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Mixed-Use Property with Waterfalls
For Sale
$6,900,000

602 Bell Avenue, Munising, MI 49862

COM/IND/BUS OPP, Munising, MI

Property Size2,714 SF
Lot Size79.00 Acres
Price / SF$2,542
Days on Market616

Property Features for 602 Bell Avenue

General Information

Property type Commercial Sale
Property subtype Other
Zoning Mixed Use
Zoning description Mixed Use
Parking features Parking Lot
Patio and Porch features Patio
Exterior features Deck/Patio, Fence Owned, Fenced Yard, Wheelchair Access
Fencing Fenced
Accessibility Accessible Approach with Ramp
Subdivision Some parcels
Lot features Dead End
Standard status Active
Size 2,714 SF
Lot size 79.00 Acres

Utilities

Heating system Oil, Hot Water(Heating)
Cooling system Ceiling Fan(s), Wall/Window Unit(s)
Water source Public
Water front features Lake, River Front
Water front 1

Building Details

Year built 1970
Roof type Asphalt, Shingle
Listing Agency: BIG C REALTY-M
Listed By: JOANN CARLSON · License #UPAR
Added: Jan 28, 2025 Changed: Oct 3 Last Checked: Oct 6 at 4:06AM
MLS# 50165504

Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 79-acre mixed-use property combines a privately owned waterfall attraction with retail and residential improvements. Horseshoe Falls is fed by a natural spring, while more than 1/2 mile of woodland trails winds through a botanical garden with a Gnome theme before reaching a trout pond stocked with 200-300 large rainbow trout. Access to the grounds begins at a gift shop offering gifts, souvenirs, ice cream, and related merchandise.

The property includes 2,714 square feet, a 2 bedroom, 1.5 bath attached living area, and a detached 28' x 40' garage. Additional features include a parking lot, patio, fencing, wheelchair-accessible approach with ramp, public water, oil and hot-water heating, and wall/window unit cooling. The property is located at 602 Bell Avenue in Munising, Michigan, and is zoned Mixed Use.

Key Highlights

  • 79 acres of mostly undeveloped land with Horseshoe Falls
  • More than 1/2 mile of woodland paths through a botanical garden
  • Trout pond with 200‑300 large rainbow trout

Property Analytics

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Current Use

Recreation land

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Hair Salon Parking Lot & Garage Furniture & Home Goods Garden Center Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business
Opportunity

Location Intelligence

Trade Area within ½ mile

187
Businesses Nearby

Demographics for 49862, MI

4,602
Population
2,462
Households
1.9
Avg Household Size
45
Median Age
20%
College-Educated
93%
High-School Grad
170.0 sq mi
ZIP Area
27
Density / Sq Mi
$59,575
Median Household Income
$36,643
Median Earnings
$718
Median Rent
$150,900
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 Retail in Midwest region

8% 2020
7.3% 2021
6.5% 2022
6% 2023
5.7% 2024
6.3% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Mixed-use property - A 79-acre tourist attraction includes a gift shop, botanical paths, trout pond, and attached living quarters.
Where is this mixed-use property located?
The property is located at 602 Bell Avenue Munising, MI.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: 79 acres of mostly undeveloped land with Horseshoe Falls; More than 1/2 mile of woodland paths through a botanical garden; Trout pond with 200‑300 large rainbow trout
More about this property
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