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    Property profile & analytics
    OFF-MARKET
    Commercial real estate

    127 Riv St, Elk Rapids, MI 49629-9614

    Entity Owned 3-yr Hold Free & Clear
    Property ID
    US43-3815690
    Property summary
    AI-generated overview

    This exceptional commercial property at 127 River Street, Elk Rapids, MI 49629, is offered at $215,000. The 2,420 square foot building, situated in the heart of downtown Elk Rapids, houses a thriving hospitality business currently operating as River Street Market. The business boasts a diverse menu including sandwiches, wraps, pizza, and a wide selection of wines, liquors, beers, and novelty candy, appealing to both locals and tourists. A significant advantage is the included package liquor license, permitting delivery, catering, and on-site tastings. The property's prime location offers easy access to beaches, marinas, and tennis courts, maximizing walk-in traffic and delivery potential. The current owners are willing to assist with a smooth transition for new buyers and are open to negotiating a separate triple-net (NNN) lease for the space. This presents a unique opportunity to acquire a well-established business with significant growth potential in a desirable Michigan location. Private showings are encouraged, and direct contact with employees regarding this listing is respectfully requested to be avoided. The light green building is easily accessible from US 31, turning left onto River Street.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    APN 05-43-010-008-00
    UPID US43-3815690
    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
    Current use
    Occupant on record · Public records
    • The River Street Market Grocery & Convenience Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Quinn & Son Prop LLC · 3 yrs held
    Quinn & Son Prop LLC
    since 2023
    Last sale
    $400,000
    3 recorded transactions
    2023
    $400,000
    2018
    2018
    $315,000
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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