425 & 431 Madison St, Petoskey MI, 49770

Active

425 & 431 Madison St

Petoskey MI, 49770

$649,900

$96.60 per sqft

Active

8 Beds

4 Baths

6,728 sqft

Multi-family

Fantastic opportunity to own a mixed-use income producing property in the city limits of Petoskey. The property consists of a commercial store front, and 4 residential rental units. The commercial space is currently occupied by the owner and is 2350 square feet. The space would be ideal for any contractor type business. The residential units consist of a duplex with a 3-bedroom apartment and a studio apartment as well as a separate 28X40 garage. The next unit is a newly remodeled 1-bedroom unit above a 2-car garage. The last unit is a free standing 4-bedroom home with new roof. All units are fully occupied with long term tenants that would like to continue renting. See listing agent for further details.

474697

MLSⓇ ID

August 21, 2024

Listed

February 20, 2025

Updated

Interior Features

Bedrooms: 8
Total Bathrooms: 4
Appliances: Dryer, Range, Refrigerator
Fireplace: No
Cooling: No
Heating: Yes
Heating Description: Natural Gas
Basement: Yes

Exterior/Building Features

Roof: Asphalt, Metal
Sewer: Public Sewer
Window: Insulated Windows

School Information

School District: Petoskey

Other Property Details

Area Name: Petoskey City
Days on Market: 63
Garage: Yes
Garage Spaces: 3
Parking Total: 3
View: No
County: Emmet
Municipality: Petoskey City
Water Source: Public
Utilities: Cable Available
Zoning: RM-2

Listing History

Date	Event	Price
10/23/2024	Price change	$649,900 -5%

Listed by Clinton Shuman with Real Estate One
Listing Contact: cell: 231-838-4200

Based on information from Northern Michigan MLS. Data last updated 2/20/2025. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Lobenherz Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.