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2-Unit Duplex

223 E Third Street, Harbor Springs, MI 49740

For Sale
$875,000

B-1 zoning allows commercial, residential, and mixed-use possibilities.

Property Size1,876 SF
Days on Market496

Property Features for 223 E Third Street

General Information

Standard status Active
Size 1,876 SF
Property subtype Office
Zoning B-1

Property Condition

Severity Repairs Needed
Evidence renovations and maintenance will be required in the near future

Units

Unit Mix 2 x 2BR/1BA
Multifamily Units 2

Building Details

Building Size 1,876 SF
Listing Agency: Gaslight Group Properties
Listed By: Andrew Bowman
Source: Patobrien
Added: Jul 3, 2025 Changed: Nov 8 Last Checked: Nov 8 at 5:48PM

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 Gaslight Group Properties

Rey
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Investment Insights

Based on property information with market context.

Arranged across two floors, the duplex contains two rental units, each with two bedrooms and one full bathroom. The structure is approximately 100 years old, and future renovation and maintenance work is anticipated. Parking is governed by agreements that include use of the detached garage; those agreements run with the land.

The property is on E. Third Street in downtown Harbor Springs, within a short walk of local shops, restaurants, and the waterfront.

Key Highlights

  • Two rental units, one on each floor
  • Each unit has two bedrooms and one full bathroom
  • B‑1 zoning allows commercial, residential, and mixed‑use possibilities

Property Analytics

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Lease Details

2
Residential units

Location Intelligence

Trade Area within ½ mile

403
Businesses Nearby

Demographics for 49740, MI

7,511
Population
6,057
Households
1.2
Avg Household Size
55
Median Age
46%
College-Educated
97%
High-School Grad
124.9 sq mi
ZIP Area
60
Density / Sq Mi
$85,230
Median Household Income
$38,820
Median Earnings
$997
Median Rent
$332,600
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Duplex - B-1 zoning allows commercial, residential, and mixed-use possibilities.
Where is this duplex located?
The property is located at 223 E Third Street Harbor Springs, MI.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two rental units, one on each floor; Each unit has two bedrooms and one full bathroom; B‑1 zoning allows commercial, residential, and mixed‑use possibilities
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