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    Elk Rapids, MI
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    Elk Rapids, MI Storefront Properties for Sale

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    Williamsburg, MI Kewadin, MI Rapid City, MI Traverse City, MI Alden, MI Bellaire, MI Acme, MI Suttons Bay, MI
    Mixed-Use Downtown Building
    Updated: May 20
    Mixed-Use Downtown Building

    1-144 River St, Elk Rapids, MI 49629

    $499,000
    2,953 sqft
    Mixed‑use building in downtown Elk Rapids with ground‑floor commercial space plus a garden studio apartment and lower‑level storage
    Garden studio apartment is currently rented month to month at $695
    Unit #1 includes a commercial space currently occupied with potential to re‑sign the lease in the fall
    Zoned B2, allowing for short‑term rentals and a variety of commercial and residential uses
    Historic building with architectural character in a downtown setting near shops, restaurants, the marina, and the beach
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    This listing looks promising.

    Here's a quick look at some key insights for

    1-144 River St, Elk Rapids, MI

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    • Est. Cap Rate

      6.1%
      Above avg (5.9%)

    • Est. NOI

      $31K
      Annual

    • Price @ 7% Cap

      $438K
      Suggested
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    Historic Corner Commercial Building
    Updated: May 20
    Historic Corner Commercial Building

    130 River St, Elk Rapids, MI 49629

    $899,900
    1,437 sqft 0.08 AC lot
    Prime downtown Elk Rapids location, near marina, waterfront, shopping, and dining.
    Historic commercial building with original character, including exposed brick, tile, and hardwood.
    High visibility corner property with significant frontage.
    Redevelopment potential, including mixed‑use (residential above commercial, subject to approval).
    Walkable setting in a desirable waterfront community.
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    Historic Mixed-Use Building with Gallery
    Historic Mixed-Use Building with Gallery

    128 River Street, Elk Rapids, MI 49629

    $1,305,000

    Historic mixed-use building with original bank vault and an established fine art gallery plus an owner’s residence.

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    Based on your search, we've compiled 11 Potential Opportunities for your consideration. Besides 3 Active listings in Elk Rapids, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities, 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.

    Prime Commercial Space in Bellaire
    Prime Commercial Space in Bellaire

    103 S Division St, Bellaire, MI 49615

    $265,000
    1,400 sqft 0.23 AC lot

    Remodeled 1400 SF commercial space on a highly travelled highway.

    View details
    Remodeled Retail Storefront with Parking
    Remodeled Retail Storefront with Parking

    Bellaire, MI 49615

    $245,000
    1,400 sqft 0.23 AC lot

    Remodeled, handicap-accessible retail storefront with natural light, tile flooring, two bathrooms, and on-site storage shed.

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    Downtown Alden Commercial Building
    Downtown Alden Commercial Building

    9160 Helena Rd, Alden, MI 49612

    $350,000
    0.15 AC lot

    Commercial building in downtown Alden, near Torch Lake.

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    Turn-Key Retail and Office Building
    Turn-Key Retail and Office Building

    9053 Helena Rd, Alden, MI 49612

    $498,900

    Turn-key downtown building with finished upstairs space and separate entrance for flexible second-use operations.

    View details

    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.

    Corner Commercial Development Land
    Corner Commercial Development Land

    1054-1060 E Front Street, Traverse City, MI 49686

    $2,650,000
    3,726 sqft 1.24 AC lot

    C-3 zoned corner parcel at a major US-31 and Garfield Road intersection with flexible development parameters.

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    Commercial Land with Existing Office Building
    Commercial Land with Existing Office Building

    1040 E Front Street, Traverse City, MI 49686

    $1,148,000
    0.63 AC lot

    Three-lot commercial parcel with an existing office building, positioned on US-31 for flexible development planning.

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    Commercial Development Land Parcel
    Commercial Development Land Parcel

    1026-1028 E Front Street, Traverse City, MI 49686

    $399,000
    0.38 AC lot

    Zoned commercial parcel with two separate lots, positioned along a major east-west corridor for flexible development planning.

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    Commercial Corner Development Land
    Commercial Corner Development Land

    Mitten Drive, Traverse City, MI 49686

    $1,150,000
    1.74 AC lot

    Development land with ingress/egress from two roads and exposure near Cherry Capital Airport and Costco.

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    Elk Rapids, MI Storefront Properties Market Trends and Statistics

    Explore 3 storefront properties for sale in Elk Rapids, MI, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 4,390 square feet of properties for sale, with an estimated market value of $2,703,900.

    Sale prices for retail units in Elk Rapids, MI start at $499,000, averaging $901,300, and reaching up to $1,305,000 — 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

    Storefront properties 3

    Demographics Overview

    Population 2,037
    Population Growth (5Y) +0.1%
    Median Household Income $74,318
    College Educated 62.2%

    High-Yield Neighborhoods for Investment

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

    Neighborhood Average Price
    49629 $918K

    Taxes & Financing

    Tax Rate (average for all types) 1.89%
    Property Tax per SF $21.92 per SF
    Tax Rate vs County Average 0.43 pp below county avg
    Average Loan-to-Value 65.0%

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Antrim County

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