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144 River St 2,953 SF Retail Building Elk Rapids, MI 49629 $756,599 CAD ($256.21 CAD/SF)
Investment Highlights
- Historic mixed-use building offering 2,953 square feet with commercial frontage and residential rental potential.
- Flexible B2 zoning permits short-term rentals and a variety of commercial applications for future growth.
- Recent updates enhance functionality while preserving the building’s character and charm.
- Located in downtown Elk Rapids, steps from popular shops, the marina, and waterfront attractions.
- Includes an established street-level retail space and an occupied studio apartment with additional storage.
- Strong investment appeal in a high-traffic tourism destination within one of Northern Michigan’s most vibrant communities.
Executive Summary
Located in the heart of downtown Elk Rapids, this mixed-use property offers nearly 2,953 square feet of flexible space within a historic building that combines character and functionality. Listed at $549,000, the property currently features a versatile commercial storefront occupied by a tenant with the option to renew, along with a charming garden-level studio apartment generating income on a month-to-month lease. The lower level offers valuable storage, contributing to the property’s adaptability for owner-users, investors, or entrepreneurs.
Zoned B2, the property allows a broad mix of uses including retail, professional services, and short-term residential rentals, providing significant revenue-generating potential under one roof. Architectural details highlight its century-old heritage while complementing its prime downtown location—a thriving waterfront community known for its boutique shops, dining, and direct access to Grand Traverse Bay. These elements create a rare opportunity to own an income-producing asset in one of Northern Michigan’s most desirable markets.
Zoned B2, the property allows a broad mix of uses including retail, professional services, and short-term residential rentals, providing significant revenue-generating potential under one roof. Architectural details highlight its century-old heritage while complementing its prime downtown location—a thriving waterfront community known for its boutique shops, dining, and direct access to Grand Traverse Bay. These elements create a rare opportunity to own an income-producing asset in one of Northern Michigan’s most desirable markets.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Storefront
Building Size
2,953 SF
Building Class
C
Year Built/Renovated
1900/2025
Price
$756,599 CAD
Price Per SF
$256.21 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
0.83
Lot Size
0.08 AC
Zoning
B2 - Commercial Zoned District
Frontage
150’ on River St
Amenities
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-43-250-005-00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $347,705 CAD |
Property Taxes
Parcel Number
05-43-250-005-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$347,705 CAD
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144 River St
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