201 River St Elk Rapids, MI 49629
- Commercial real estate
Current Use by Public Records
- Harbor Antique Mall / Antique Store
- Mana North / Women'S Clothing Store
Property Details for 201 River St
- Property type
- Commercial real estate
- APN
- 05-43-010-018-00
- APU
- 54301001800
Description
This exceptional 8,355 square foot mixed-use property, located at 201 River St in Elk Rapids, Michigan, presents a compelling investment opportunity. Priced at $1,398,000 ($167.32/sq ft), the property boasts a 90% occupancy rate and features a blend of commercial and residential spaces. The lower level encompasses approximately 4,000 square feet of retail space, currently configured as an auto shop and executive office spaces. Upstairs, two completely updated residential units offer flexibility, potentially combining for a larger rental unit. These units are currently leased month-to-month. The building includes an elevator for convenient access to all floors. The property is zoned for commercial, office, restaurant/food service, and retail uses, providing diverse potential for future development and tenant mix. Detailed financial information, including rent roll and profit & loss statements, is available upon request and execution of a non-disclosure agreement. This prime location in the heart of historic Elk Rapids offers significant upside potential and strong cash flow. The property's versatile layout and high occupancy make it an attractive investment for both seasoned and emerging investors.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elk Rapids
- County
- Antrim
- State
- Michigan
- Longitude
- -85.4145
- Latitude
- 44.8977
