Property profile

204 Water St East Jordan, MI 49727

OFF-MARKET
Commercial real estate
Property ID
US43-4253231
Entity Owned Absentee Owner Free & Clear
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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

Current use

Occupant on record · Public records
  • Wedding Service

Location

204 Water St East Jordan, MI 49727-9108
East Jordan metro Census 1100
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$155k

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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