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    FOR SALE
    Storefront properties

    1-144 River St Elk Rapids, MI 49629

    2,953 SF
    Property ID
    US43-Q013814
    1-144 River St, Elk Rapids, MI 49629 For Sale 1 / 19
    $549,000 2,953 SF
    1-144 River St, Elk Rapids, MI 49629
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    AI-generated overview

    Located in the heart of downtown Elk Rapids, this rare mixed-use opportunity offers both commercial and residential potential within a historic and character-filled building. Unit #1 features a versatile commercial space currently occupied with potential to re-sign the lease in the fall, along with a charming garden studio apartment (currently rented month to month at $695) and valuable lower-level storage space, creating flexibility for owner-occupants, investors, or entrepreneurs alike. Offered at $549, 000, the property is zoned B2, allowing for short-term rentals and a variety of commercial and residential uses. Rich in character, the building showcases timeless architectural details and enjoys an unbeatable downtown location just steps from local shops, restaurants, the marina, and the beach. A unique investment opportunity in one of Northern Michigan’s most vibrant waterfront communities.

    Property profile
    Verified
    Property type Storefront properties
    Total area 2,953 SF
    UPID US43-Q013814
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
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