Petoskey, MI Residential Income Properties for Sale

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Harbor Springs, MI Alanson, MI Boyne Falls, MI Boyne City, MI Charlevoix, MI Brutus, MI Pellston, MI East Jordan, MI

Updated: Jul 2

Mixed-Use Building with Commercial Space

525 W Mitchell Street, Petoskey, MI 49770

$1,870,000

10,580 sqft

Approximately 10,580 sq ft Petoskey commercially zoned property at 525 W. Mitchell St. & 516 Monroe St.
Across from a regional hospital; zoned COP‑B‑3 and RM‑2.
16 micro rental units with bath plus two large commercial spaces for office/retail.
Recent upgrades include a $90K roof and new windows, plus vanity and sinks in small units.
All units are occupied and leased; basement storage is clean and dry.

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This listing looks promising.

Here's a quick look at some key insights for

525 W Mitchell Street, Petoskey, MI 49770

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Est. Cap Rate

6.8%
Above avg (5.9%)
Est. NOI

$127K
Annual
Mortgage

$450K
Aug 2020

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Updated: Jun 25

Mixed-Use Building with Office

602 Jackson Street, Petoskey, MI 49770

$564,900

2,329 sqft

Commercial property with 3 units: a professional office (long‑term lease) plus two 1 bed/1 bath apartments
Two 1 bed/1 bath apartments include one owner‑occupied unit and one unit used for short- and long‑term rentals
Extensively upgraded apartments, including an upper unit with bay views from the living room, kitchen, and deck
Zoned B3 with a reported great rental history
Detached 1‑stall garage

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Remodeled Duplex with Private Entrances

415 Liberty Street, Petoskey, MI 49770

$559,900

2,318 sqft

Updated duplex offers two separate units with private entrances and in-unit laundry for flexible owner or tenant use.

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Mixed-Use Building with Rental Micro-Units

525 W Mitchell St, Petoskey, MI 49770

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22,405 sqft

Commercially zoned building across from a regional hospital with micro rental units and office/retail space.

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Duplex with Two Separate Units

513 Liberty St, Petoskey, MI 49770

$340,000

1,816 sqft

Duplex offering a three-bedroom main-level unit and a remodeled one-bedroom upper unit, plus a one-car garage and off-street parking.

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Based on your search, we've compiled 14 Potential Opportunities for your consideration. Besides 5 Active listings in Petoskey, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Commercial Development Land with Road Frontage

1314/1316 Boyne Avenue, Boyne City, MI 49712

$995,000

2,005 sqft 1.89 AC lot

High-visibility industrial-comm parcel with extensive frontage, city sewer access, and existing rental residences.

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Historic Mixed-Use Building with Rooftop

211 Bridge, Charlevoix, MI 49720

$3,995,000

10,500 sqft

Restored brick mixed-use property with retail space, multiple apartments, and a rooftop gathering area with plunge pool.

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Historic Mixed-Use Building with Retail

211 Bridge Street, Charlevoix, MI 49720

Contact for pricing

10,500 sqft

Restored 1915 building offering street-level retail and multiple renovated apartment units, including short-term rentals and rooftop amenities.

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Commercial Land with Road Frontage

1314/1316 M-75, Boyne City, MI 49712

$995,000

2,500 sqft 1.89 AC lot

Nearly 2 acres with 270 feet of high-visibility frontage, city sewer access, and two rental homes plus an accessory pole barn.

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Potential Development Sites for Consideration

Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

Commercial Development Site on Bluff

4367 Charlevoix Ave, Petoskey, MI 49770

$369,000

Bluff-top commercial lot with prior assisted-living approval and utility access, offering bay and Beaver Island views.

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Lakefront Development Land Opportunity

4281 Pickeral Lake Road, Petoskey, MI 49770

$568,000

55.42 AC lot

Combined 55-acre site with extensive lake-road frontage, suited to residential and farm/forest zoning considerations.

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Land Parcel in Harbor Springs

0000 #1 Summit Street, Harbor Springs, MI 49740

$395,000

0.86 AC lot

Private parcel with bay views and development potential in Harbor Springs.

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Harbor Springs Land Parcel

0000 #3 Summit Street, Harbor Springs, MI 49740

$265,000

0.43 AC lot

Residential land parcel in Harbor Springs with development potential.

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Off-Market Properties in Petoskey, MI

Consider similar Off-Market properties in Petoskey, MI. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Mixed-use properties

4281 Pickeral Lk Rd, Petoskey, MI 49770

Value Estimation by Request

55.42 AC lot

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Petoskey, MI Residential Income Properties Market Trends and Statistics

Explore 6 residential income properties for sale in Petoskey, MI, showcased through 5 active listings on our real estate platform. These investment opportunities span a total of 39,448 square feet of properties for sale, with an estimated market value of $3,334,800.

Sale prices for residential income properties in Petoskey, MI start at $340,000, averaging $833,700, and reaching up to $1,870,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Top Commercial Asset Segments

Commercial property segments ranked by active listings on the market

Demographics Overview

Population 18K

Population Growth (5Y) +4.9%

Median Household Income $80,431

College Educated 68.9%

High-Yield Neighborhoods for Investment

Identify Petoskey submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
49770	$979.1K

Taxes & Financing

Tax Rate (average for all types) 2.30%

Property Tax per SF $9.63 per SF

Tax Rate vs County Average 1.82 pp below county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Emmet County

New Delisted

Total CRE Inventory on Market (SF)

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