** and quality interior finishes.; Seating for 100+ guests inside** and an additional 40 on the outdoor patio.
