127 Riv St, Elk Rapids, MI 49629-9614
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.
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The River Street Market Grocery & Convenience Store
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2020Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.