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525 W Mitchell St 22,405 SF 100% Leased Office Building Petoskey, MI 49770 $3,210,616 CAD ($143.30 CAD/SF)
INVESTMENT HIGHLIGHTS
- A Rare Investment Opportunity in the Heart of Petoskey, Michigan…home of spectacular sunrises and sunsets, iconic downtown and opportunities!
EXECUTIVE SUMMARY
525 W. Mitchell St. & 516 Monroe St.
A Rare Investment Opportunity in the Heart of Petoskey, Michigan…home of spectacular sunrises and sunsets, iconic downtown, friendly neighbors, find it all here. Across the street from a regional hospital, walkable to downtown restaurants, waterfront, and more. Your dream investment opportunity starts here… and it provides you with a place to live as well.…look no further, it’s all right here.
It’s a place to live with your family, while managing on-site rentals; employee housing, with income from a commercial business/office space. A Boutique hotel? Plus a house for additional income, or make it your own residence for when you spend time in Northern Michigan.
This unique/versatile commercially zoned property across from a regional hospital in Petoskey, zoned COP-B-3 & RM-2, with approximately 10,580 sq ft. of rental opportunity, includes: House w/back yard, 2B, 2B & 1 Garage, 16 micro rental units w/bath, 2 large commercial spaces for office/retail. Basement storage, clean & dry. security system, city water & sewer, wi-fi available. Off street parking for approx. 10 cars, and commercial laundry room. Recent upgrades: $90K roof, new windows, vanity & sinks in small units.
All units occupied and leased. Showings are scheduled weekly as to not disrupt the tenants. Contact Carole scheduling a showing. PRE-QUALIFIED BUYERS ONLY
A Rare Investment Opportunity in the Heart of Petoskey, Michigan…home of spectacular sunrises and sunsets, iconic downtown, friendly neighbors, find it all here. Across the street from a regional hospital, walkable to downtown restaurants, waterfront, and more. Your dream investment opportunity starts here… and it provides you with a place to live as well.…look no further, it’s all right here.
It’s a place to live with your family, while managing on-site rentals; employee housing, with income from a commercial business/office space. A Boutique hotel? Plus a house for additional income, or make it your own residence for when you spend time in Northern Michigan.
This unique/versatile commercially zoned property across from a regional hospital in Petoskey, zoned COP-B-3 & RM-2, with approximately 10,580 sq ft. of rental opportunity, includes: House w/back yard, 2B, 2B & 1 Garage, 16 micro rental units w/bath, 2 large commercial spaces for office/retail. Basement storage, clean & dry. security system, city water & sewer, wi-fi available. Off street parking for approx. 10 cars, and commercial laundry room. Recent upgrades: $90K roof, new windows, vanity & sinks in small units.
All units occupied and leased. Showings are scheduled weekly as to not disrupt the tenants. Contact Carole scheduling a showing. PRE-QUALIFIED BUYERS ONLY
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
22,405 SF
Building Class
B
Year Built/Renovated
1955/2019
Price
$3,210,616 CAD
Price Per SF
$143.30 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
22,405 SF
Building FAR
1.00
Lot Size
0.51 AC
Zoning
B1 - Business
Parking
3 Spaces (0.13 Spaces per 1,000 SF Leased)
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- LTBB
- -
- -
-
$9.99
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Lorem Ipsum
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Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| LTBB | - | - | $9.99 | Lorem Ipsum | Jan 0000 |
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PROPERTY TAXES
| Parcel Number | 52-19-06-126-024 | Improvements Assessment | $0 CAD |
| Land Assessment | $627,885 CAD | Total Assessment | $627,885 CAD |
PROPERTY TAXES
Parcel Number
52-19-06-126-024
Land Assessment
$627,885 CAD
Improvements Assessment
$0 CAD
Total Assessment
$627,885 CAD
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525 W Mitchell St
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