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    OFF-MARKET
    Commercial real estate

    204 Water St, East Jordan, MI 49727-9108

    Entity Owned Absentee Owner Free & Clear
    Property ID
    US43-4253231
    Property summary
    AI-generated overview

    This exceptional East Jordan, Michigan commercial property offers a unique investment opportunity encompassing eight distinct parcels totaling 3.4 acres. Boasting 360 degrees of stunning Lake Charlevoix waterfront, this portfolio is ideally situated within walking distance of downtown. The package includes a highly desirable wedding and event venue, "The Boathouse," renowned for its breathtaking lake views and upscale ambiance. Also included is a substantial boat restoration warehouse, providing ample space for various commercial uses. Three charming short-term rental properties add immediate income potential, while a versatile building currently configured as a mix of office, short-term rental, and retail space offers further flexibility. All structures have undergone tasteful renovations, showcasing a modern aesthetic. Detailed parcel information is available upon request. This multi-use property presents a rare chance to acquire a significant commercial holding in a highly sought-after Northern Michigan location. The combined properties offer a diverse revenue stream and significant upside potential. The asking price for this exceptional portfolio is $4,999,000. This is a turnkey operation with established businesses and immediate income generation. The property's prime location and diverse offerings make it an attractive investment for both seasoned and emerging commercial real estate investors. Don't miss this opportunity to own a piece of Lake Charlevoix's vibrant commercial landscape. The property is located at 204 Water St, East Jordan, MI 49727.

    Property profile
    Verified
    Property type Commercial real estate
    Use group COMMERCIAL (GENERAL)
    APN 053-991-002-00
    UPID US43-4253231
    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 Boathouse on Lake Charlevoix Wedding Service
    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
    WATER STREET VENTRUES LLC
    WATER STREET VENTRUES LLC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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