Individually Owned 
For Sale
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Property summary
This exceptional mixed-use property, located at 312 Pine Street in Elk Rapids, Michigan, presents a unique investment opportunity. Situated on a large double lot at the southwest corner of Pine and Chippewa Streets, this 3,475 square foot building offers significant potential. A 960 square foot garage is also included. The property is conveniently located just three blocks from downtown Elk Rapids, providing easy access to local amenities and businesses. Currently zoned R-2, the property enjoys grandfathered commercial use. However, a deed restriction against funeral homes and related uses will be in place for five years. Any other commercial use will require zoning approval. Permitted uses without Village approval include a duplex or two single-family homes. Other potential uses, subject to Village approval, include daycare, senior facilities, or a church. Given its size and proximity to downtown, this property is also well-suited for residential conversion. The asking price for this versatile property is $595,000. The zip code is 49629. This is an excellent opportunity for an investor seeking a property with diverse development possibilities in a desirable location. The property is located in Antrim County.
Property profile
VerifiedCap rate & NOI
Current use
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Social Service Agency
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Elk Rapids market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2020Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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