403 Madison St, Petoskey, MI 49770
For Sale
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This exceptional commercial property, located at 403 Madison in Petoskey, Michigan, presents a unique investment opportunity. Boasting over 3,900 square feet of finished space on a 0.32-acre lot, this building is zoned RM-2, allowing for a wide range of commercial uses. Currently configured as a church, the property features a spacious dining hall complete with a full kitchen, making it ideal for food service businesses or similar ventures. Three bathrooms are conveniently located throughout the building. The lower level offers ample office and classroom space, providing flexibility for various business needs. Its prime location, just one block from US 31, ensures excellent visibility and accessibility. Ample parking is available on-site, supplemented by convenient street parking. The property's versatile layout and desirable location make it an attractive prospect for entrepreneurs and investors seeking a substantial commercial space with significant potential for adaptation and growth. The asking price is $399,900. This is a rare opportunity to acquire a well-situated, sizable commercial building in the thriving city of Petoskey.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Comparables
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
COP RM-2 · Petoskey, MIPetoskey. Always verify with local authorities before improvements.
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.