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128 River St
Elk Rapids, MI 49629
River Street · Retail Property For Sale
Investment Highlights
- Mixed-use commercial building in downtown Elk Rapids with retail and residential functionality.
- Ground floor includes open retail space accented with an original vault.
- Located near Elk Rapids Harbor, local dining options, and regional tourist attractions.
- Originally built in 1948 with a second-story addition completed in 1990.
- Upper level features private living quarters with a jetted tub and updated finishes.
- Strong reputation as a local gallery destination with consistent visitor engagement.
Executive Summary
Rare opportunity to acquire a mixed-use commercial property in the heart of downtown Elk Rapids, Michigan, just steps from the harbor. Originally constructed in 1948 with a second story addition in 1990, this building retains classic architectural elements while offering modern amenities. Currently home to Mullaly’s 128 Gallery, the nearly 4,600-square-foot property has been thoughtfully adapted to serve both commercial and residential purposes.
The main level provides expansive retail space enhanced with an original bank vault, perfect for showcasing products or creative works. The gallery is recognized for its wide assortment of original art pieces, artisan glassware, and mixed media, contributing to strong local and tourist traffic. The upper floor offers a well-appointed owner’s residence, featuring a spacious layout with a jetted tub and flexible living space. Situated along a prominent corridor within walking distance to dining, shopping, and waterfront amenities, this property combines functionality and character, making it ideal for investors, boutique retail operators, or entrepreneurs seeking live-work space in a thriving coastal community.
The main level provides expansive retail space enhanced with an original bank vault, perfect for showcasing products or creative works. The gallery is recognized for its wide assortment of original art pieces, artisan glassware, and mixed media, contributing to strong local and tourist traffic. The upper floor offers a well-appointed owner’s residence, featuring a spacious layout with a jetted tub and flexible living space. Situated along a prominent corridor within walking distance to dining, shopping, and waterfront amenities, this property combines functionality and character, making it ideal for investors, boutique retail operators, or entrepreneurs seeking live-work space in a thriving coastal community.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,564 SF
Building Class
C
Year Built/Renovated
1948/1990
Price
$1,814,302 CAD
Price Per SF
$397.52 CAD
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.50
Lot Size
0.07 AC
Zoning
Commercial - Commercial Zoned District
Amenities
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 05-43-250-013-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $340,616 CAD |
Property Taxes
Parcel Number
05-43-250-013-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$340,616 CAD
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