525 W Mitchell St, Petoskey, MI 49770

Building Details

Year Built

1955

Listing agent Michael Stroud License #6501376693

Listing office @properties

Listing date Jun 11, 2026

Source Crexi

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Overview

This commercially zoned mixed-use property includes a residential house with a back yard, 2 bedrooms, 2 baths, and a garage, along with 16 micro rental units each with a bath. The building also features two large commercial spaces suited for office or retail use. Additional amenities include clean and dry basement storage, a security system, city water and sewer, and Wi-Fi availability. Off-street parking is provided for approximately 16 cars, plus a commercial laundry room.

Located in Petoskey, Michigan, the property sits across the street from a regional hospital and is walkable to downtown dining and the waterfront. The overall rental opportunity is approximately 10,580 square feet, offering an on-site setup that pairs residential income with commercial space.

Designed for buyers who want flexible live-and-work or multi-income operations, the layout supports on-site management of rentals alongside commercial tenancy. The mix of housing and business space may also appeal to operators looking for employee housing tied to the commercial component, and the property could be converted to a boutique hotel as permitted. Recent capital improvements include a $90,000 roof project, new windows, and updated vanities and sinks in the smaller units.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

Location Insight

• Map
• Local Demand

City

Petoskey

County

Emmet

State

Michigan

Longitude

-84.9685004

Latitude

45.3727875

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FAQs

What type of property is this?

Apartment building - Commercially zoned building across from a regional hospital with micro rental units and office/retail space.

Where is this apartment building located?

The property is located at 525 W Mitchell St Petoskey, MI.

What is the asking price?

The asking price for this property is $1,930,000.

What are key features of this property?

This property features: Commercially zoned B3 property in Petoskey with approximately 10,580 sq ft of rental opportunity; Across the street from a regional hospital; walkable to downtown restaurants and waterfront; Includes 16 micro rental units, plus 2 large commercial spaces for office/retail