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105 W Mitchell St
Petoskey, MI 49770
Bear River Center · Retail Property For Sale
Investment Highlights
- Anchored by West Marine with over 27 years of operating history at this location.
- Positioned on well-traveled US-31, three blocks from downtown Petoskey’s Gaslight District.
- Offers 40 dedicated parking spaces and a highly visible pylon sign for tenant branding.
- Fully leased, income-producing property with NNN leases minimizing landlord obligations.
- Located near regional anchors including McLaren Hospital, Bayfront Park, and Marina.
- Surrounded by a mix of retail, medical, and hospitality, enhancing tenant stability.
Executive Summary
Three-tenant, 9,880 SF plaza anchored by West Marine (opened 1998). Located on US-31 Hwy. three blocks from historic Gaslight District of downtown Petoskey. One-half mile from new Panera, McLaren Hospital, Bayfront Park and Marina.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,880 SF
Building Class
C
Year Built
1990
Price
$2,743,650 CAD
Price Per SF
$277.70 CAD
Cap Rate
8.14%
NOI
$223,312 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.76 AC
Zoning
C-1 - Commercial
Parking
40 Spaces (4.05 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Tenant Controlled HVAC
- Air Conditioning
Property Taxes
| Parcel Number | 52-19-06-202-072 | Improvements Assessment | $0 CAD |
| Land Assessment | $1,640,703 CAD | Total Assessment | $1,640,703 CAD |
Property Taxes
Parcel Number
52-19-06-202-072
Land Assessment
$1,640,703 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,640,703 CAD
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