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    Elk Rapids, MI
    Mixed-Use

    Elk Rapids, MI Mixed-use Properties for Sale

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    Williamsburg, MI Kewadin, MI Rapid City, MI Traverse City, MI Alden, MI Bellaire, MI Acme, MI Suttons Bay, MI
    Mixed-Use Downtown Building
    Updated: May 20
    Mixed-Use Downtown Building

    1-144 River St, Elk Rapids, MI 49629

    $499,000
    2,953 sqft
    Mixed‑use building in downtown Elk Rapids with ground‑floor commercial space plus a garden studio apartment and lower‑level storage
    Garden studio apartment is currently rented month to month at $695
    Unit #1 includes a commercial space currently occupied with potential to re‑sign the lease in the fall
    Zoned B2, allowing for short‑term rentals and a variety of commercial and residential uses
    Historic building with architectural character in a downtown setting near shops, restaurants, the marina, and the beach
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    This listing looks promising.

    Here's a quick look at some key insights for

    1-144 River St, Elk Rapids, MI

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    • Est. Cap Rate

      6.1%
      Above avg (5.9%)

    • Est. NOI

      $31K
      Annual

    • Price @ 7% Cap

      $438K
      Suggested
    View Property Analytics
    Downtown Mixed-Use Building
    Updated: Jun 13
    Downtown Mixed-Use Building

    201 River Street, Elk Rapids, MI 49629

    $1,200,000
    8,355 sqft
    8,355 sq. ft. mixed‑use building in downtown Elk Rapids with lower‑level retail/office and two upper‑level residential units
    Lower level includes 4,000 sq. ft. of versatile retail space plus two dedicated office suites
    Upper level has two modern, fully renovated residential units with elevator access
    Residential units include an interconnecting door for flexible leasing configurations
    Most current tenants are on month‑to‑month leases
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    Historic Mixed-Use Building with Gallery
    Historic Mixed-Use Building with Gallery

    128 River Street, Elk Rapids, MI 49629

    $1,305,000

    Historic mixed-use building with original bank vault and an established fine art gallery plus an owner’s residence.

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 3 Active listings in Elk Rapids, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Mixed-Use Building with Dedicated Parking
    Mixed-Use Building with Dedicated Parking

    116 Front Street, Traverse City, MI 49684

    $4,800,000
    28,928 sqft

    Includes a separate paved parking lot across Front Street, plus central air and a membrane roof.

    View details
    Mixed-Use Development Site with Existing Building
    Mixed-Use Development Site with Existing Building

    4160 M-72 E, Williamsburg, MI 49690

    $1,995,000
    12,259 sqft 4.35 AC lot

    Shovel-ready parcel with approved mixed-use development plans, completed utilities, and an existing commercial building.

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    Craftsman Commercial Building with Mezzanine
    Craftsman Commercial Building with Mezzanine

    3055 Man Cave Ln, Traverse City, MI 49685

    Contact for pricing
    1,200 sqft

    Custom 1200 sq ft commercial building with premium features.

    View details
    Railway Commons Storage Condo
    Railway Commons Storage Condo

    6357 N Railway Commons, Williamsburg, MI 49690

    $395,000
    2,500 sqft

    Spacious 2,500 sq ft storage condo in Acme Township.

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Corner Commercial Development Land
    Corner Commercial Development Land

    1054-1060 E Front Street, Traverse City, MI 49686

    $2,650,000
    1.24 AC lot

    Zoned C-3 for flexible development with height and impervious limits at a SW corner on major corridors.

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    Development Land Parcel
    Development Land Parcel

    520 Railroad Avenue, Traverse City, MI 49686

    $1,575,000
    1.46 AC lot

    1.46-acre development parcel offered as two lots with access via E Eighth Street and Woodmere Avenue.

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    Commercial Land with Mixed-Use Flexibility
    Commercial Land with Mixed-Use Flexibility

    Zimmerman Road, Traverse City, MI 49685

    $389,000
    3.50 AC lot

    Zoned commercial land at a road intersection, allowing residential above commercial with a footprint limit.

    View details
    Gently Sloped Commercial-Ready Lot
    Gently Sloped Commercial-Ready Lot

    US 31 S, Charlevoix, MI 49720

    $110,000
    1.34 AC lot

    A 1.34-acre wooded site with utility access options in a mixed residential and commercial planning area.

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    Elk Rapids, MI Mixed-Use Properties Market Trends and Statistics

    Explore 3 mixed-use properties for sale in Elk Rapids, MI, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 11,308 square feet of properties for sale, with an estimated market value of $3,004,000.

    Sale prices for multi use buildings in Elk Rapids, MI start at $499,000, averaging $1,001,333, and reaching up to $1,305,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Demographics Overview

    Population 2,037
    Population Growth (5Y) +0.1%
    Median Household Income $74,318
    College Educated 62.2%

    High-Yield Neighborhoods for Investment

    Identify Elk Rapids submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49629 $1M

    Taxes & Financing

    Tax Rate (average for all types) 1.89%
    Property Tax per SF $21.92 per SF
    Tax Rate vs County Average 0.43 pp below county avg
    Average Loan-to-Value 65.0%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Antrim County

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